Salmon Evolution ASA (OSE: SALME) generated 49.7 NOKm in revenues in the first quarter after harvesting of 581 tonnes HOG including post smolt, with a group EBITDA of -4.1 NOKm and a Farming EBITDA of 5.7 NOKm.
Salmon Evolution set a new production record during the quarter and increased the standing biomass from the preceding quarter by 45 % to 2,939 tonnes LW, reaching targeted run-rate levels.
“Achieving our targeted run-rate biomass is essential for unlocking the full potential at Indre Harøy,” CEO of Salmon Evolution, Trond Håkon Schaug-Pettersen said. “With this in place, alongside strong biological performance, we are well-positioned to continue to scale up both production volumes, harvest and harvest weights moving forward.”
During the quarter progress in the phase 2 expansion project at Indre Harøy remained strong, and the project is on track for targeted first smolt release in Q1-26 and first harvest in Q4-26.
“We maintained strong momentum at the construction site throughout the quarter and successfully achieved all key milestones,” said Schaug-Pettersen. “With Phase 2 we are creating a unique operational platform and preparations for the first smolt release in about 10 months are already well underway.”
Highlights in the quarter:
- New production record with net biomass growth of 1,624 tonnes LW, up 7 % from Q4 2024.
- Ending Q1 2025 with a new all-time high standing biomass of 2,939 tonnes LW, a 45% increase from Q4 2024, reaching targeted run-rate levels in both volume and number of individuals, a prerequisite for taking out the full growth potential.
- Revenues of 49.7 NOKm after harvesting 581 tonnes HOG including post smolt, group EBITDA of -4.1 NOKm and farming EBITDA of 5.7 NOKm.
- Indre Harøy phase 2 construction well underway – on track for first smolt release in Q1-26 as planned.
- 418 NOKm in available liquidity including committed undrawn credit facilities at the end of the quarter. Additionally, the Company has 1,450 NOKm in earmarked construction financing.
Results presentation:
CEO Trond Håkon Schaug-Pettersen and CFO Trond Vadset Veibust will present the the results for the first quarter 2025 at Hotel Continental in Oslo, Norway, Tuesday 13 May at 08:00 CEST.
The presentation and Q&A will be held in English, and participants may also follow the presentation and submit questions through a live webcast available on www.salmonevolution.no, or with the following link: https://events.webcast.no/salmon-evolution/OEpmPDaoyhi5siPjdg0b/UBfbHKg6ENJCptuJSsmp
A recording of the webcast will be made available on our website shortly after the presentation.