Andfjord Salmon

Andfjord Salmon: Q4 and preliminary full-year 2024 results

26.2.2025 16:33:00 CET | Andfjord Salmon | Inside information

Andfjord Salmon Group AS ("Andfjord Salmon" or the "Company") reports strong

momentum for all ongoing workstreams at its land-based aquaculture facility at

Kvalnes, Andøya, and releases its financial results from the fourth quarter 2024

and preliminary full-year 2024.

Andfjord Salmon did not produce salmon in the fourth quarter of 2024 and

consequently had close to zero revenue in the period (Q4 2023: 0). The Company

reported a loss of NOK 19.2 million in the fourth quarter 2024, versus a loss of

NOK 19.4 million in the corresponding period in 2023.

Please find enclosed a presentation that details the fourth quarter and

preliminary full-year 2024 financial results.

COMPANY PRESENTATION

All ongoing workstreams for the current build-out phase at Kvalnes remain on or

ahead of schedule. Later today, Andfjord Salmon will publish a company

presentation that, among other things, provides status of the current Kvalnes

build-out phase and details future build-out plans at Kvalnes.

PRESENTATION ON 11 MARCH 2025

Andfjord Salmon will invite investors, analysts, lenders and media to an

operational update and presentation of the company's fourth quarter and interim

full-year 2024 financial results on Tuesday 11 March 2025.

The presentation will be held physically in Oslo and streamed to online viewers.

An invitation with venue and login details will be shared approximately one week

prior to the event.

CONTACTS

* Investors: Bjarne Martinsen, CFO, Andfjord Salmon Group AS, +47 975 08 345,

* Media: Martin Rasmussen, CEO, Andfjord Salmon Group AS, +47 975 08 665,

ABOUT ANDFJORD SALMON

Located at Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord

Salmon is developing the world's most sustainable and fish-friendly aquaculture

facility of its kind. Through a proprietary flow-through system, Andfjord Salmon

combines the best from ocean and land-based salmon farming. In its first

production cycle, the company achieved an industry-leading survival rate of 97.5

percent, feed conversion ratio of 1.05, superior share of 91.1 percent, and

required 1 kWh to produce one kilo of salmon. For more information, see

www.andfjordsalmon.com - http://www.andfjordsalmon.com.

ATTACHMENTS

Q4_2024_presentation 26022025.pdf -

https://kommunikasjon.ntb.no/ir-files/17847566/18436093/5684/Q4_2024_presentatio

n%2026022025.pdf

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