Atlantic Sapphire Asa · OSL:ASA
Atlantic Sapphire Asa — H1 2020 Earnings Presentation
15 slides from Atlantic Sapphire Asa's earnings presentation, Aug 28, 2020
Slide 1: 1st Half, 2020 Update
1st Half, 2020 Update 28th August 2020 |
Slide 2: Important Information
IMPORTANT INFORMATION This presentation (the "Presentation") has been produced by Atlantic Sapphire ASA (the "Company") exclusively for information purposes. This Presentation has not been approved, reviewed or registered with any public authority or stock exchange. This Presentation is not a prospe
Slide 3: Contents
Contents 1st Half, 2020 Update ▪ Summary ▪ US Production ▪ Covid-19 Impacts ▪ Emergency Harvest Review ▪ Financing ▪ Product Quality and Customers ▪ Marketing ▪ 1st Half, 2020 Financial Summary ▪ Shareholder Overview 3|
Slide 4: Summary
Summary 1st Half, 2020 Update Atlantic Sapphire Today ▪ 5.0m fish, ~2,200t of biomass, swimming in US and DK Bluehouse facilities ▪ DK harvest commenced and ‘steady state’1 standing biomass achieved ▪ 121 full time employees as of June 30, 2020 ▪ USD266m in total assets as of June 30, 2020 Key Upcom
Slide 5: US Production
US Production 1st Half, 2020 Update Construction completion in Q4 ‘20 ▪ Fish transfer to the 4th growout system underway ▪ Construction timeline has gradually extended due to Covid-19 and other unforeseen delays Strong biological performance in fully commissioned systems ▪ ~4m fish swimming in the U
Slide 6: Covid-19 Impacts
Covid-19 Impacts 1st Half, 2020 Update US Bluehouse Salmon US Phase 1 construction impacted ▪ Immigration and labor access interruptions due to Covid-19 negatively impacting system commissioning schedule ▪ No expected impact on long term capex/kg New Covid-19 reality highlights advantages of local p
Slide 7: US July 28th Emergency Harvest Review
US July 28th Emergency Harvest Review 1st Half, 2020 Update Event caused by combination of accumulated and sudden construction stressors related to delays ▪ Extended post-incident analysis confirms initial conclusion ▪ Accumulation of stressors: frontrunner batches have over time been exposed to var
Slide 8: Financing
Financing 1st Half, 2020 Update DNB credit facility: USD30m increase in short term availability ▪ Reference is made to the announcement on April 21, 2020, in which the execution of a USD210m senior secured credit facility with DNB was announced ▪ Agreement executed with DNB that USD30m of the USD110
Slide 9: Product Quality and Customers
Product Quality and Customers 1st Half, 2020 Update Bluehouse Salmon Excellent US product taste, quality and texture ▪ Taste, fillet color and texture at or above target KPIs ▪ Unmatched freshness and longer product shelf life than other salmon Solid customer pipeline developed: 10,000+ store footpr
Slide 10: Marketing
Marketing 1st Half, 2020 Update Delicious, healthy, sustainable, US-raised ▪ Consumer website launched: bluehousesalmon.com ▪ Extensive market research completed, supporting brand strategy ▪ Launching targeted trade and consumer marketing initiatives through digital, PR, in-store and influencer part
Slide 11: US Photos (I)
US Photos (I) 1st Half, 2020 Update ‘State-of-the-art’ processing plant nearing completion Growout tank in the Miami Bluehouse in full operation 11 |
Slide 12: US Photos (II)
US Photos (II) 1st Half, 2020 Update Phase 1 Bluehouse building enclosed (July 2020) Positioned for future growth 12 |
Slide 13: 1st Half, 2020 Financial Summary
1st Half, 2020 Financial Summary 1st Half, 2020 Update 13 |
Slide 14: Shareholder Overview (As of August 25th)
Shareholder Overview (As of August 25th) 1st Half, 2020 Update Atlantic Sapphire ASA Total Shares Outstanding: 71,286,100 Oslo Børs Ticker Symbol: ASA Share Price (As of August 27, 2020): NOK 104.50 / share Market Capitalization: NOK 7.4B Rank Holding Stake Name Country Type 1 9,459,849 13.3% ALSCO
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