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GIGANTE SALMON AS: Publication of Q1 2022 Report

05/05/2022

GIGANTE SALMON AS: Publication of Q1 2022 Report

Bodø, Norway, 05 May 2022.

 

Highlights for Q1 2022 include:

•       Good progress towards completion of Gigante Salmon Rødøy facility. Project moving forward in accordance with prepared and approved plans and in line with planned and approved cost limits.

•       Contract for feed barge awarded to Endúr Sjøsterk. Delivery expected in May 2023.

•       Key personnel hired. Quality co-ordinator Kristine Ødegård has extensive experience from the aquaculture industry and comes from a position as operations manager with Silver Seed. Technical manager Kristian Aanes is an Engineer with extensive experience from the maritime industry.

•       Applied for permission to establish rockfill in waters southeast of Lille Indre Rosøy island that will enable electricity regeneration and secondary treatment of wastewater.

•       Nano-oxygenation research collaboration established with LetSea AS, Fishbase Group AS and Tess AS

 

As the group is still at the development stage, Q1 sales revenues were, for the second year running, NOK 0 million. The operating profit of NOK -1.3m corresponds to the operating costs.

– Gigante Salmon is in a strong, financial position, with both financing for construction phase granted and long term financing granted, in addition to a biomass build-up working capital of NOK 140 million. We are pleased that investments in Gigante Salmon Rødøy are progressing according to plan, and we still expect first release of smolt in autumn 2023, says CFO Rune Johansen.

 

In connection with the Q1 2022 Report, Gigante Salmon is pleased to invite you to a management presentation at 10:00 CET. The presentation will be held by CEO Helge E. W. Albertsen and CFO Rune Johansen, and will finish off with a Q&A session where you may submit questions in writing. The presentation will be held in Norwegian.

Link to webinar: https://gigantesalmon.no/investor/websendinger/#/gigante-salmon/quarterly-earning-reports-2022/05e036et

 

For further information, please contact:

Helge E. W. Albertsen, CEO.
Phone: +47 480 47 613
E-mail: helge@gigantesalmon.no

Rune Johansen, CFO
Phone: +47 988 44 724
E-mail: rune@gigantesalmon.no

 

The full Q1 2022 report is attached to this stock exchange announcement and published on the company’s website: https://gigantesalmon.no/investor/rapporter-og-presentasjoner/

 

About Gigante Salmon:

Gigante Salmon is a land-based salmon farming company with its first production facility under construction on Lille Indre Rosøya in Rødøy, Norway. The company’s aquaculture concept is based on a flow-through system, combining the benefits of conventional and land-based aquaculture while simultaneously eliminating issues associated with conventional, sea based, farming, i.e. sea lice and escapes as well as reduced mortality, emissions, feed waste and impact on nearby surroundings.

 

See www.gigantesalmon.no for more information on the company.

 

QuarterReport_Q1_2022[28]

 

 

 

 

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