Making money farming salmon on land.
On Tuesday morning, Salmon Evolution reports operating income of NOK 100.3 million for the first quarter of 2024 and a group EBITDA of NOK 24.1 million. The first quarter represents a significant milestone for Salmon Evolution with strong profitability and positive EBIT at group level.
– In Salmon Evolution, we have a vision to breed salmon on land with excellent biology in a very profitable way, says CEO of Salmon Evolution, Trond Håkon Schaug-Pettersen.
– The strong results in the first quarter are proof that Salmon Evolution has established a unique, efficient and profitable growth platform. We are only at the beginning of our journey, he continues.
Farming EBITDA came in at NOK 36.2 million, which corresponds to 40.2 in EBITDA/kg. Group EBITDA ended at NOK 24.1 million and group EBIT at NOK 5.8 million. The slaughter volume in the first quarter was 901 tonnes (HOG), with an average weight of 4.6 kg (live weight), superior share of 96 per cent and strong price realization.
The company had a record standing biomass of almost 2,700 tonnes (live weight) at the end of the quarter.
Salmon Evolution further reports stable operations with net biomass growth of ~1,560 tonnes live weight, up eight percent from Q4 2023.
Slaughter volumes in the second quarter are expected to be in the range of 1,600-1,800 tonnes.
