Andfjord Salmon AS (DE:50R) has released an update.
Andfjord Salmon AS has reported strong progress in the construction of its Kvalnes facility, with the next two pools shaping up and the waterways reaching 73% completion. The company completed a successful NOK 350 million equity raise, strengthening financial flexibility for the expansion, which aims to increase production capacity to 8,000 tonnes HOG by 2025 and eventually 40,000 tonnes at Kvalnes. Despite no salmon production in Q2 2024 and a reported loss, the company has achieved impressive biological results and is implementing a ‘post-smolt’ strategy to boost earnings.
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