Norway · Delayed Price · Currency is NOK Nordic Aqua Partners Earnings Call Transcripts
Fiscal Year 2025
-
Q4 featured strong production, improved biomass, and a shift to larger fish sizes, with revenue of EUR 2 million and a narrowed net debt. Strategic financing and partnerships were secured, while costs are set to decline and production to ramp up in 2026.
-
Q3 saw a new financing package, reduced CapEx, and a 630-tonne harvest, though at lower prices due to smaller fish and market timing. The company is positioned for growth, with expanded financing, strong market demand, and a focus on larger fish sizes for premium pricing.
-
Q2 saw €5.1M revenue and a net loss of €10.1M, with production impacted by operational disruptions. A new financing package with Chinese banks and investors will support expansion to 20,000 tons, while CapEx for stage two was reduced by 16%.
-
Commercial sales resumed in Q1 2025 with strong production and price achievements, supported by a shift to larger fish sizes and robust market demand. Revenue reached EUR 2.3 million, and Stage 2 expansion remains on track, with financing secured through short-term and pending long-term facilities.
Fiscal Year 2024
-
Commercial harvest resumed in February after resolving geosmin issues, with premium fish quality and strong market acceptance. Q4 saw a net loss due to reduced production, but expansion and financing for Stage 2 are on track, targeting 3,500–3,700 tons harvest in 2025.
-
Operations and production remained strong, but geosmin contamination halted commercial harvest and led to significant culling, resulting in a net loss. Stage two expansion is on track, financing is secured, and normal production is expected to resume in 2025.
-
Q2 marked the first commercial sales, with EUR 4.7 million in revenue and strong biological performance, but a geosmin incident led to halted harvests and a planned NOK 250 million equity raise. Phase two construction is on track, and the company is targeting premium positioning in a growing Chinese market.