NOAP reported Q4 2025 revenue of EUR 2.0 million and EBIT of EUR -1.9 million, with profit for the period of EUR 0.4 million (EUR 0.02 per share). Operating EBIT was EUR -3.9 million and operating EBITDA was EUR -2.4 million. Cash flow from operating activities was EUR -11.6 million and cash at period end was EUR 11.5 million. Total assets were EUR 179.2 million, equity was EUR 104.2 million (equity ratio 58%), and net interest-bearing debt was EUR 18.1 million. Commercial harvest in Q4 totaled 353 tonnes HOG, with 93% rated superior and average harvest weight of 3.3 kg HOG (4.0 kg LW); average sales price was EUR 5.74/kg, reflecting low harvest weights linked to biomass optimization. FY 2025 harvest totaled 2,026 tonnes HOG with a 97% superior rate and average weight of 3.9 kg HOG (4.7 kg LW), while end-Q4 biomass was 3,759 tonnes. NOAP said Stage 2 fish have been transferred into all RAS units and first Stage 2 harvest is expected in September 2026; Stage 2 capex estimate was revised to EUR 65.0 million, with accumulated capex of EUR 47.5 million by end-Q4. The company also completed a RMB 300 million (EUR 36.7 million) minority equity injection for a 20% stake in its Ningbo subsidiary and signed a long-term financing package led by Bank of China, including a RMB 385 million (EUR 46 million) project loan and a working capital facility of up to RMB 200 million (EUR 24 million).
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Nordic Aqua Partners AS published the original content used to generate this news brief on February 26, 2026, and is solely responsible for the information contained therein.
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