Arctic Fish: A successful fourth quarter of 2021

February 23 2022: Arctic Fish continued its strong performance in the 4th quarter of 2021. The company harvested and sold more salmon than in any prior year in the history of the company. Harvesting a total of 11,500 tonnes throughout the year and therefore increasing volumes by 54% year over year and harvesting 2,900 tonnes in the quarter.

The operational farming EBIT amounted to 10.1 NOK pr. kg. The operational EBIT in the quarter amounted to 27.5 MNOK and increased by 40 MNOK year over year. For the year the EBIT amounted to 128 MNOK, with the net profit reaching 152.5 MNOK.

The price achievement in the quarter was the major driver for the good operational farming EBIT with an average price achievement of 56.6 NOK pr. kg. for sold salmon in the quarter, compared to an average price achievement of 38.2 NOK pr. kg in Q4 2020. The  company throughout the year 2021 had already established competitive production costs, which can also be attributed to the success seen for the year. Revenues accounted for 166 MNOK in the quarter and total revenue for the year amounted to 595.9 MNOK.

The company will have a formal presentation of the Q4 results and performance. The management offers shareholders and investors, as well as the general public the possibility to discuss the published documents through the webcast the company will host at 09:00 am GMT // 10:00, am CET on the 23rd of February 2022. The link to the webcast can be found in the prior announcement or on the company website.

The presentation materials and an interim report are attached to this notice and can also be found on the company website. https://www.arcticfish.is/investor-relations/ and https://www.arcticfish.is/presentations/

For further information contact: Neil Shiran Thorisson, CFO, [email protected], +354 8315300

The original press release can be found at Euronext.com.