Atlantic Sapphire As (AASZF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the AtlanticSapphire first half financial results presentation. My name is Gunnar Oskar Sinrae. I am the CFO of the company, and together with me, I have Pedro Corar, the CEO of the company, and I'll give him the word now to start off. Thank you, Gunnar. I'm Pedro Corar, CEO of AtlanticSapphire. Let us go to the presentation. The first half of 2025 has been by far the best year for Atlantic Sapphire. We were able to validate our phase one, both from a productive and commercial standpoint by harvesting high quality fish, a commercial average weight of 2.9 kilos, giving us a chance to achieve premium price of $8.7 per kilo. All of that with good survival rates, stronger feeding capacity and consistent biomass gain. The decisions made by the end of 2024, especially in terms of giving stability to our systems, start to realize in concrete results. We expect to finish the year with a record harvest of 5.4 thousand tons with a realistic ambition of 7,000 tons for 2026 and 7.5 to 8.5 thousand tons for the period 2027 onwards. Our focus has been maximizing the efficiency of Phase 1, while we have reduced the focus in Phase 2, keeping the process to a minimum. To secure fundings of the company until reaching breakeven, we are contemplating a flexible financing option to raise the required funds. Our unique condition in terms of current and future production capacity is one of our main assets. Once we reach a VDA positive with Phase 1, we will have the biggest market waiting for us, giving the company an amazing potential in terms of growth and value addition with a medium-term goal of 100,000 tons per year. By the full validation of Phase 1, we will become the Salmon Company with the greatest growth potential in the world. Assuming a fully optimized Phase 1 scenari...