Slide 1: Q4-2024 Norcod Webcast
Q4-2024 Norcod Webcast
Slide 2: Q4 2024 Highlights
Q4 2024 Highlights • 124 MNOK in revenues, up 47% from 83 MNOK in Q4-23 • 35 MNOK in operating loss, down 66% from 104 MNOK in Q4-23 • 2,390 tons WFE* harvested, up from 1,611 tons WFE in Q4-23 • The Jamnungen site has been granted an increase of MAB (Maximum Allowable Biomass) from 3,600 tons to 5,
Slide 3: Operational update
Operational update A total of 2,390 tons were harvested during the quarter, with the majority coming from Labukta (902 tons) and Mausund (909 tons). An additional 578 tons were harvested from Frosvika. All biomass was processed at Norcod’s harvesting facility, Kråkøy Slakteri. The biological perform
Slide 4: Financial Update - Highlights
Financial Update - Highlights Harvest volume (tons WFE) Production cost at sea (NOK per kg WFE) 56,0 48,3 47,6 46,0 2 768 39,8 2 390 1 830 1 611 1 348 Q4- 23 Q1 24 Q2-24 Q3-24 Q4-24 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Revenues (MNOK) Available credit and cash at hand (MNOK) 143 118 124 92 83 86 9 69 141 4
Slide 5: Financial Update - Highlights
Financial Update - Highlights Biological assets (MNOK) Biomass at sea (tons) 7 817 7 080 7 083 6 746 280 279 6 640 251 262 256 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q4- 23 Q1 24 Q2-24 Q3-24 Q4-24 Balance sheet development – Assets (MNOK) Balance sheet development – Equity and liabilities (MNOK) 783 783 694
Slide 6: Financial Review
Financial Review Q4 - 2024 FY 2024 Q4 - 2023 FY 2023 Y/Y-% Operating revenue 123 721 397 183 83 163 269 419 47,4 % Production cost* -110 016 -382 866 -77 755 -312 257 22,6 % Other operating expenses -59 606 -205 634 -51 161 -190 544 7,9 % EBIT excl non-recurring items and FV adjustment of biomass -4
Slide 7: Financial Review
Financial Review Profit and Loss Fourth Quarter 2024 Operating revenues for the fourth quarter were 124 MNOK based on a harvested volume of 2.400 tons, up from 83 MNOK and a harvested volume of 1.600 tons in Q4-23. Operating expenses ended at 177 MNOK, up from 150 MNOK in Q4-23. The increase is main
Slide 8: Financial Review
Financial Review Balance Sheet (cont.) Total non-current liabilities ended at 128 MNOK in Q4-24, down from 153 MNOK in Q4-23. Current interest-bearing debt ended at 205 MNOK in Q4-24, up from 119 MNOK in Q4-23. Total current liabilities ended at 373 MNOK in Q4-24, up from 317 MNOK in Q4- 23. The cha
Slide 9: Market update
Market update Norcod is currently benefiting from favorable market conditions, with a 29 percent rise in sales prices from Q1 to Q4 of 2024. We are witnessing growing awareness and recognition of the advantages of farmed cod, offering a reliable year-round supply of fresh, high-quality cod, with sim
Slide 10: Outlook
Outlook Revised and profitable long-term growth strategy with increased debt commitment and contemplated Private Placement Driven by favorable market conditions and strong sales price trends, the company has seen improvements in its financial performance year-on-year. By maintaining a sharp focus on
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Slide 12: Contact Info
Contact Info: Arne Kristian Hoset CFO Phone: +47 988 10 282 Email: arne.hoset@norcod.no Norcod - Financial Report Q4