Gigante Salmon As · OSL:GIGA
Gigante Salmon As — Q1 2024 Earnings Presentation
17 slides from Gigante Salmon As's earnings presentation, Apr 23, 2024
Slide 1: Q1 Report 2024
Q1 REPORT 2024 23rd April 2024 CEO Kjell Lorentsen CFO Rune Johansen
Slide 2: Important information and disclaimer
Important information and disclaimer This document is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into or from the united states of america, australia, canada, japan, hong kong or south africa or to any resident thereof or any other jurisdiction w
Slide 3: Health, Security, Environmental & Quality
Health, Security, Environmental & Quality HSE&Q PROJECT EXECUTION An overriding focus for all our activities is that the health of our colleagues and fish is crucial for our success: “If the fish are doing well, then we are doing well.” Important areas of responsibility for Gigante Salmon AS as the
Slide 4: Highlights Q1 2024
Highlights Q1 2024 THE FIRST QUARTER OF 2024 • Smolt delivery 21 January, production started in production basin nr. 3 • External construction management, including construction manager and HSEQ coordinator, hired • Production basin 2 under construction and progressing according to plan • CEO termin
Slide 5: Financing
Financing The CAPEX increase of MNOK 350 compared to the last Financing structure outlined CAPEX budget will be financed by the following three MNOK sources: New equity 130 1. New equity (MNOK 130), Gigante Havbruk AS will support an equity financing for a total subscription amount up to MNOK 130. B
Slide 6: Kjell Lorentsen
Kjell Lorentsen CEO • Founder and long time CEO of Gigante Havbruk Group • Has held leading positions in the fishery and aquaculture industry since the 70’s. • 6.5 years education in fishery and fishery economics.
Slide 7: Progress and milestones
Progress and milestones The Norwegian Ministry of Rødøy Municipality approves the Fisheries lifted the requirement rezoning from agricultural and natural for licenses for land-based areas (LNF) to industrial use for land- aquaculture facilities in based aquaculture. Norway. The work related to the p
Slide 8: Biological update
Biological update • The facility is functioning well and as intended. Seawater is being pumped in as planned and the water chemistry is good. • The fish are doing well in the longitudinal tanks, which are now operating with a water velocity of about 20 cm/s. • We are gaining valuable experience for
Slide 9: The facility is made up of longitudinal raceways
The facility is made‘up‘of 10 longitudinal raceways measuring tf EAeaimasatin / ‘MOmrand 214m: y coef raceway has'a Bartition J fs a y running its‘entire Tength {hat 7 : Causes the water to flow ina (Circular current aaa & Water is drawn in through 10 intake pipes from a depth of 20 metres. = : Each
Slide 10: Updated project summary Rødøy
Updated project summary Rødøy § Gigante Salmon is constructing a land-based salmon farming site on Lille Indre THE PROJECT ECONOMICS REMAIN Rosøy which has a yearly production capacity of up to 16.000 tonnes HOG, based on a STRONG AND HIGHLY COMPETITIVE: licensed MAB of 13,731 tonnes. PRODUCTION COS
Slide 11: Updated timeline
Updated timeline 2022 2023 2024 2025 2026 2027 2028 Project execution phase Q3-23 Groundwork complete Q1-24 Grow-out basin completed CONSTRUCTION PHASE Q4-24 Entire production plant completed Test production – 0,15 mill smolt Harvest 550 tonnes HOG Startup production – 1.1 mill smolt Harvest 5,000 t
Slide 12: Income statement - Group
Income statement - Group • Income statement reflects project execution phase, with limited income and operating expenses
Slide 13: Balance sheet - Group
Balance sheet - Group Assets Note a1z026 12023 2023 Equity andiiabilites Note 12024 12023 2023 DeFerad tex ass 7218 7219 are captel a4 134174 Totalintangibleassets 7275 6048 7213 Share promam 338200 338200 Land duldingsendother roperty Total paid-in equity 2 ar2374 271290 472374 Ships Other eauty 88
Slide 14: Income statement – GS Rødøy
Income statement – GS Rødøy • Total investments in the group in the first quarter rose 641 679 kNOK, compared to 514 778 kNOK in Q4
Slide 15: Balance sheet – GS Rødøy
Balance sheet - GS Rodoy Note 12024 212023, 31122023 Equity and abil Note 12024 @12023 312.2023 520873 164335 4180 rare capital 730 19230 0 sh 04 193 686 Sharepremium 321370 72.870 321370 igh Hoo4s Total paid-in equity 957100 192100 357100 Total tangible assets 1 640580 165088 506877 Shroqy so) = aa
Slide 16: Liv Monica Stubholt
LIV MONICA STUBHOLT Recommended as new chairperson of the board by the company’s nomination committee • Former CEO and President of Aker Seafoods ASA • Solicitor and partner in Advokatfirmaet Selmer AS • Leads the firm’s ESG and Compliance team • Sits on the boards of several companies in the energy
Slide 17: Gigante Salmon
Gigante ax Salmon