New finance chief for Nordic Halibut
THE fish farming company Nordic Halibut has a new finance chief to help take the company forward.
He is Thomas Scheele Berg (pictured) currently with currently serving as an investment manager at Fred. Olsen Investments. He takes over on August 1st.
Berg brings experience in mergers and acquisitions (M&A), equity capital markets (ECM), and Debt Capital Markets (DCM) across diverse industries.
Holding a master’s degree with a focus in finance from the Norwegian School of Economics (NHH), Nordic Halibut said Berg’s knowledge will be influential in advancing its ambitious goals of scaling sustainable halibut production on an industrial level.
“We are delighted that Berg has accepted our offer,” said Nordic Halibut CEO Edvard Henden.
“He will play a pivotal role as a key resource for the company, supporting our vision of sustainable halibut production. His experience will be a valuable asset as we progress forward.”
Meanwhile, Nordic Halibut said that aligned with the strategic harvest plan, which emphasizes biomass growth to support the adjusted commercial targets, harvest weights experienced a slight decrease during Q1 2024, averaging at 4.9 kg (4.4 kg HOG).
It added, however, that the company has observed increased price levels in recent quarters.
This decline in average harvest weight compared to previous quarters led to an average sales price of NOK 163 per kg (just over £12) in Q1 2024, marking a 3% year-on-year decrease and a 1% decline from the previous quarter.
But demand for halibut, particularly in size categories above 5 kg, remains robust, resulting in strong price performance across all size categories compared to previous periods.
And total revenue for the quarter amounted to NOK 22 million (£1.6m) , with harvest volumes reaching 150 tonnes (135 tonnes HOG).
Nordic said: “Consistent with prior communications, the company will prioritise facilitating a favourable distribution of harvest weights during this phase of the growth plan. This strategic focus aligns with the commercial strategy, aimed at increasing harvest weights in future periods to respond to market signals.
