Nordic Halibut AS (“NOHAL” or “the Company”) has observed a continuation of the upward trend insales prices in Q3 2024. The increase was consistent across size categories compared to the samequarter last year and demonstrates the strong demand for halibut and willingness to pay for qualityfarmed halibut. In Q3 2024, the company achieved an average sales price of 163 NOK/kg HOG,representing an 11% increase YoY.
The Company also experienced an increase in harvest weights, averaging 4.8 kg HOG, compared toQ3 2023’s average harvest weight of 4.3 kg HOG. Nordic Halibut is still prioritizing harvest ofsmaller individuals to optimize the size distribution of the outstanding biomass with the ambition toincrease average harvest weight over time, which is expected to lead to further improvements inprice achievement. Total revenue for Q3 2024 amounted to NOK 17 million, with harvest volumesreaching 107 tonnes HOG.
The strategy to harvest smaller individuals to prioritize the growth and flexibility of the biomass atsea is yielding strong results. This is demonstrated by a 14% biomass growth during the quarter, netof harvest compared to Q2 2024. Including the harvested amount this represents total productionat sea of 21% of outstanding biomass during the quarter.
This focus aligns with the commercial strategy aimed at increasing harvest weights in futureperiods to respond to market signals. The overarching objective remains to optimize the utilizationof available biomass, even if it entails potential impacts on short-term harvest volumes.For further information, please contact:
CEO, Edvard Hendenedvard@nordichalibut.no
+47 91 14 11 65
or CFO,
Thomas Scheele Bergthomas.berg@nordichalibut.no
+47 92 88 48 56
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