Norway · Delayed Price · Currency is NOK Norcod AS Earnings Call Transcripts
Fiscal Year 2025
-
Q4 revenue rose 12% year-over-year to NOK 123 million, but extraordinary mortality led to a NOK 47 million operating loss. EBIT margin improved, sales prices surged 35%, and liquidity strengthened after a major investment. Strong market demand and operational scaling support a positive outlook.
-
Revenue rose 6% in Q2 despite lower volumes, with EBIT margin and operational losses improving year-over-year. High production costs were offset by strong market demand and higher prices, and preparations for future growth are ahead of schedule.
Fiscal Year 2024
-
Q4 saw a 47% revenue increase and a 66% reduction in operating losses, with strong market demand and prices driving a revised growth plan targeting 25,000 tons by 2029. NOK 300 million in new funding is committed, and further price increases are expected in 2025.
-
Q2 saw a 120% revenue increase and a 34% reduction in operating loss, driven by higher harvests and efficiency gains. The company is on track for 8,500–9,000 tons in 2024, with break-even expected in 12–18 months and strong market demand supporting premium positioning.