Q3-2024 report for Måsøval

19 Nov 2024 06:00 CET

19.11.2024 06:00:01 CET | Måsøval AS | Half yearly financial reports and audit
reports / limited reviews

Sistranda 19.11.2024

This morning, Måsøval announced its Q3 results. In accordance with a trading
update, the Group reports a negative operational EBIT amounting to MNOK -61.

Helge Kvalvik, the Group CEO comments the quarter: "Q3 was a challenging quarter
for Måsøval. Higher sea temperatures than seasonal normal in our region resulted
in high sea lice pressure, which hampered growth and elevated our delousing
costs. Moreover, we experienced ISA on two sites in the quarter. Harvesting
salmon with low weight, resulted in high cost and low prices. In the Sales &
Processing segment we also reported a negative operational result, primarily
driven by start-up costs at the harvesting facility TL52 at Hitra. Although it
was a challenging quarter, it's important to highlight the continuing positive
trend in Region West, with improved biological performance yielding lower costs,
higher superior shares, and increased harvest weights. Overall, the quarter
provided valuable insights that further strengthened our approach."

Looking ahead, the Group maintains its harvest guiding of 24 700-25 700 GWT for
the full year 2024, while in 2025, the Group guides increased activity level
with full year harvest of 29 000-31 000 GWT.

Please find enclosed the Q3 report for Måsøval.

Måsøval's CEO Helge Kvalvik and CFO Anders Hagestande will present the results
in Norwegian at 08:00 at Hotel Continental. The presentation can also be
followed via this link:

https://channel.royalcast.com/landingpage/hegnarmedia/20241119_1/

The presentation and report are attached in this notification.

Forward looking statements:

This release may be deemed to include forward-looking statements, such as
statements that relate to Måsøval's goals and strategies, salmon prices, ability
to increase or vary harvest volume, production capacity, trends in the seafood
industry, restructuring initiatives, business prospects and positioning with
respect to market, demographic and pricing trends, strategic initiatives, and
the effects of any extraordinary events and various other matters (including
developments with respect to laws, regulations and governmental policies
regulating the industry and changes in accounting policies, standards and
interpretations) on Måsøval's business and results. Forward-looking statements
are Måsøval's current estimates or expectations of future events or future
results. Actual results could differ materially from those indicated by these
statements because the realization of those results is subject to many risks and
uncertainties. All forward-looking statements included in this release are based
on information available at the time of the release, and Måsøval assumes no
obligation to update any forward-looking statement.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Anders Hagestande, CFO, Måsøval AS, +47 415 82 138,
anders.hagestande@masoval.no
* Helge Kvalvik, CEO, Måsøval AS, +47 979 79 772, helge.kvalvik@masoval.no

ABOUT MÅSØVAL AS

Måsøval is an integrated producer of Atlantic salmon with more than 50 years of
operational experience. Located in Central and West of Norway, Måsøval has both
significant farming operations at sea and inhouse smolt production. Måsøval is
processing and exporting high quality Atlantic salmon to a global marketplace.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847731/18327797/5306/Download%20announce
ment%20as%20PDF.pdf

Masoval AS Q324 report.pdf -
https://kommunikasjon.ntb.no/ir-files/17847731/18327797/5304/Masoval%20AS%20Q324
%20report.pdf

Masoval AS Q324 presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17847731/18327797/5305/Masoval%20AS%20Q324
%20presentation.pdf

More information:
Access the news on Oslo Bors NewsWeb site

632571_Masoval AS Q324 report.pdf
632571_Masoval AS Q324 presentation.pdf
632571_Download announcement as PDF.pdf