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BioFish Holding (BFISH) investor relations material
BioFish Holding Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved strong operational and financial performance in Q1 2025, with 323 tons of post-smolt delivered, up from 206 tons in Q1 2024, and high product quality and price realization.
Revenue doubled to NOK 34.5 million from NOK 17.2 million year-over-year, driven by higher volumes and improved pricing.
Secured several new contracts, increasing order backlog to 720 tons annually for 2025–2027.
Positive cash flow and net profit of NOK 5.7 million; strategic review process, announced in January 2025, is ongoing and progressing as planned.
Financial highlights
EBITDA of NOK 11.0 million (Q1 2024: NOK 0.7 million); EBIT improved to NOK 8.0 million from a loss of NOK 2.3 million.
Net income was NOK 5.7 million, compared to a loss of NOK 3.8 million in Q1 2024.
OPEX increased to NOK 23.5 million, mainly due to higher sales, partly offset by organizational improvements.
Cash flow from operations increased to NOK 11.9 million from NOK 5.8 million year-over-year.
Cash and cash equivalents at quarter-end were NOK 10.1 million.
Outlook and guidance
Volume guidance for 2025 raised to 1,000–1,200 tons, reflecting strong biological performance and demand.
Approximately two-thirds of 2025 capacity already committed; strong contract backlog for 2025–2027.
Delivery for Q2 rescheduled to Q3 to align with customer preferences.
Norwegian government white paper on aquaculture may impact licensing, but long-term demand for high-quality post-smolt remains robust.
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