Atlantic Sapphire As (AASZF) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi everyone and welcome to our Q1 operational update and 2023 annual report presentation. I am Johan Andreassen and with me to present today is as always Carl Øyaug. Yes, good afternoon. We will open up for a Q&A after the presentation where you can type your question into the Q&A tab that you'll see on the right hand side of the Teams window. We will only answer questions from attendees that have identified themselves with names, so please state your name in the question box as well. Johan? Thank you, Carl. First, I would like to give a quick comment on the process of finding my successor as a CEO. As I mentioned last fall, this was going to take some time since we wanted to do a thorough search to find the right person. After a very good process, we are now close to making a decision, which means that you can likely expect an announcement on that topic by the end of this quarter. And with that said, I will now give you an update on the latest developments since our last update that was on February 29th. Stable performance on the back of infrastructure improvements. As we have discussed in detail over the last year, 2023 was heavily impacted by infrastructure upgrades, followed by temperature challenges last summer that limited our ability to produce fish the way we are supposed to. After we were done with these upgrades and got our temperatures under control in October last year, the stability in the farm has been completely different from what we have seen in the past. As we have also discussed in detail over the last year, we have seen high degree of maturation and poor performance on the fish groups that were in the grow out systems during the high temperature period last summer. These fish groups have given us poor feed conversions and low price achievement. We...