Welcome everyone to the quarter four presentation for Icelandic Salmon AS. We are glad that you took your time today to watch our session. With me today, I have our CFO, Jónas Heiðar Birgisson, to present the financial numbers, and our business development manager, Jón Garðar Jóhannsson, to lead the Q&A session. In the background today, we see our site, Sjaldanes, where we have the 2021 generation that we just started harvesting on in January. After the presentation, there will be a Q&A session, and you can email questions to the email address, questions@arnarlax.is. Icelandic Salmon is listed on the Euronext Growth market in Oslo. The company is the sole owner of, and parent company of Arnarlax hf. All operational activities of the group are performed in Arnarlax hf, and Arnarlax Sustainable Icelandic Salmon is the common brand for all our operational activities and products from Icelandic Salmon. We have now four smolt facilities with a current capacity of 7-8 million smolt, depending on the size of the smolt. Our farming activities is here on seven sites in three fjords in the Westfjords of Iceland. All our production in sea is ASC certified, and we have a total maximum allowed biomass of 23,700 tons. Our harvesting plant and headquarters is in our hometown, Bíldudalur, in the Westfjords of Iceland. The harvest plant is BRC certified. The capacity of the harvest plant is 30,000 tons per year, and in 2022, we harvested approximately 25,000 tons in the harvesting plant, included harvest for third party. We also have our own sales team that we have been building up in Iceland over the last few years. They are selling our products both domestically and out in global markets. We are very excited about our strategic positioning towards the North American markets, which I will talk more about later. The sales team is now six persons on sales and logistics. Q4 2022 gave an all-time high quarterly harvest volume of 6,008 tons compared to Q4 2021, which was at 4,272 tons. And the full year harvest volume increased by 40% to 16,138 tons compared to 11,521 tons in 2021. EBIT for the year ended at EUR 36.1 million, an all-time high, alongside with a 78% top-line growth of the revenues between the years from EUR 90.8 billion in 2021 to EUR 157.6 million in 2022. Summarized, a record quarter and year for Icelandic Salmon. Volume guidance for 2023 is 16,000 tons, and we expect a significant increase in 2024. For Q1 2023, we expect a stable volume compared to Q4 2022. We have over Q4 seen a reduction in cost compared to a Q3, when we started harvesting on the 2021 generation. We will now continue to harvest on the 2021 generation in Q1 and Q2. We expect some cost increase in 2023 due to increased raw material prices. This is based on that we allocate our cost to stock on the biomass and have not seen the full effect of the high feed prices and other raw materials and input factors in 2022 yet. Even though we see a decrease in feed prices, now, we have built much biomass on the peak of the feed prices, so it will take some time until we see the effect of the decreased feed prices. We see very strong market price and good price achievement compared to the market for quarter four. We had some effect on the price achievement due to quality downgrades at the end of the quarter. This was due to wounds on the fish. The wounds did not result in any significant increased mortality. We also harvested quite large fish in quarter four, which was good compared to the market with good prices on the big fish. That helped on the price achievement. On the other side, we saw an increase in the market price during the quarter, but most of our volume were harvested in the beginning of the quarter. That had a negative impact on the total price achievement. We see a strong interest for Icelandic Salmon our product, in the market. We are working closely with more companies across North America and Europe, and we have an active focus on participation in seafood exhibition, offering our ASC-certified Icelandic Salmon to the global market. We also have experienced increased interest from the Canadian market in Q4. Volumes to the US market, quarter by quarter continues to grow, and it was an all-time high level in Q4 2022. We also had a big proportion of that volume transported with boat to the market, which was up to 82% of our product. When it comes to contracts, we had a contract share in quarter four of 24% and is expected to be at a level of approximately 10% for 2023 as it looks now. This may change quickly, but for time being, we are experiencing a strong demand for our Icelandic Salmon. The North American market is growing, and the North American market is at the moment the biggest market for Atlantic salmon with approximately 600,000 tons annually. Compound annual growth rate for the US has been forecasted to up to 9.6% until 2030, highlighting the significant growth opportunities in the market. With Icelandic Salmon ideally positioned to capitalize on that growth. I also like to give an update on our license situation and license applications. Arnarlax now hold licenses for 23,700 tons of maximum allowed biomass in the Icelandic Westfjords, Arnarfjörður, Patreksfjörður, and Tálknafjörður. We have new sites within existing licenses that we have applied for. Currently in process to establish more sites for better maximum allowed biomass utilization. First site has been issued in Patreksfjörður. We are also working on expansion of current sites in Arnarfjörður in an application process. We will need to go through an environmental assessment. It takes some time. We also have application for a farming license in Ísafjarðardjúp that is still in process for 10,000 ton of maximum allowed biomass. We expect a clarification of that during the year. We are unsure about the share of fertile fish in that license. This has been further delayed related to updates on the white beams on the sailing routes