The China-baseed company is scaling up its production capabilities, with construction of the second stage at the Gaotang facility underway, adding 4,000 tons capacity, and preparations for the third stage are in progress.
Land-based salmon farmer Nordic Aqua has achieved significant milestones in the first quarter of 2024, marking a successful transition from the project phase to full operational status.
Throughout the first quarter, the company reported good operational and biological performance across all batches, with excellent fish health and welfare, and no signs of maturation, according to the company’s quarterly report, released Thursday.
The company produced 967 tons of biomass during the quarter, bringing the total biomass to 2,046 tons by the end of the quarter.
Additionally, the hatchery for Stage 2 has been completed, further strengthening the company’s commercial and operational competence.
Financially, Nordic Aqua reported available liquidity of €28 million as of March 31, 2024. The company commenced its first commercial harvest and sales in mid-April, achieving a cumulative harvest volume of 92 tons by May 10.
CEO Ragnar Joensen highlighted this milestone, noting that the first commercial harvest was not only a technical success but also a testament to the superior quality of their product, branded as Nordic PureAtlantic.
“The first quarter was a pivotal chapter in the journey to becoming a premium supplier of Atlantic salmon to the Chinese market,” said Joensen.
“Following a successful test harvest towards the end of the quarter, Nordic Aqua carried out its first commercial harvest in April. This milestone was not only a technical success but a testament to Nordic Aqua’s superior quality.”
Looking ahead, Nordic Aqua expects to harvest between 500 and 600 tons HOG in the second quarter of 2024, with a full-year projection of 3,400 tons HOG.
The expected full EBIT cost is €6.70 per kilogram HOG, supplemented by €0.80 per kilogram HOG in expansion costs, totaling €7.50 per kilogram HOG. The company is also scaling up its production capabilities, with construction of the second stage at the Gaotang facility underway, adding 4,000 tons capacity, and preparations for the third stage are in progress.
