Kaldvik AS (KLDVK) Earnings Call Transcripts

Kaldvik AS's Latest Earnings Call - Q1 FY2026

In Q1 2026, Kaldvik AS reported a revenue of approximately EUR 36.5 million, driven by the harvest of 6,441 tonnes, all from the challenging '24 generation. The operational EBIT was negative EUR 26.4 million, primarily due to high costs and low superior share, which ended at 30%. Management maintained their full year harvest guidance at 17,000 tonnes, while securing fixed price contracts for 35% of their production to mitigate market volatility. The company's financial situation remains precarious, necessitating a EUR 20 million subordinated loan from their main shareholder to address potential covenant breaches.

Reported metrics

Guidance from management

Kaldvik maintained its full year harvest guidance at 17,000 tonnes and expects to harvest 1,900 tonnes in Q2 2026, all from the '25 generation.

What management said

So, the delay really comes down to process — it isn't tied to any one particular problem. It's more the result of a complicated operating year combined with a rigorous audit. On the financial calendar, as we've said previously, quarterly company updates will be provided, and financial reports come out twice a year — a half-year report plus an annual report. The upcoming company update covers the first half, and it's ...

We have a few questions. Your fresh strategy doesn't appear to tackle head-on what you've described as your biggest issue over the past few years — wounds, which drive early harvest and down rates. What's your plan for fixing those problems?

What analysts pressed on

Analysts expressed concerns regarding the effectiveness of the new production strategy in addressing past issues with winter wounds. There were also questions about the ongoing market volatility and its potential impact on future earnings and operational stability.

Main topics on the call

• Challenging Harvest from '24 Generation — The '24 generation faced severe challenges, leading to a total harvest volume of 6,441 tonnes, which was 5,500 tonnes less than anticipated. CEO Vidar Aspehaug noted, "the disappointing results with the '24 generation ha...
• Positive Outlook for '25 Generation — The '25 generation is showing promising signs with a milestone output of 8.25 million smolts, exceeding the target of 7.5 million. Aspehaug stated, "we are seeing better performance in the '25 generation than we saw at t...
• Financial Covenant Waiver Secured — Management identified risks of breaching financial covenants and secured a waiver from financial partners, along with a EUR 20 million subordinated loan from their main shareholder. CFO Hjalti Hvitklett confirmed, "we st...
• Implementation of New Production Strategy — Kaldvik is transitioning to a new production strategy aimed at reducing mortality rates and increasing superior share. Aspehaug mentioned, "we are now adapting our output plan going forward to increase the share of fish,...

Read the full Kaldvik AS transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 14 Kaldvik AS earnings call transcripts on record, spanning August 30, 2023 to November 13, 2026. Based on this history, Kaldvik AS reports quarterly. The most recent call on file is dated November 13, 2026. The full list is below — each row opens the transcript.

Ticker

KLDVK

Exchange

Oslo Bors

Country

NO

Sector

Consumer Staples

Industry

Food Products

Calls on record

14

First call

August 30, 2023

Most recent

November 13, 2026

Reporting cadence

quarterly