Mowi are delighted to announce that we have received another gold in the Farmand Award, Norway's most prestigious award for annual reports. Mowi has been nominated for eleven consecutive years, and we have won gold on six occasions. Among the success reasons mentioned by the judges are Mowi's integrated reporting, which includes both ESG and financial metrics. We are thrilled that the Farmand Award has highlighted the exceptional quality of our external reporting. This is a collaborative effort, and we would want to thank everyone who contributed.
Gold in the Farmand Award for Mowi! Congratulations to my colleagues on another gold in the Farmand Award, the yearly event to name the best annual report in Norway. This is the eleventh year in a row that Mowi has been on the podium and the sixth gold! Amongst the success factors, the jury mentions Mowi’s integrated reporting, encompassing both ESG and financial metrics. This has truly been a year with many records and achievements for Mowi. Most importantly, our core operations have continued to deliver operational improvements and volume growth. In our Q3 presentation we reiterated our 2024 volume guidance of 500k GWT and announced the 2025 volume guidance of 520k. As recently as 2018, harvest volumes were 375k tonnes – so this represents a growth of 145k tonnes, or 4.8% CAGR vs. 2.7% for the industry. Volume growth is one of our strategic pillars, in addition to cost and sustainability. In September, we hosted a Capital Markets Day were we presented our plans for continued volume growth in excess of the wider industry as well as further cost improvements in the order of EUR 300-400 million. In the Finance and Corporate areas, our main responsibility is to support our main operations, and naturally we strive for excellence also in these support functions. Amongst our achievements I can mention that we have been assigned a BBB+ investment grade credit rating from Nordic Credit Rating. In April, we successfully issued two green bonds totalling EUR 298 million at attractive terms. We have also implemented a new tax regime in our largest country of operation, while also preparing for the new and extensive EU reporting requirements on ESG. In November, Mowi was ranked #1 in the Coller FAIRR animal protein producer ESG rating for the sixth year in a row, where quality of reporting is always an important criteria. And now in December, our external reporting has once again been recognised by the Farmand Award for its high quality. This is a team effort – thanks to everybody involved!