in the, in the fjord. That is also under assessment at the moment. We have an application for expansion in Arnarfjörður of 4,500 tons. That was not processed by the authorities. We are now working on an environmental assessment for that expansion. We expect that this will then be auctioned out in the future. We are in a position to be a part of that auction. Exact timeline for that is not set. Give the word over to our CFO, Jónas Heiðar Birgisson, to go over the financial update. Thank you, Bjørn. Good morning, everyone. I will be presenting an overview of Icelandic Salmon's financial position for the fourth quarter of 2022, highlighting the key changes and the main drivers behind them. By end of 2022, Icelandic Salmon's net interest-bearing debt amounted to EUR 56 million, representing an increase of EUR 10.7 million from the end of previous quarter. The primary reason for this increase were investment activities during the quarter, an increase in biological assets, and changes in accounts payables and receivables. The net cash flow from investing activities was close to EUR 6 million in the quarter, totaling up to EUR 27 million during the financial year compared to EUR 15 million in 2021. Within the quarter, there was an increase of fixed asset by EUR 3.3 million and EUR 36 million within the financial year. The main driver for the increase within the financial year were investment and changes in goodwill and intangible assets due to acquisition of Ísþór, but that amounted to EUR 14.4 million. Current assets also experienced significant changes over the year, mainly driven by an increase in biological assets at fair value by EUR 17.2 million compared to the end of 2021. Previous presentations, we've discussed the company's growth projects. In summary, the group's growth projects aim to increase biological assets and harvesting, thereby expanding group operations. We have already seen results from this, with increased harvesting volume and increased biological assets both in the sea and on land within our group's smolt facilities. As a result, the group's biological assets at fair value increased by 26% between the end of 2021 and end of year 2022. The group plans to continue its growth further with expected investments of EUR 30 million within the current year. This allows the group to further utilize its license as described in our previous presentations. Overall, Icelandic Salmon financial position remains strong, with a 37% increase in assets from the end of 2021. The group ended 2022 with total assets of EUR 235 million, with the main drivers for the increase being the group's PP&E and acquisition of smolt facility, Ísafjarðardjúp, as well as increase in the group's biological assets at fair value. The group met all covenants, and our equity ratio remained steady between the third and fourth quarters of 2022, demonstrating our commitment to maintain a sound financial position and our ability to generate profit from our operations. Further information about our financial position for the financial year of 2022 will be disclosed in our full annual statement that will be issued on our website on 22nd of April. I want to thank you all, I'll give the word back to Bjørn Hembre. Thank you, Jónas. I want to give a little historic perspective of the development in Icelandic Salmon. In 2013, an interview was made with Matthías Garðarsson, one of the founding fathers of Arnarlax. He was overlooking the town of Bíldudalur. The company had at the time no operations yet, and Matthías boldly predicted that it should be created 150 new jobs. This was in a town with approximately 150 inhabitants at the moment. At this point in time, no one would touch salmon farming in Iceland with a ten-foot pole, and very few people believed in salmon farming at the time, let alone they were willing to put their own money and risk to establish the company. An ambitious goal in an area where population have been declining and job opportunities have been scarce. In 2023, around 200 people work for Icelandic Salmon and Arnarlax with operation in five Icelandic municipalities, and as you saw, with a revenue of EUR 150 million. Arnarlax is now one of the biggest employers in the Westfjords and all of Iceland. Today, Icelandic Salmon have operation in all parts of the value chain, and there are room for further growth. Under the current risk assessment for the wild stock issued by the Marine Research Institute, there is a potential of 106,500 tons of maximum allowed biomass for fertile salmon in Iceland. Of the 106,500 tons, licenses have been issued for 86,800 tons. The assessment is reevaluated every three years, and the next evaluation is this year, 2023. In addition, a total of 10 fjords have a calculated carrying capacity for biomass of 144,500 tons. This is calculated based on the organic load from the aquaculture activity. This is making Iceland potentially one of the largest Icelandic Salmon producers in the world. Production in Iceland was for 2022 around 45,000 ton of live weight production. Close to 42% of that was produced by Icelandic Salmon. We expect that the ratio between maximum allowed biomass and harvested volume head and gutted over time will develop up to 1.2. This is within the existing licenses and the license regime as it is today for the company. The growth that we have seen over the last years and the result we present today have not been possible without our very dedicated employees that stretch every day to achieve good results within a sustainable framework. Thank you all for that. We will soon move over to our Q&A session. We hope that you also will follow us there. Please send questions to questions@arnarlax.is. Thank you so far. Welcome to the questions and answers session of our presentation. My name is Jón Garðar Jóhannsson, I'll be directing the questions to my colleagues today. Once again, I would like to remind you can still send in questions at