Andfjord Salmon: Integrated annual report 202514.4.2026 08:02:32 CEST | Andfjord Salmon | Annual financial and audit reports
Andfjord Salmon Group AS (Andfjord Salmon) has today published its integrated annual report for 2025.

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About Andfjord Salmon AS
Andfjord Salmon has developed an innovative and sustainable aquaculture concept for shore-based farming of Atlantic salmon. The company's ambition is to build the world's most sustainable aquaculture facility of its kind. The facility is escape-proof, lice-free and its highly filtered effluent avoids polluting marine life.
Located at Kvalnes on the island of Andøya on the Arctic Archipelago of Vesterålen, Norway, the company's first facility is currently under construction. The company holds a license to produce 12 600 tonnes (HOG) for land-based farming of Atlantic salmon and has secured rights to land for a planned expansion of an additional 77,400 tonnes (HOG) production capacity. Further expansion is subject to the zoning of the land and granting of licenses.
Andfjord Salmon AS is listed on Euronext Growth under the ticker ANDF. www.andfjordsalmon.com
Andfjord Salmon Group AS (Andfjord Salmon) has today published its integrated annual report for 2025.
UFI AS has notified that it has rolled forward agreements for the purchase of 715,000 shares in Andfjord Salmon Group AS at a price of NOK 54.4154 and rolled forward agreements for the purchase of 1,308,597 shares in Andfjord Salmon Group AS at a price of NOK 58.5343. UFI Capital AS has notified that it has rolled forward agreements for the purchase of 52,000 shares in Andfjord Salmon Group AS at a price of NOK 57.0884. The exposure of UFI AS and UFI Capital AS in Andfjord Salmon Group AS remain unchanged following these transactions. Andfjord Salmon Group AS board member Kim Strandenæs is CEO of UFI AS and UFI Capital AS.
Andfjord Salmon Group AS ("Andfjord Salmon" or "the company") today reports that growth in pools K0 and K1 at Kvalnes, Andøya, is increasingly outperforming expectations with continued healthy biological conditions in the two pools.
Andfjord Salmon Group AS (Andfjord Salmon) invites investors, analysts, lenders and media to an operational update and presentation of the company’s fourth quarter and interim full-year 2025 financial results. Date: Wednesday 25 February 2026 Time: 08:00 CET Presenters: CEO Martin Rasmussen and CFO Bjarne Martinsen The webcast presentation can be viewed from this URL: https://qcnl.tv/p/4v4kKc5gCsQOqfrG0yLQGQ The presentation will be held in English. Questions can be submitted during the live webcast. The presentation material will be published at 07:00 CET on the same day.
The board of Andfjord Salmon Group AS ("Andfjord Salmon" or the "Company") has granted options to the following primary insiders of the Company: Martin Rasmussen, CEO: 250,000 options Bjarne Martinsen, CFO: 150,000 options Christian Torgersen, COO: 80,000 options Trond Rismo, CCO: 80,000 options Each option entitles the holder to subscribe for one new share in the Company at a price of NOK 28.80 per share (based on a ten-day volume-weighted average price (VWAP)) and will vest over a three-year period, with one third vesting after 12 months, an additional third after 24 months, and the remaining third after 36 months. Please refer to the attached document for further details.
Reference is made to the stock exchange announcement by Andfjord Salmon Group AS ("Andfjord Salmon" or the "Company") on 15 December 2025, regarding the conclusion of a private placement of new shares in the Company (the "Private Placement"). Reference is further made to the stock exchange announcement on 30 December 2025 regarding an extraordinary general meeting of the Company resolving to authorize the Company's board to issue new shares, thus authorizing issuance of shares in tranche 2 of the Private Placement ("Tranche 2"). The share capital increase related to issuance of 5,463,126 Offer Shares in Tranche 2 of the Private Placement has today been registered with the Norwegian Register of Business Enterprises. The new share capital of the Company is NOK 107,191,154.00 divided into 107,191,154 shares, each with a nominal value of NOK 1.00.
