Ice Fish Farm takes €8.3m write-down

Heavy loss in Q2.

Icelandic salmon farmer Ice Fish Farm reports operating EBIT before adjusted for biomass write-down NOK 18.1 million (EUR 1.7 million)  for the second quarter of 2022 and EBIT per kg of NOK 16,2 (EUR 1.6).

Corresponding figures for the same quarter last year were NOK 69 million (EUR 6.6 million) and NOK 13,9 (EUR 1.3). Unadjusted EBIT before fair value adjustment of biomass amounted to NOK –85.8 million (EUR -8.3 million).

“Sales where manly on the spot market in Q2, that gave good price for relatively small size fish,” the company said in an annpuncement.

Harvested volume in Q2 2022 increased slightly and reached 1,117 tonnes compared to 1,090 tonnes in Q2 2021.

Ice Fish Farm acquired all shares in competing salmon farmer Laxar Fiskeldi in Q2, increasing maximum allowed biomass from 16,000 tonnes to total of 43,800 tonnes.

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