questions@arnarlax.is, We will do our best to direct the questions and answer the question as they come in. We already have a question from Ola Trovatn, we're gonna start with that. Question to you, Bjørn. Can you comment on the demand in the US market? Do you see any effects of the strong US dollar and lower supply from the Canadian market in Q1? Yes. We feel a strong demand in the US market and the lack of fish from the Canadian market is, of course, affecting it. We also see that the Canadian market is demanding more fish from us, so we have sold a significant more to the Canadian market lately. Okay. Maybe, one more question here from Ola. Can you comment on the superior share and the average harvest weight in Q4? The average harvest weight was quite high, around 5 kilos. The exact superior share, I don't have, but it was a significant amount of downgrades on one of our sites. That affected the price achievement. Yes. Thank you. A question here from Axel Jacobsen. He asks, similar harvest volumes in Q1, how will the harvest profile look for the remainder of 2023? The increased harvesting in Q1 is a consequence of the wounds that we saw in quarter four and still experience. It will affect the volumes in quarter two. As usual, we will have an highest volumes in quarter three and four. Yeah. Okay. Another question from Axel is, when in 2023 do you think we can expect the risk assessment to be conducted? Do you know that? There is not a set date for that. We expect or hope that it will be before the summer. Yeah. Thank you. Maybe one question for you, Jónas, here from Ola Trovatn. CapEx guidance for 2023. Any? Yeah. We guide on EUR 30 million in CapEx, and that's mostly in seawater or over two-third of our CapEx. That's for continuing growth projects in seawater equipment such as cages, nets, barges, and so on. A question again from Ola. You guide for significant volume growth in 2024. Will you be able to do this without meaningful increases in fixed cost? Yes, we plan for that. We have a company and an organization that is able to handle the future growth. We expect to have the same fixed cost level, so there should be some benefits there. Okay. another on cost from Axel this time. How much of the feed inflation is reflected in Q4 2022 costs? Do you have any? That's... It is a significant part of it is, I don't have a number in my head here. Of course, the fish we harvest in quarter four is mainly put into sea in 2020. It's a significant part. Yes. Okay. Thank you. Again, you, Jónas, on the investment part. In relation to these planned investments, is the company planning to issue any green bonds or using green financing in any way? Yeah. Well, we, in our current finance, in our current loan agreement, it will expire in June next year. We started a refinancing process on those loans and, taking maybe a look further ahead. We've just started that process. We are open for all possibilities as in, green financing, but we are, have our main focus on sustainability loan, as for today. This is a work in process and we just have to see what comes up on the table. Another one from Ola Trovatn is, contract share of around 10% for 2023 is in the lower part of your targeted range, despite forward prices being between NOK 80-90 for the year. Does this mean you have an optimistic view? We have an optimistic view on the market going forward. We haven't been able to reach or goal prices for contracts. That's why the contract share is in the lower end. Definitely optimistic for the market going forward. Thank you. Another one, when do you think you will reach a harvest volume to MAB ratio of around 1.2 as you mentioned in the presentation? That will take some time. We are now adapting our smolt production. We get good control of all the facilities last year, and then we will then get the right sizes and so on, right size and numbers of smolt. It will take some time and we also need to get the last two sites in place for the optimal MAB utilization. Yeah, so it's, it will take some time. It will not be next year, but in the coming years. Okay. Maybe related slightly to this answer, but you mentioned in the Q3 presentation that the government was working on a strategy document relating to the industry in Iceland. Do you have any updates on this? We are expecting some information there in the coming one to two weeks from the Boston Consulting Group that was hired in from the ministry. It's expected that their report will be published quite soon. That is of course the first step, and then it's of course a political process after that. That will probably take some time, but maybe we can start to see a picture soon at least. Thank you. Another question from Axel Jacobsen. Higher prices for 2023 contracts versus 2022. Yes. That is what we have been aiming for. That's... The contracts we have for 2023 is definitely higher than the 2022 contracts. Mm-hmm. Next question. Limitation on freight vessel. Is there a limitation on the freight vessel to the North American market? What we have today is a vessel that leaves every Tuesday evening to Portland. We can harvest Monday, Tuesday, Sunday, Monday, and half Tuesday to get fish on that vessel. Rest of the week is excluded. Then we got an addition this autumn with a vessel every third Friday, which is a good supplement to be able to increase the volume to that market. Yeah. There is a logistic limitation, but we have to try to utilize the options we have the best. Okay. We just got one question in from Guðmundur Oddur Eiríksson from Vís. He asks, "You mentioned that it was under review to list the company on the main market on Nasdaq Iceland. Any reflection on that? That is still a subject that is under consideration, and it's no final decision made yet. Okay. Thank you. I actually think we have answered all the questions that have been sent. I guess I will thank you for the questions so far, and see you soon. Thank you for joining us.