Villa Organic AS forth quarter 29 Highlights Forth quarter 29 The fourth quarter was a good quarter for the Villa Group. The EBIT was 12,1 MNOK and net profit before tax 8,8 MNOK The harvested volume in Finnmark was 2 987 tons. Growth in biomass in Villa Arctic in Finnmark was according to prognosis Lice have not been a major problem for the company. The number of lice in Finnmark is nearly non existence. In Romsdal there have been delicing on one site. The company is successfully using Wrasse to keep the lice under control. Successfully implemented new biological and economical report system The company is still in a build up process both in Finnmark and Romsdal. The licenses in the group have not been fully utilized, hence this give the company significant growth potential in the years to come. The new factory in Finnmark has shown an improvement in operational stability. The cost associated with the operation is reduced in Q4. Financial key figures The operating revenue in Q4 was 119,6 million NOK. EBITDA for the period was 16,3 million NOK and EBIT was 12,1 million NOK. EBIT/kg was NOK 4,5. The company is not adjusting the biological assets according to the IFRS accounting principles.
Villa Organic (group) Key Financial figures (1 NOK) Q4 Q3 Q2 Q1 YTD 29 YTD 28 Total Operating Income 119 861 77 451 46 994 52 511 296 817 357 362 EBITDA 16 323 6 65-17 65 3 794 9 162-23 217 EBIT 12 18 1 744-23 35-492 -9 675-47 514 Profit/loss before tax 8 793-2 567-18 72-6 54-18 98-65 375 Harvest Volume (HOG) Finnmark 2 987 1 414 21 893 5 315 Harvest Volume (HOG) Romsdal - 695 142-837 Harvest Volume (HOG) Total 2 987 2 19 163 893 6 152 Balance Sheet: Fixed Assets 274 757 24 117 Current Assets 317 974 218 488 Total Assets 592 731 458 65 Equity 199 18 138 92 Long Term Liabilities 249 324 269 45 Current Liabilities 144 389 5 28 Total Equity and Liabilities 592 731 458 65 Equity Ratio 34 % 3 % Operational Performance In Møre the biomass per December was 266 tons with average weight,65 kg. The biomass in Finnmark reached 9.912 tons, of which 649 tons was the 27 generation with average weight 5,49 kg. The 28 generation reached 7.46 tons with average weight 3,58 kg. The 29 generation reached 1.856 tons with average weight,83 kg. Accumulated cost of fish in sea in Finnmark for 27 generation was NOK 17,56 pr kilo and for the 28 generation NOK 18,21 pr kilo. The growth has been strong in the first part of the quarter but declining towards the end. Temperature in sea in Finnmark was by the end of the quarter 3,3C. The strategy to streamline the production and optimize operational and biological performance will continue. The group has established a Bio Security team. The team is actively guiding operational activities within the group. Harvested volume in Q4 was 2987 tons. Expected harvest volume in Q1/21 is abt. 3. tons. We expect low growth of biomass in the first quarter of 21. The biggest growth in biomass is expected in the third and fourth quarters.
Sales and Market Outlook The long term BtoB strategy has awarded us with premium prices for Organic and Best Practice Salmon. A large part of the company's expected production in 21 is sold to customers in line with this strategy. Trout has in 29 been sold at spot prices to the Russian market. We expect prices to be solid for salmon and trout in 21 Board of Directors Vikebukt 16th of February 29 - Appendix: o Information about shareholders pr 31.12.9 o Quarterly Financial statement for 29 and Balance sheet pr 31.12.9
The 1 biggest shareholders at the end of Q4 are as follows; Name: Stock % AKVAINVEST AS 36 941 29 4,8 % CENTENNIAL AS 11 139 73 12,3 % B & J HOLDING AS 8 53 763 9,4 % JEA INVEST AS 8 53 763 9,4 % ODIN NORGE 7 59 46 8,4 % VILLA GROUP INVEST AS 7 161 65 7,9 % NETTFOND AS 2 866 846 3,2 % MILLCOM NORGE AS 1 724 315 1,9 % OJADA AS 1 724 315 1,9 % BENTNESET INVEST AS 862 157 1, % Income Statement Villa Organic AS 1 2 3 4 29 Operating Income 52 511 46 51 74 764 119 654 292 98 Other Income 943 2 687 27 3 837 Total Income 52 511 46 994 77 451 119 861 296 817 Changes in Inventory 7 46 31 923 53 532 11 529 14 444 Cost of goods -39 615-75 2-12 43-88 832-35 69 Wages -7 795-7 263-11 352-12 86-39 27 Other operating costs -8 767-14 59-1 938-13 375-47 139 EBITDA 3 794-17 65 6 65 16 323 9 162 Depreciation -4 286-5 43-4 96-4 215-18 837 EBIT -492-23 35 1 744 12 18-9 675 Interest from group entities Other interest 84 528-56 1 279 1 835 Gains on futures VO 1 49 8 811-1 22 38 38 Gains on futures VS 12 272 2 12 472 Interest to group companies -41 41 Other interest -5 587-5 594-4 211-74 -16 96 Other financial items -1 918 588-2 55-4 439-7 824 Net financial items -6 12 4 333-4 311-3 315-9 35 Profit/loss before tax -6 54-18 72-2 567 8 793-18 98
Balance Sheet (1. nok) Assets 31.12.29 Equity and Liabilities 31.12.29 Intangible assets Licences 55 92 Share Capital 9 497 Deferred Tax Asset 46 975 Share Premium 924 Goodwill 94 Total Restricted Equity 91 421 Total Intangble Assets 13 6 Property, buildings etc 54 699 Machinery and Equipment 65 31 Other Equity 126 582 Ships, rigs etx 22 686 Result brought forward -18 984 Other assets, furniture, tools etc 12 644 Total Retained Equity 17 598 Total Fixed Assets 155 34 Total Equity 199 19 Investment in associated entities 4 177 Other investments 23 Long term loans 12 21 Liabilities Total Financial Fixed Assets 16 41 Bond 2 Liabilities to financial institutions 2 113 Total non-current assets 274 757 Other long term debt, leasing 47 211 Total Long Term Liabilities 249 324 Current assets Inventory 254 468 Current Liabilities Accounts receivables 31 44 Liabilities to financial institutions 89 13 Other accruals, 17 783 Accounts Payables 41 536 Bank deposits, cash at hand 14 282 Tax, VAT etc 6 139 Total Current Assets 317 974 Other short term debt 7 699 Total Current Liabilities 144 388 Total Assets 592 731 Total Liabilities 393 712 Total Equty and Liabilities 592 731