Arctic Fish Keeps Growing

Arctic Fish site in Vestfjörður. Photo: Arctic Fish.
Arctic Fish site in Vestfjörður. Photo: Arctic Fish.

Arctic Fish has reported its continued investment in growth projects aimed at securing larger parts of the value chain and increasing overall competitiveness. The company invested 114 MNOK in the quarter and a total of 447 MNOK for the year, with plans to invest more in growth projects over the next few quarters. These investments are focused on expanding the smolt operation in Talknafjordur and the harvesting facility in Bolungarvik, which will improve operational scale and mitigate biological risk.

Arctic Fish Holding recorded an operational operating profit of NOK 27.8 million in the fourth quarter of 2022, compared to NOK 27.5 million in the same period the previous year, according to the company's quarterly report released on Wednesday.

Despite the increase in production costs to 52.3 NOK pr. kg, higher than the costs in the previous quarter of 49.1 NOK pr. kg, Arctic Filet achieved a farming EBIT margin of 22.4 NOK pr. kg harvested in the quarter, higher than the 10.1 NOK pr. kg EBIT margin achieved in Q4 2021. Market prices amounted to 74.7 NOK pr. kg in the quarter. The company harvested 1,343 tonnes within the quarter, a decrease compared to the same period last year when harvested quantities were 2,938 tonnes.

Arctic Fish's operational performance was strong, with revenues amounting to 100 MNOK and an operational EBIT of 27 MNOK in the quarter. Notably, MOWI purchased 51.28% of the company, making it a significant shareholder in Arctic Fish.

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