Nordic Halibut AS exceeded 2022 revenue target and is well-positioned to reach growth phase 1 production targets.
Nordic Halibut exceeded the 2022 revenue target by 7%, ending at NOK 80 million. High price achievement in key markets led to an average sales price of 165 NOK/kg HOG in Q4 2022 (+17% YoY) and 149 NOK/kg HOG for FY 2022 (+19% YoY). This demonstrates the high willingness-to-pay and established price level for quality farmed halibut products in high-end markets – a strong foundation for future growth. Peak season for farmed halibut sales continuous into Q1 2023 with price levels expected to remain high.
During Q4 2022 the Company harvested 195 tonnes HOG, with FY 2022 harvest volumes ending at 537 tonnes HOG. Nordic Halibut will continuously seek to optimize biomass utilization and boost market conditions towards long-term production targets. Strategic allocation of harvest and sales volumes is key to maintain high price achievement while building market position in new and existing channels in cooperation with partners.
The production ramp-up is advancing according to plan with all-time high 700.800 fish put to sea during 2022. This is equivalent to a harvest volume of 3.500 tonnes (3.150 tonnes HOG) in 2025. Through several production cycles Nordic Halibut has proven stability and predictability in the sea phase production with 1 fish put to sea equal to 5 kg harvested three years after release. This proven metric shows a significant de-risking of production targets once fish is put to sea.
In 2023, Nordic Halibut will put 1 million fish to sea – equivalent to the growth phase 1 production target of 5.000 tonnes (4.500 tonnes HOG) harvest in 2026.
For further information, please contact:
CEO Edvard Henden, edvard@nordichalibut.no, +47 911 41 165, or
CFO Kenneth Meyer, kenneth.meyer@nordichalibut.no, +47 452 12 424