Q3 2022: An investment focused quarter

16 Nov 2022 09:30 CET

The company continued to invest in its growth projects, both the smolt expansion
in Talknafjordur and the harvesting facility in Bolungarvik. Total capital
expenditure amounted to 139 MNOK in the quarter. The company will also continue
to invest more in its growth projects over the next couple of months and thus
securing larger parts of the value chain, improving operational scale,
mitigating biological risk, and ultimately increasing overall competitiveness.
From an operational standpoint, market prices declined from the previous quarter
which resulted in the price achievement realized amounting to 58.9 NOK pr. kg in
the quarter. The production costs increased to 49.1 NOK pr. kg which is slightly
higher than the costs in the previous quarter. A farming EBIT margin of 9.8 NOK
pr. kg harvested was achieved which is slightly lower than the 10.6 NOK pr. kg
EBIT margin achieved in Q3 2021.
Within the quarter the company harvested 1,968 tonnes, a 32% decrease compared
to the same period last year. Revenues amounted to 116 MNOK and an operational
EBIT of 17 MNOK in the quarter was reached.
The company expects to harvest 9,400 tonnes of salmon throughout the year and a
total of 14,100 tonnes next year.

The presentation materials and an interim report are attached to this notice and
can also be found on the company website.
https://www.arcticfish.is/investor-relations/ and
https://www.arcticfish.is/presentations/
A recorded presentation is also available via the company website and questions
from investors should be sent to ir@arcticfish.is, and questions will be
answered as soon as possible and subsequently posted on the company website.
If investors want to schedule a meeting with management and for further general
information, please contact:
Neil Shiran Thorisson
Email: nst@afish.is
Tel: +354 8315300

More information:
Access the news on Oslo Bors NewsWeb site

575873_Arctic Fish Q3 2022 Presentation.pdf
575873_Arctic Fish Q3 2022 Interim report.pdf