Andfjord Salmon Group AS (“Andfjord Salmon”) reports continued strong biological performance at its Kvalnes facility on Andøya. Salmon in pool K0 has reached an average weight of 1 kilogram per fish ahead of schedule, while pool K1 has entered a phase of accelerating growth with results exceeding expectations.
An extraordinary general meeting of Andfjord Salmon Group AS (the "Company") was held today, 30 December 2025, at 13:00 hours (CET). In accordance with the proposal from the board, the extraordinary general meeting resolved to authorize the board to issue new shares, thus authorizing issuance of shares in tranche 2 of the private placement announced by the Company 15 December 2025. The minutes from the meeting will be made available on the Company's website.
Reference is made to the stock exchange announcement by Andfjord Salmon Group AS ("Andfjord Salmon" or the "Company") on 15 December 2025, regarding the conclusion of a private placement of new shares in the Company (the "Private Placement"). The Private Placement is divided into two tranches, with one tranche consisting of 6,085,000 Offer Shares ("Tranche 1") and a second tranche consisting of 5,463,126 Offer Shares ("Tranche 2"). The share capital increase related to issuance of Offer Shares in Tranche 1 of the Private Placement has today been registered with the Norwegian Register of Business Enterprises. The Offer Shares in Tranche 2 have been conditionally allocated by the Board and completion of Tranche 2 and delivery of the Offer Shares thereunder remains subject to an extraordinary general meeting of the Company scheduled to be held on 30 December 2025 authorizing the share capital increase pertaining thereto. The new share capital of the Company is NOK 101,728,028 divided into
Reference is made to the stock exchange announcement published by Andfjord Salmon Group AS ("Andfjord Salmon" or the "Company") on 15 December 2025 regarding the successful private placement of 11,548,126 new shares (the "Private Placement"). The board of directors calls for an extraordinary general meeting of the Company with proposed resolution to authorise the Board to increase the share capital in one or more share capital increases through issuance of new shares. The extraordinary general meeting will be held at 13:00 CET on 30 December 2025 at the Company's offices at Havnegata 19, Sortland. The notice with the board of director's proposal for resolutions is attached hereto. Relevant documents referred to in the notice are also made available onwww.andfjordsalmon.com
UFI AS has notified that it has rolled forward agreements for the purchase of 715,000 shares in Andfjord Salmon Group AS at a price of NOK 53.4759 and rolled forward agreements for the purchase of 1,308,597 shares in Andfjord Salmon Group AS at a price of NOK 57.5825. UFI Capital AS has notified that it has rolled forward agreements for the purchase of 52,000 shares in Andfjord Salmon Group AS at a price of NOK 56.1601. The exposure of UFI AS and UFI Capital AS in Andfjord Salmon Group AS remain unchanged following these transactions. Andfjord Salmon Group AS board member Kim Strandenæs is CEO of UFI AS and UFI Capital AS.
On June 30, 2025, it was announced that UFI CAPITAL AS purchased 428,571 shares at a price of NOK 33.20 per share from LABOREMUS INVEST AS. The share purchase was part of a financing arrangement for the seller. LABOREMUS INVEST AS will buy back the same number of shares at the same price from UFI CAPITAL AS. Today, UFI CAPITAL AS has notified that it is selling the same number of shares (428,571 shares) back to LABOREMUS INVEST AS at the same price (NOK 33.20 per share). UFI CAPITAL AS is a company closely associated with Kim Strandenæs, who is a member of the Company's board of directors. Please see the attached PDMR form for further details.
