OSLO, Norway, Aug. 15, 2024 /PRNewswire/ -- Salmon Evolution
ASA (OSE: SALME) reports another profitable quarter with operating
revenues of 170.5 NOKm, a group EBITDA of 45.4 NOKm and a positive
cash flow from operations of 37.5 NOKm in Q2-24. This is a result
of record high harvest of 1,581 tonnes HOG in the quarter, as well
as strong all-in price realization and a positive underlying cost
development.
"In the first half of 2024 Salmon Evolution had close to 300
million in revenues and a farming EBITDA of almost 100 million,
continuing to demonstrate that Salmon Evolution has established a
unique, efficient and profitable growth platform," CEO of Salmon
Evolution, Trond Håkon Schaug-Pettersen said. "We are also very
pleased with the phase 2 financing package completed during the
quarter and look forward to continue our growth journey at Indre
Harøy," he said.
Highlights in the quarter:
- Positive cash flow from operations of 37.5 NOKm.
- Group EBITDA of 45.4 NOKm - Farming EBITDA of 58.6 NOKm and
NOK 37.1 EBITDA/kg.
- Record high harvest in Q2-24 of 1,581 tonnes HOG. Continued
strong all-in price realization of 106
NOK/kg driven by an industry leading superior grade share of
96 %.
- Net biomass growth of 1,261 tonnes LW. High focus on restocking
the facility and setting the stage for strong growth during
H2-24.
- Moving ahead with upsized Indre Harøy phase 2. Successfully
completed private placement in June raising gross proceeds of 365
NOKm and 675 NOKm in increased in bank facilities to fund the
project.
- Strong financial position with 983 NOKm in available liquidity
including committed undrawn credit facilities.
Results presentation:
CEO Trond Håkon Schaug-Pettersen and CFO Trond Vadset Veibust
will present the results for the second quarter 2024 at Hotel
Continental in Oslo, Norway,
Thursday 15 August at 08:00 CEST. A
delicious sushi breakfast with salmon from Indre Harøy will be
served from 07:45 CEST.
The presentation and Q&A will be held in English, and
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/jdpdS1lSStPogHltwSid.
A recording of the webcast will be made available on our website
shortly after the presentation.
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
thsp@salmone.no
+47 91 19 13 27
Trond Vadset Veibust, CFO
tvv@salmone.no
+47 48 09 05 95
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/salmon-evolution/r/salmon-evolution-asa--another-profitable-quarter,c4024587
The following files are available for download:
https://mb.cision.com/Public/19899/4024587/8867bee7af32715e.pdf
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SALME Q2 2024
Presentation
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https://mb.cision.com/Public/19899/4024587/864c36fd0b6490bd.pdf
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SALME Q2 2024
Report
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