Miami, Florida, 18 November 2025
Key points
o Stable biological performance - Sustained biological improvements, with fish
in production achieving >99% survival rates and steady harvest weights above 3kg
HOG, and a total harvest volume of 1,427 tons HOG in Q3
o Commercial momentum - Average sales price around USD 8.58/kg, +19% premium to
comparable price indexes, with record high premium share of 95%
o Operational improvements - Feeding rates at all-time highs and biological feed
conversion ratio (bFCR) sustained at 1.30, showing structural improvement
o Cost trajectory under control - Q3 costs temporarily elevated from one-off
maintenance and infrastructure upgrades, but efficiency measures implemented are
expected to drive cost/kg down from Q1 2026
o Platform ready for growth - Expected to reach 7,000 ton full-year production
and EBITDA positive by end 2026, unlocking Phase 2 expansion and long-term
platform value creation opportunity
o Financing secured - Successful placement of USD 35m convertible loan to fund
Phase 1 operations towards EBITDA break-even, supported by strong participation
from key shareholders
Pedro Courard, CEO of Atlantic Sapphire ASA, comments, "Our operations continue
to perform consistently, with stable biology, strong fish health, and improving
production efficiency across all systems. Survival rates remain above 99%,
harvest weights are consistently above 3 kilograms, and feeding efficiency has
reached structural highs. These developments strengthen our confidence in the
underlying economics of the business and our ability to further reduce cost per
kilogram as we move into 2026. With a more predictable operation and clear
visibility toward EBITDA break-even by the end of 2026, we are laying the
foundation for sustainable profitability and long-term value creation for our
shareholders."
Atlantic Sapphire will host a digital presentation of the operational update
today at 5:00 pm CET. The presentation can be accessed with the following link:
http://bit.ly/3WHAGli
Following the presentation, it will be opened for questions from the audience.
Participants need to register to post questions.
The presentation and the following Q&A session will be in English.
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 7,500-8,500 tons (HOG) of salmon annually. The
Company completed its first commercial harvest in the US in September 2020.
Atlantic Sapphire is currently developing its Phase 2 expansion, which will
bring total annual production capacity to 25,000 tons and has a long-term
targeted harvest volume of >100,000 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.