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Norcod — Earnings Release 2023
Aug 24, 2023
3675_rns_2023-08-24_5a4beea6-8876-494c-acdb-bce74c264797.html
Earnings Release
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Q2 and first half year 2023 Financial report
Q2 and first half year 2023 Financial report
Norcod AS: Q2 and first half year 2023 Financial report
(Trondheim, 24 August 2023)
Q2 2023 Highlights
- 39 MNOK in revenues, up 39% from Q2-22 driven by increased harvesting
- 47 MNOK in operating loss, compared to 41 MNOK in Q2-22
- -131 MNOK in cash flows from operations, down from -88 MNOK in Q2-22
- 1 038 tons WFE harvested, up from 963 tons WFE in Q2-22
- Entering agreement on acquisition of Kråkøy Slakteri AS
- First cycle initiated at site Labukta – 2.6 mill fish set into sea
- Executed measures to improve financial robustness
H1 2023 Highlights
- 165 MNOK in revenues, up 41% YoY
- 75 MNOK in operating loss, compared to 86 MNOK in H1-22
- -123 MNOK in cash flows from operations, down from -99 MNOK in H1-22
- 4 400 tons WFE harvested, up from 2 990 tons WFE in H1-22
Norcod will present its financial results on Thursday 24 August 2023 at 10.00 am.
The live presentation will be available through webcast through the following link:
https://teams.microsoft.com/l/meetup-join/19%3ameeting_ZjFiZDAyNmUtYWEwYy00NzdjLWI2YzgtYTIyYjI1OTEzMzdh%40thread.v2/0?context=%7B%22Tid%22%3A%2279a58c32-6f4c-4071-a8b3-a1f3c4e97bfc%22%2C%22Oid%22%3A%22d1e74162-c27d-4f74-b0dc-0ca97d849183%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a
For further information, please contact:
Christian Riber, Chief Executive Officer, phone: +47 905 37 990, E-mail: [email protected]
Arne Kristian Hoset, Chief Financial Officer, phone: +47 988 10 282, E-mail: [email protected]
About Norcod:
Norcod AS’ core business is commercial sea farming of cod but through ownership and partnerships is involved in the entire value chain. Norcod’s existing fish farms are located in Mid-Norway with ideal conditions for cod. The company is contributing to blue ocean value creation with minimal impact on the environment while supporting local communities. Norcod is listed on Oslo’s Euronext Growth market.