STRENGTHENED FINANCIAL POSITION
During the second quarter, Andfjord Salmon strengthened its financial position significantly. In June Jerónimo Martins, a Portugal-based international food industry group agreed to invest NOK 173.9 million in Andfjord Salmon through a directed private placement. Andfjord Salmon also secured a NOK 50 million bank loan during the second quarter.
At the end of June 2022, Andfjord Salmon held cash and deposits of approximately NOK 191 million. This figure does not include a NOK 5 million remaining loan facility, a NOK 20 million undrawn credit facility, or NOK 5 million in unpaid grants.
Q2 2022 INTERIM FINANCIAL RESULTS
Andfjord Salmon is currently developing its first land-based salmon farming facility, which means that the company does not yet generate revenues. The company’s first operating revenues will be generated in 2023 following first harvest.
The company had an operating loss of NOK 8.4 million in this year’s second quarter, compared to a loss of NOK 6.9 million in the same quarter last year. The change is mainly related to ramp up of operations in preparation for release of firsts molt.
PRESENTATIONAT 08:00 CET
A presentation of operational status and the second quarter and half-year 2022interim financial results will be held at 08:00 CET today. The presentation material and half-year report are enclosed to this announcement.
The webcast presentation, which will be held in Norwegian, can be accessed from this link: Webcast
This is information that Andfjord Salmon AS is obliged to make public pursuant to the EU Market Abuse Regulation (MAR) Article 17 no. 1. The information was submitted for publication, through the NTB Kommunikasjon service by the contact persons listed below.
Martin Rasmussen, CEO, +47 975 08 665, email@example.com
Bjarne Martinsen, CFO, +47 975 08 345, firstname.lastname@example.org
ABOUT ANDFJORD SALMON
Located at Kvalnes on the island of Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord Salmon has developed an innovative and sustainable aquaculture concept for land-based farming ofAtlantic salmon, based on a flow-through technology solution . The company's ambition is to build the world's most sustainable aquaculture facility of its kind.
Andfjord Salmon AS is listed on Euronext Growth under the ticker ANDF.