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RNS - Proximar Seafood Production Update: Biomass Reaching 1,126 tonnes and harvested 322 tonnes (HOG) in Q1 2025

Company: Proximar Seafood AS Date: 2025-04-07 Language: English Register to download

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Company Presentation

# Production & Sales Update Q1 2025

### **Disclaimer**

This presentation (the "Presentation") has been prepared by Proximar Seafood AS (the "Company" and together with its subsidiaries, the "Group"), solely for information purposes. The Presentation comprise a general summary of certain matters in connection with the Group, and do not purport to contain all of the information that any recipient may require to make an investment decision. This Presentation, and the information contained herein, does not constitute an offer or invitation to sell, or any solicitation of any offer to subscribe for or purchase any securities of the Company, and neither the issue of the materials nor anything contained herein shall form the basis of or be relied upon in connection with, or act as an inducement to enter into, any investment activity, and do not constitute or form part of any offer, invitation or recommendation to purchase, sell or subscribe for any securities in any jurisdiction.

No representation, warranty, or undertaking, express or implied, is made by the Company nor any of the Company's affiliated entities or persons as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein, for any purpose whatsoever. This Presentation speaks as of the date hereof. All information in this Presentation is subject to updating, revision, verification, correction, completion, and amendment, without notice. Neither the company nor its affiliated entities or persons is obligated to provide access to any additional or follow-up information relating to this Presentation, or to correct any inaccuracies relating to this Presentation. Neither the Company nor any of the Company's affiliated entities or persons, assumes any responsibility whatsoever, for any use of this Presentation.

By reading this Presentation, you acknowledge that the information and statements that appear cannot form the basis for or be relied upon in connection with any investment activity or other activity whatsoever, and that you will be solely responsible for your own assessment of the Group.

## **Production in Q1 2025**

#### **Production update summary**

- Standing biomass of 1,126 metric tonnes, up from 1058 metric tonnes at end of Q4 2024
- Including the harvested biomass in the quarter of 388 metric tonnes LW, gross biomass growth was 456 tonnes
- 21 batches and approximately 2.07 million individuals currently in production
- Biofilter repairs on schedule and expected to return back to full feeding in May
- Water quality remains good and stable, both in the Hatchery & Nursery department and the Post Smolt Grow-out
- Low mortality across batches

#### **Proximar's biomass development**

In metric tonnes, live weight

![](_page_2_Figure_10.jpeg)

## **High demand for Fuji Atlantic salmon – delivering to high-end HoReCa market and had first export in Q1**

- A total of 322 tonnes HOG was harvested and shipped in Q1 2025, in line with company expectations
- Sales price achieved for 3kg+ ~NOK 113 / kg (net to Proximar)
	- ✓ Continuing to achieve a solid price premium compared to imported salmon from Norway
- Average sales price achieved ~NOK 104/ kg net, due to lower average weight caused by biofilter incidents
- Fuji Atlantic salmon now also on the menu to several 5-star hotels
- The first export as Proximar has been successful into Taiwan Market

| Highlights / summary harvest & sales 31/12/2024 to 31/03/2025 |                  |                         |                                |
|---------------------------------------------------------------|------------------|-------------------------|--------------------------------|
| Volumes HOG                                                   | % Superior grade | Avg. harvest size (HOG) | Avg. achieved sales price / kg |
| 322 tonnes                                                    | 99.47%           | 3.05                    | NOK ~104                       |

### **Update on biofilter repairs**

- Ongoing repair works and 3 of 4 biofilters in operation
- Based on the current schedule, repair works is progressing as planned and the last biofilter is expected to be operational in early May
- Ongoing process with insurance company, and positive progress

# **Next update: 16 May 2025 – Q1 2025 presentation**

Company Presentation

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