Grieg Seafood ASA (GRGSF) Q2 2026 Earnings Call Transcript

SA Transcripts 162.03K Followers Follow Grieg Seafood ASA ( GRGSF ) Q2 2026 Earnings Call August 27, 2026 2:00 AM EDT Company Participants Nina Grieg - Chief Executive Officer Magnus Johannesen - Chief Financial Officer Presentation Nina Grieg Chief Executive Officer Good morning, and welcome to Grieg Seafood's First half 2026 Presentation. My name is Nina Willumsen Grieg, and I'm the CEO of Grieg. I'm joined today by our CFO, Magnus Johannesen. This is the first time we're holding the presentation in Bergen, and I appreciate everyone who has joined us early this morning. Today's agenda includes updates on our operation and market activities. For the first time, we are presenting farming and sales as separate segments. And as usual, Magnus will take us through the financial results at the end of the presentation. This first half year have been challenging for Grieg Seafood. Weaker market conditions than we anticipated, combined with biological challenges and a company in transition resulted in weak financial performance. The results are certainly not to the standard that we like to set for ourselves. We harvested nearly 14,000 tonnes and delivered marginally positive results in both farming and sales. The freshwater production have been strong across all sites, while at sea, we have had a rough start to the year. However, I'm pleased that we have entered Q3 with close to maximum MAB and the fish is performing well. During the period, we ramped up Gardermoen VAP facility and implemented actions to mitigate rising feed prices. Refinancing of the hybrid marked the important last step in ensuring a long-term financing structure for our company. I will get back to details on these highlights. One slide on context on the new Grieg Seafood before we turn to the numbers. 18 months ago, we were a company managing a balance sheet problem. Today, we are a focused Rogaland operator with a clean capital