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Nordic Halibut AS – Operational update Q4 2024

Writer's picture: NORDIC HALIBUTNORDIC HALIBUT

Averøy, Norway, 09.01.2025


Nordic Halibut AS ("NOHAL" or "the Company") witnessed increased price levels in

Q4 2024, with an achieved price of 183 NOK/kg HOG for the quarter, representing

a 12 % price increase compared to the same quarter last year. NOHAL’s achieved

sales price has increased across all size categories compared to Q4 2023, in

addition the price increase is supported by higher average harvest weight in Q4

2024 compared to the same quarter last year. For the full year of 2024, NOHAL

achieved an average sales price of 167 NOK/kg. In comparison, the sales price

for Q4 2023 and FY 2023 were 164 and 161 NOK/kg, respectively.


Sales revenue for Q4 2024 amounted to NOK 31 million, with harvest volumes

reaching 171 tonnes HOG. FY 2024 sales revenue and harvest amounted to NOK 90

million and 539 tonnes HOG, respectively.


The average harvest weight of 6.3 kg HOG for the quarter reflects the Company's

commitment to increasing harvest weights, but this may continue to show

variation from quarter to quarter going forward.


The biomass is performing well, demonstrated by a 13% biomass growth during the

quarter, net of harvest compared to Q3 2024. Including the harvested amount this

represents total production at sea of 21% of biomass during the quarter.


As previously stated in the Q3 2024 interim report, for 2024 one of three

production batches for release of fish to sea were delayed, leaving only two

batches for the full year. This contributed to the number of fish released to

sea being lower than expected at 500 thousand individuals compared to the

release target of 1 million individuals. For 2025 this is expected to result in

a catch-up effect, which together with the addition of the Tjeldbergodden

facility, lays the foundation for the release target of 1.2 million individuals

for 2025.


For further information, please contact:

CEO, Edvard Henden

+47 91 14 11 65


or


CFO, Thomas Scheele Berg

+47 92 88 48 56



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