Andfjord Salmon close its first harvest with excellent results. Some of the data that give an idea of the success is the closing with a total biomass of Atlantic salmon reached 646,000 tons, with an average weight of 3.4 kilograms per fish and an exceptional survival rate.
"The high-quality attributes of our salmon have not gone unnoticed by our customers, who have provided very positive feedback, especially on the color of the fish. […] This has made us even more confident that we will be able to achieve a healthy premium on our product in the future," explained Martin Rasmussen, CEO of Andfjord Salmon.
An output count in tandem with the transfer of fish from the pool shows that approximately 193,000 salmon were released into the pool a year ago, and a year later, the success can be corroborated and accreted. "We are delighted to achieve such a remarkable survival rate, especially after transport to slaughter," said Rasmussen.
"The fact that 97.5% of the fish survived underscores that the fish has had excellent living conditions in the pool," said Rasmussen. "As a consequence of this, we have harvested fish that may not have survived in other fish farming facilities. This has a negative impact on the average weight and superior share, which is still at an impressive level. However, a high survival rate is obviously the most valuable from a financial perspective."
In this regard, they clarified that the harvested weight had different weights, ranging from 1-2 kg to 5-6 kg. Likewise, two weights stood out, that of 2-3 kg, which was around 50% of 2.3 and which made the average price of 67 NOK/kg (6.01 EUR/kg – 6.66 USD/kg), and that of 3-4 kg, which was around 40% and which marked an average price of 80 NOK/kg (7.18 EUR/kg – 7.95 USD/kg)
Andfjord Salmon pursued a key objective with the first batch of fish, prioritizing the identification of the most appropriate buyers over maximizing the average price. Nevertheless, their strategic approach yielded favorable results, as returning buyers expressed a strong willingness to pay premium prices for future deliveries.
In future batches, the company plans to significantly increase the average slaughter weights. Andfjord Salmon decided to carry out earlier slaughtering for the inaugural batch, driven by the necessity to make room for the commencement of major expansion construction.
On June 13, 2023, Andfjord Salmon unveiled details of its development plan to reach a total production volume of 40,000 tons (HOG) at Kvalnes. In addition, the company announced that it had secured bank financing to carry out its expansion at the location. Starting in 2025, Andfjord Salmon will phase the expansion of production capacity over the period from 2025 to 2030, with an addition of 8,000 tons (HOG) of production capacity.
Andfjord Salmon has developed an innovative and sustainable aquaculture concept for land-based farming of Atlantic salmon. Located at Kvalnes in Andøya, Norway, the company's ambition is to build the world's most sustainable and fish-friendly aquaculture facility. Moreover, Euronext Growth lists Andfjord Salmon AS.
