Miami, FL, 20 August 2025
Atlantic Sapphire ASA (“Atlantic Sapphire” or the “Company”) will publish its H1 2025 Report on 31 August 2025, later than the previously communicated date of 21 August 2025.
To provide timely information ahead of the H1 2025 Report, the Company today shares the main operational and financial highlights for the first half of 2025, which demonstrate material improvement in operational, biological and financial results.
Operational highlights H1 2025
• Harvest volumes of 2,486 tons (HOG), up from 2,384 tons in H1 2024
• Average harvest weights nearly doubled to 2.86kg in H1 2025, reaching 3.1/kg in Q2 2025
• Sales prices increased 86% to USD 8.67/kg, with fresh sales in Q2 reaching USD 9.27/kg
• High premium share with mortality at record lows, stronger feeding and steady biomass gain
• Continued improvement in system reliability with less downtime, stable water quality, and strengthened SOPs
• Filet production insourced, improving product quality, reducing costs, and strengthening value creation
Financial highlights H1 2025
• Revenue of USD 21.5 million, almost doubling from USD 11.1 million in H1 2024
• EBITDA of negative USD 30.7 million, improved from negative USD 46.6 million in H1 2024
• The Company remained in compliance with all financial covenants at period-end
CEO comment
Pedro Courard, CEO of Atlantic Sapphire ASA, comments, “The first half of 2025 represents a turning point for Atlantic Sapphire. Operations are now stable, biological performance is at record levels, and financial results are rapidly improving. With harvest weights above 3kg and prices higher than reference price indices in Q2, we have clear line of sight to profitability. We expect to deliver our first positive EBITDA quarter by the end of 2026 and see a clear foundation for profitable growth and expansion from there.”
For further information, please contact:
Pedro Courard, CEO
Gunnar Aasbo-Skinderhaug, CFO
investorrelations@atlanticsapphire.com
About Atlantic Sapphire ASA
Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming,
locally, and transforming protein production, globally. Atlantic Sapphire
operated its innovation center in Denmark from 2011 until 2021 with a strong
focus on R&D and innovation to equip the Company with the technology and
procedures that enable the Company to commercially scale up production in end
markets close to the consumer.
In the US, the Company holds the requisite permits and patents to construct its
Bluehouse® in an ideal location in Homestead, Florida, just south of Miami. The
Company's Phase 1 facility is in operation, which provides the capacity to
harvest up to approximately 9,500 tons (HOG) of salmon annually. The Company
completed its first commercial harvest in the US in September 2020. Atlantic
Sapphire is currently constructing its Phase 2 expansion, which will bring total
annual production capacity to 25,000 tons and has a long-term targeted harvest
volume of 220,000 tons.
This information is published in accordance with the requirements of the
Continuing Obligations for companies listed on Euronext Oslo Børs and Section
5-12 of the Norwegian Securities Trading Act.