Andfjord Salmon Group AS ("Andfjord Salmon" or “the company") today provides an update on its fish farming operations, which are experiencing stable biological conditions, high survival rates and healthy growth, and presents the company’s third quarter financial results.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL Reference is made to the stock exchange announcement by Andfjord Salmon Group AS ("Andfjord Salmon" or the "Company") on 15 December 2025, regarding certain business updates as well as a private placement of new shares in the Company (the "Private Placement"). The Company hereby announces that it has allocated 11,548,126 new shares (the "Offer Shares") in the Private Placement at a subscription price of NOK 26.70 per share (the "Offer Price"), raising total gross proceeds of approximately NOK 300 million. The Private Placement is divided into two tranches, with one tranche consisting of 6,085,000 Offer Shares ("Tranche 1") and a second tranche consisting of 5,463,126 Off
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL Reference is made to stock exchange notices released by Andfjord Salmon Group AS ("Andfjord Salmon" or the "Company") on 3 December 2025 and 11 December 2025 relating to the engagement of a new contractor to complete remaining works at the site at Kvalnes (the “New Contractor”) as well as a claim for compensation towards the prior contractor at the site (the “Claim”). As further described herein, and in relation to this and the investment budget at Kvalnes, Andfjord Salmon has secured additional funding as a precautionary measure. BUDGET REVISIONS FROM CONTRACTOR AND CLAIM FROM ANDFJORD SALMON The Claim from Andfjord Salmon against the prior contractor is in excess of NO
Andfjord Salmon Group AS (Andfjord Salmon) invites investors, analysts, lenders and media to an operational update and presentation of the company’s third quarter 2025 financial results. Date: Tuesday 16 December 2025 Time: 08:00 CET Presenters: CEO Martin Rasmussen and CFO Bjarne Martinsen The webcast presentation can be viewed from this URL: https://qcnl.tv/p/GieayTPCEQETvAYTdKY7hA The presentation will be held in English. Questions can be submitted during the live webcast. The presentation material will be published at 07:00 CET on the same day.
Andfjord Salmon Group AS (Andfjord Salmon) has reached an agreement with North Norway-based contractor Entreprenør Harald Nilsen AS, together with concrete specialist Nornebygg AS as subcontractor. Together they will complete the two next land-based pools that form part of the current build-out phase at Kvalnes, Andøya.
Andfjord Salmon Group AS (“Andfjord Salmon”) has submitted a claim of NOK 1+ billion against main contractor AF Hæhre & Contur Ans (“the contractor”). The claim relates to grossly negligent performance of the contractor’s obligations and wilful breach of its civil works contract in connection with the construction of Andfjord Salmon’s land-based aquaculture facility at Kvalnes, Andøya, Norway.
Andfjord Salmon Group AS (Andfjord Salmon) today reports survival rates, growth and ramp-up of biomass at its land-based aquaculture facility at Kvalnes, Andøya, Norway.
Reference is made to the stock exchange announcements made on 19 November 2025 regarding approval of the prospectus prepared by Andfjord Salmon Group AS (the "Company") for the listing of its three-year senior secured bond issue of NOK 750 million (the "Bonds") on Euronext Oslo Børs (the "Listing"), and the Company's application for Listing of the Bonds. The Listing of the Bonds has been approved by Euronext Oslo Børs. The first day of trading in the Bonds on Euronext Oslo Børs will be 21 November 2025.
About Andfjord Salmon AS
Andfjord Salmon has developed an innovative and sustainable aquaculture concept for shore-based farming of Atlantic salmon. The company's ambition is to build the world's most sustainable aquaculture facility of its kind. The facility is escape-proof, lice-free and its highly filtered effluent avoids polluting marine life.
Located at Kvalnes on the island of Andøya on the Arctic Archipelago of Vesterålen, Norway, the company's first facility is currently under construction. The company holds a license to produce 12 600 tonnes (HOG) for land-based farming of Atlantic salmon and has secured rights to land for a planned expansion of an additional 77,400 tonnes (HOG) production capacity. Further expansion is subject to the zoning of the land and granting of licenses.
Andfjord Salmon AS is listed on Euronext Growth under the ticker ANDF. www.andfjordsalmon.com