Arctic Fish Holding

Earnings Release • Feb 15, 2023

Q4 2022: Growth and investments on track

Q4 2022: Growth and investments on track

The company continued to invest in its growth projects, both the smolt expansion

in Talknafjordur and the harvesting facility in Bolungarvik. Total capital

expenditure amounted to 114 MNOK in the quarter and a total of 447 MNOK for the year. The company will also continue

to invest more in its growth projects over the next couple of quarters and thus

securing larger parts of the value chain, improving operational scale,

mitigating biological risk, and ultimately increasing overall competitiveness.

As for the operations, market prices amounted to 74.7 NOK pr. kg in

the quarter. The production costs increased to 52.3 NOK pr. kg which is

higher than the costs in the previous quarter of 49.1 NOK pr. kg. A farming EBIT margin of 22.4 NOK

pr. kg harvested was achieved which is higher than the 10.1 NOK pr. kg

EBIT margin achieved in Q4 2021.

Within the quarter the company harvested 1,343 tonnes, a decrease compared

to the same period last year when harvested quantities were 2,938 tonnes.

Revenues amounted to 100 MNOK and an operational EBIT of 27 MNOK in the quarter was reached.

A notable event in the quarter was also MOWI’s purchase of 51.28% of the company.

The presentation materials and an interim report are attached to this notice and

can also be found on the company website.