Arctic Fish Holding

Business and Financial Review • May 10, 2023

Q1 2023: Arctic Fish Management report

Q1 2023: Arctic Fish Management report

Revenues amounted to 417.6 MNOK in the quarter. For the same period last year revenues amounted to 282.5 MNOK. The company harvested 4,866 tonnes in the quarter. For the same period last year, the company harvested 4,221 tonnes.

CAPEX investments amounted to 159.5 MNOK in Q1 2023.

An operational EBIT margin of 23.3 NOK pr. kg harvested was achieved in the quarter, which is higher than the 20.4 NOK pr. kg margin achieved for the same period last year.

Within the quarter, a fire broke out at a construction site of Arctic Smolt. Smolt stocking in 2023 is going to proceed as planned. Smolt stocking in 2024 will depend on the timing of the finalization of the construction as well as internal and external smolt capacity.

Additional information:

Arctic Fish is changing the reporting structure to align itself with the reporting structure and cost categorization of the majority owner MOWI.

It has also been decided that the Group will be reporting in Euros starting from the 1st of July 2023. Q3 2023 will be the first quarter to be reported in Euros.

A full interim report will be published with the Q2 results. The Q2 results will be presented in NOK.

The management report is attached to this notice and can also be found on the company website.