Nordic Halibut AS has published the financial statement intern report for Q4 2022 in which their growth plan is remarkable, exceeding the target, sales prices and also the production ramp-up advancing according to the all-time plan, 700.800 fish put to sea during 2022.
The Norwegian sushi-grade company is well positioned and on track to deliver on long-term production targets with strong biological results. This is shown by their data that revenue in their Q4 2022 was up 4% compared to the same period last year, giving an invoicing amount of 32 mNOK.
In addition, the outlook is to continue growing. Production growth is on track, with an all-time plan of 700.800 fish caught in 2022, which equates to a catch volume of 3.500 tonnes in 2025.
On these conditions, Nordic Halibut has launched an ambitious growth plan to become the world's leading halibut farmer after a major advance in early-stage production. The company has planned to increase its production with three-year objectives. Starting in 2023 with the introduction of fish into the sea to produce up to 1 million juveniles in the sea, which will allow a production of 4.500 tonnes of HOG halibut in 2026. With this perspective for the year 2026, the next step is to continue this dynamic until reaching 9.000 tonnes of HOG in 2030.
For this purpose Nordic Halibut will build a new land-based facility at Tingvoll (Norway) that will produce 1.25 million juveniles annually from 2027, that it's possible thanks to their significant impact on production costs and results. They are also confident that, when target volumes are reached, the scale effect will be significant.
Nordic Halibut AS is one of the world's leading producers of farmed Atlantic halibut, specific sushi-grade. This Norwegian company has licenses to produce 4,500 tons per year of Atlantic halibut and continues to increase the numbers because its methodology allows the product to be available fresh on ice all year round and is not dependent on seasonal changes.