Atlantic Sapphire As (AASZF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, everyone. Welcome to the Atlantic Sapphire twenty twenty five Financial Results Presentation. My name is Gunnar Ospos Skinnerhog. I'm the CFO of the company. And together with me, I have Pedro Carr, the CEO. Thank you, Gunnar. Hello, everybody. I will continue with the presentation. 2025 was a good year for Atlantic Sapphire. Among our most important improvements, our revenues jumped from $23,000,000 in '24 to more than $43,000,000 in '25, equivalent to an 87% increase. Reasons behind that were the higher volume and higher average weight allowing us to reach premium prices. While all of the additional KPIs improved during 2025, we are now in a challenging financial situation as consequence of lower revenues and the delay in cost reduction. During March 2026, the company entered into a bridge loan agreement for a total amount of $10,000,000 expecting to reach a final solution to finance our operation and the EBITDA breakeven. Last year, we were able to validate our Phase I from an operational standpoint, keeping a stable biology while we consistently increased production parameters like standing biomass and harvest. In terms of operations, the last spending goal is improving feed conversion, process that is linked to the biofiltration and the gas in projects that are currently under execution. Being exceeding capacity one of our most important KPIs, we have consistently increased it during the last six quarters, showing a good path. Losses have been low in levels not higher than 1% in the saltwater stage. While feed conversion is higher than our ambitions, we are working on a specific plan to improve this relevant parameter. Aligned with our seed consumption in Greece, we have been able to keep increasing both our biomass gain and standing biomass. As a cons...