Harvested quantities were in line with the company's short term and long-term
plans, resulting in low volumes while moving all harvesting operations to the
company's own new state of the art harvesting facility. The new harvesting
facility in Bolungarvík was tested at the end of the quarter with full
operations commencing in July. Testing and operations have gone according to
plans. Biological production met expectations and went according to plan.
Capital Expenditures amounted to 104.4 MNOK in the quarter, mainly related to
the harvesting facility. A refinancing term sheet was finalized that will enable
the company to realize its long-term growth plans. Also within the quarter
expansion of the licenses reached a major milestone with the potential to
increase the production with a MAB license of 8,000 tonnes, there of 5,200
tonnes of salmon and the rest for trout.
Investors can request an investor meeting, please send a request for such a
meeting via email to the Investor relations team via ir@arcticfish.is
Any questions related to the reports can also be sent via email to the same
address.
Arctic Fish in brief
Arctic Fish (AFISH) has 27,100 tonnes of Maximum Allowed Biomass licenses (MAB)
to farm salmon and trout. The licenses are in the Westfjords of Iceland. Out of
the total license volume, 5,300 tonnes are for trout, which are not currently
being utilized and will be converted to salmon licenses in the ongoing
application process.
Arctic Fish is one of the leading salmon farmers in Iceland and has an
attractive and sustainable setup of licenses with active licenses in 4 fjords
and applications being finalized in one additional fjord that can bring the
total volume up to 31,900 tonnes in the coming years. The company owns a
state-of-the-art RAS hatching and smolt production that is the foundation of the
operations. Further investments are being made in smolt production and
harvesting that will contribute to the future growth of the company.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act
