BioFish

“We are proud of our team and thankful for their dedication and hard work this quarter, which has led to operational and financial progress. We continue to receive positive feedback on the smolt and post-smolt we have delivered, and biological performance at our facility remains strong,” said Sondre Johnsrud, CEO at BioFish.

BioFish has secured several new contracts in the first quarter with long-standing customers. These agreements bring the total annual sales volume to approximately 720 tons for 2025, 2026 and 2027. In addition, BioFish will receive ~25 tons of smolt in April 2025 from an existing customer, which will be delivered back in July. This will add ~120 tons to the expected total post-smolt volume for 2025.

“We have implemented several strategic and organisational improvements in 2024, and we are now seeing the first results, including positive cash flow and net profit. We are optimistic about the coming year, with over two-thirds of the volume already sold, and we maintain a positive outlook on the long-term demand for post-smolt,” Johnsrud adds.

For 2025, BioFish expects to deliver 1,000-1,200 tons of high-quality smolt and post-smolt, including contracts announced in the first quarter. Due to customer preferences, some volumes originally scheduled for the second quarter will now be delivered in the third quarter, but this will not affect full year volume guidance. Additionally, BioFish sees potential for further capacity from 2027 onward.

In early 2025, a strategic review was initiated to explore growth opportunities for BioFish and increase shareholder value. The process is still ongoing, with updates on outcomes to be expected by the end of the second quarter of 2025.

The presentation material and report for the first quarter of 2025 are attached to this notice.

For additional information please contact:

Sondre Hagerup Johnsrud, CEO
Mob: +47 975 79 321 Email: sondre.johnsrud@biofish.no

Johnny Duedahl, CFO
Mob: +47 982 06 833 Email: johnny@biofish.no

About BioFish

BioFish is a Norwegian independent producer of high-quality smolt and post-smolt. The company has a RAS production facility in Ljones close to the Hardangerfjord on the west coast of Norway. Numerous Norwegian fish farming sites are located within one day of transport.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.