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Visual21 Nov 2025
Data center suppliers
FIFAX (FIFAX) investor relations material
FIFAX H2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2024 earnings summary5 Mar, 2025
Executive summary
All facility units operational after restart, with fish stock at capacity and weekly harvests resumed in October 2024; all harvested fish sold and cumulative sales surpassed €1M.
Operations fully restarted after IHN virus shutdown, with improved biological performance and ASC certification achieved.
Revenue for 2024 reached €0.5M, with 82 tonnes of gutted fish delivered; all production units at Eckerö facility operational.
Financing of €4M raised, with €2M in loans granted but not yet disbursed; further funding required to complete restart and scale up.
Significant investments in biosecurity and production efficiency made, though some upgrades postponed due to financing constraints.
Financial highlights
Revenue for 2024 was €0.5M, up from zero in 2023; H2 2024 revenue was €464K.
Operating loss for 2024 was €6.0M, improved from €6.7M in 2023; net loss for 2024 was €6.9M, compared to €7.2M in 2023.
Cash and equivalents at year-end were €523K, down from €4.1M a year earlier; cash flow from operations was -€5.5M.
Investments totaled €560K in 2024, mainly for facility improvements.
Equity ratio declined to 57% at end-2024 from 79% in 2023.
Outlook and guidance
Sales expected to scale up significantly in spring 2025 as operations stabilize and average harvest weight increases.
Focus for 2025 on optimizing fish stock composition, improving biological performance, and providing production volume guidance in the half-year report.
Long-term goals include expansion, advisory/licensing revenue, >€125M sales, and >25% EBITDA margin by 2030.
A long-term delivery agreement covers 1,200 tonnes of gutted fish in 2025, about 40% of plant capacity.
Further technical upgrades and automation planned to enhance efficiency and reduce manual labor.
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Frequently asked questions
FIFAX Abp is a Finland-based company specializing in land-based fish farming. The company's operations encompass the entire production chain for farmed rainbow trout, including hatching, cultivation, purging, and slaughter. This process occurs at its facility in Eckerö, located in the Åland region. FIFAX uses a closed-loop system to minimize environmental impact and control external factors like climate and water quality. Its primary market includes customers in mainland Finland and Sweden, where it supplies fresh, whole, and gutted rainbow trout. The company is headquartered in Eckerö, Finland, and its shares are listed on the Nasdaq Helsinki.
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