Grieg Seafood ASA: Q1 2025 results

27 May 2025 06:00 CEST

Strengthening the financial position and good underlying production across all
regions

(Figures for Q1 2024 in brackets)

Highlights

* Harvest volume of 20,770 tonnes (21,075 tonnes)

* Operational EBIT in the quarter of NOK 221 million (NOK 292 million), with
operational EBIT/kg of NOK 10.6 (13.8). EBIT includes one-off cost of NOK 68
million related to organizational changes and demobilization of PSA

* Production in Rogaland has been excellent, leading to 13% decrease in cost
compared to Q4 2024

* Finnmark shows a good underlying biology and promising outlook for the year.
However, Finnmark experienced Cardiomyopathy syndrome (CMS) late in the
quarter, requiring early harvest of some pens

* Newfoundland and British Columbia with stable and good production

* Target harvest volume of 84,000 tonnes for the full year 2025. Expect to
harvest 21,000 tonnes in Q2 2025

* Phase 1 of our financial transformation has been successfully completed with
the placement of our NOK 2,000 million hybrid bond and progressing as
planned with the ongoing sale-leaseback process


Results presentation
CEO Interim Nina Willumsen Grieg and CFO Magnus Johannesen will present the
results live at Hotel Continental, Stortingsgaten 24/26, Oslo today at 08:00
a.m. CEST.

A live webcast from the presentation can be accessed at
https://.investor.griegseafood.com or with the following link:
https://channel.royalcast.com/landingpage/hegnarmedia/20250527_1/

An English transcript of the presentation will be made available at
https://investor.griegseafood.com.

For further inquiries, please contact:
Nina Willumsen Grieg, CEO Interim
Cell phone: +47 953 39 161
E-mail: nina.grieg@griegseafood.com

Magnus Johannesen, CFO
Cell phone: +47 959 13 243
E-mail: magnus.johannesen@griegseafood.com


About Grieg Seafood
Grieg Seafood ASA is one of the world's leading salmon farmers. Our farms are
in Finnmark and Rogaland in Norway, and British Columbia as well as
Newfoundland in Canada. Our headquarter is located in Bergen, Norway. Grieg
Seafood ASA was listed at the Oslo Stock Exchange in June 2007.

Sustainable farming practices are the foundation of Grieg Seafood's
operations. The lowest possible environmental impact and the best possible
fish welfare is both an ethical responsibility and drive economic
profitability.

To learn more, please visit https://.griegseafood.com.


The information included in this announcement may partly be defined as inside
information pursuant to article 7 of the Market Abuse Regulation. The
information is publicly disclosed in accordance with article 17 of the Market
Abuse Regulation as well as section 5-12 of the Norwegian Securities Trading
Act. The stock exchange announcement was published by May Hansen, Executive
Assistant Grieg Seafood ASA, on 27 May 2025 at 06:00 a.m. CEST.

More information:
Access the news on Oslo Bors NewsWeb site

647557_2025 Q1 GSF Quarterly Presentation.pdf
647557_2025 Q1 GSF Quarterly Report.pdf