Bodø, Norway, 24 March 2022.
The Board of Directors of Gigante Salmon AS has approved the annual accounts for 2021, and the 2021 annual report has today been published.
The report is attached to this stock exchange announcement and published on the company's website: https://gigantesalmon.no/investor/rapporter-og-presentasjoner/
Highlights for 2021 include:
Financials:
• Net profit of NOK 2.7 million
• Strong, financial position with equity ratio at 94.2%
• Successful Private Placement of NOK 222 million and long term financing granted
Significant events 2021:
• Listing on Euronext Growth Oslo 5 July
• Start of project execution/civil work in Gigante Salmon Rødøy 1 September 2021
• Investments in Gigante Salmon Rødøy progressing according to plan
CFO comments:
“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. Investments in Gigante Salmon Rødøy are progressing according to plan, and we still expect first release of smolt in autumn 2023”
In connection with the Annual Report 2021, 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/annual-reports/9e29pdqd
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
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.