By IndiaHub 
Grieg Seafood ASA (OTCPK:GRGSF) Q1 2025 Results Conference Call May 27, 2025 2:00 AM ET
Company Participants
Nina Grieg – CEO
Magnus Johannesen – CFO
Conference Call Participants
Christian Nordby – Arctic Securities
Nina Grieg
Good morning, and welcome to Grieg Seafood’s First Quarter Presentation. We appreciate that so many have taken the time to join us. My name is Nina Willumsen Grieg, and I’m joined here today by our CFO, Magnus Johannesen. I have been CEO in Grieg Seafood for 8 weeks. However, I’ve been in the company for 10 years across regions and working in different roles in the full value chain.
The last 4 years, I’ve been heading Rogaland and bring with me firsthand operational experience and a deep understanding of the building blocks of a successful salmon production. I’m entering this role at a challenging time for the company. Grieg Seafood have a long and proud history and a strong asset portfolio, but we are not happy with the results of the previous years.
The combination of an ambitious CapEx program, biological challenges and a turbulent geopolitical situation has led us with a financial situation that isn’t sustainable. Ensuring financial robustness is at the top of our agenda to create value for all shareholders. I believe both Magnus and myself can bring new perspectives to the company while building on the foundation that is.
And with that, let’s take a look at Q1 and our key priorities for 2025. For Q1, we delivered an EBIT of NOK220 million or NOK10.6 per kilo, with Rogaland, the main margin contributor. As we have seen lower spot prices than anticipated throughout Q1, this reflects early operational improvements. Farming costs for the full group improved 3.4 kilo versus Q4 due to better biology.
We are happy to report that underlying