Måsøval Q1-2025 report

22 May 2025 06:00 CEST

Sistranda 22.05.2025

Please find enclosed the Q1 report for Måsøval.

This morning Måsøval announced it's Q1 results. In accordance with a trading
update the Group reports a harvest volume of 5 226 GWT, this includes 621 GWT
harvested on co-location agreements. Yielding revenues of mNOK 681.

Financially the quarter was characterized by lower margins compared to Q1
2024. Margins in region Mid fell as a result of lower market prices and
harvest of expensive biomass due to high sea lice pressure in 2H 2024. Margins
in region West was affected by Pasteurellosis at one site while other sites in
the region performed well.

Looking forward our CEO Helge Kvalvik comments "We ended a though quarter with
a weaker financial performance than expected. Looking forward I see lower
expected cost and improved superior share. We are excited to start VAP
production at TL52 from Q2 and in the quarter we were chosen as partner to
Møre and Romsdal County Council to operate an educational licence for 10
years."

Måsøval's CEO Helge Kvalvik and CFO Anders Hagestande will present the results
in Norwegian at 08:00 at Auditorium H2, Haakon VIIs gate 2, Vika. The
presentation can also be followed via this link:
https://channel.royalcast.com/landingpage/hegnarmedia/20250522_3/

The presentation and the 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.

Contacts
Anders Hagestande, CFO, Måsøval AS, +47 415 82 138,
anders.hagestande@masoval.no
Helge Kvalvik, CEO, Måsøval AS, +47 97 97 97 72, helge.kvalvik@masoval.no

About Måsøval
Måsøval is a fully integrated producer of Atlantic salmon with more than 50
years of operational experience. Based on the island of Frøya in Central
Norway, the company controls the entire value chain -from smolt production to
sea-based farming, harvesting, processing, and global sales.

This integrated model ensures full control, operational efficiency, and
consistent delivery of premium Atlantic salmon to the global market. Måsøval
is committed to sustainable growth, fish welfare, and long-term value
creation.

This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication at
2025-05-22 06:00 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

647109_Måsøval AS Q1 25 Presentation.pdf
647109_Måsøval AS Q1 25 Report.pdf