Salmon Evolution ASA: NOK 40/kg in farming EBITDA margin in Q1 2024

OSLO, Norway, May 7, 2024 /PRNewswire/ -- Salmon Evolution ASA ("Salmon Evolution" or the "Company", OSE: SALME) reported operating revenues of NOK 100.3 million in the first quarter of 2024 and a group EBITDA of NOK 24.1 million. The first quarter constitutes a significant milestone for Salmon Evolution with strong profitability and positive EBIT at Group level.

"In Salmon Evolution we have a vision to grow salmon on land with excellent biology in a highly profitable way", CEO of Salmon Evolution, Trond Håkon Schaug-Pettersen said. "The strong results in the first quarter are a testament to this and truly demonstrates that Salmon Evolution has established a unique, efficient and profitable growth platform. We are only at the start of our journey", he continued.

Highlights in the quarter:

• Farming EBITDA of NOK 36.2 million, NOK 40.2 EBITDA/kg.
• Group EBITDA of 24.1 million and group EBIT of NOK 5.8 million.
• Q1 harvest volumes of 901 tonnes HOG, with average weight of 4.6 kg LW, superior share of 96 % and strong price realization.
• Record high standing biomass of almost 2,700 tonnes LW end of quarter.
• Stable operations with net biomass growth of ~1,560 tonnes LW, up 8 % from Q4 2023.
• Q2 harvest volumes expected in the range of 1,600 - 1,800 tonnes HOG.

Results presentation:

CEO Trond Håkon Schaug-Pettersen and CFO Trond Vadset Veibust will present the results for the first quarter of 2024 at Hotel Continental in Oslo, Tuesday 7 May 2024 at 08:00 CET. A delicious sashimi buffet with salmon from Indre Harøy will be served from 07:45 CET. Note: The presentation will take place in Teatersalen.

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/4N4FewYC7AMYtNn8F97N

The presentation and Q&A will be held in English.

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

For further information, please contact:
Trond Håkon Schaug-Pettersen, CEO
[email protected]
+47 91 19 13 27

Trond Vadset Veibust, CFO
[email protected]
+47 48 09 05 95

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SOURCE Salmon Evolution