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1. Company Snapshot

1.a. Company Description

Ice Fish Farm AS engages in the salmon farming business in Iceland.It also operates smolt stations.The company was incorporated in 2020 and is headquartered in Seltjarnarnes, Iceland.


Ice Fish Farm AS is a subsidiary of Måsøval Eiendom AS.

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1.b. Last Insights on IFISH

Ice Fish Farm AS experienced a -5.0% performance over the past three months, driven by the company's decision to change its name to Kaldvík AS, which may have led to market uncertainty and volatility. Additionally, the publication of a company description and the admission to trading of affiliated shares on Nasdaq First North Growth Market Iceland may have contributed to the fluctuating performance.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Name change to Kaldvik AS and new ticker KLDVK

Jun -25

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Annual General Meeting of Ice Fish Farm AS completed

Jun -21

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Notice of Annual General Meeting of Ice Fish Farm AS

Jun -05

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Ice Fish Farm – Proposed change of company name

May -30

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Publication of a Company Description

May -30

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.46%)

6. Segments

Fish Farming

Expected Growth: 4.65%

Ice Fish Farm AS's 4.65% growth in fish farming is driven by increasing demand for sustainable seafood, government subsidies for eco-friendly aquaculture, and advancements in recirculating aquaculture systems (RAS) technology, which improve efficiency and reduce environmental impact.

Other

Expected Growth: 8.4%

Ice Fish Farm AS's 8.4% growth is driven by increasing demand for sustainable seafood, expansion into new markets, and investments in aquaculture technology. Additionally, the company's focus on eco-friendly practices and certifications, such as ASC and MSC, contribute to its growth. Furthermore, strategic partnerships and collaborations with suppliers and distributors enhance its market reach and competitiveness.

7. Detailed Products

Atlantic Salmon

Fresh and sustainable Atlantic salmon, farmed in the pristine waters of Norway, perfect for sashimi, grilling, or baking.

Rainbow Trout

Delicious and nutritious rainbow trout, raised in crystal-clear waters, suitable for a variety of cooking methods.

Smoked Salmon

Rich and flavorful smoked salmon, smoked to perfection using traditional methods, ideal for bagels, salads, or as a snack.

Fish Oil Supplements

High-quality fish oil supplements, rich in omega-3 fatty acids, supporting heart health and brain function.

Fish Feed

Sustainable and nutritious fish feed, formulated to promote healthy growth and development in aquaculture.

8. Ice Fish Farm AS's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes is moderate for Ice Fish Farm AS, as there are some alternative products available in the market, but they are not very close substitutes.

Bargaining Power Of Customers

The bargaining power of customers is low for Ice Fish Farm AS, as the company has a strong brand and a loyal customer base, making it difficult for customers to negotiate prices.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate for Ice Fish Farm AS, as the company relies on a few key suppliers for its raw materials, but it also has some alternative sources.

Threat Of New Entrants

The threat of new entrants is high for Ice Fish Farm AS, as the market is attractive and there are low barriers to entry, making it easy for new companies to enter the market.

Intensity Of Rivalry

The intensity of rivalry is high for Ice Fish Farm AS, as the market is highly competitive and there are many established players, making it difficult to gain market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 27.46%
Debt Cost 7.68%
Equity Weight 72.54%
Equity Cost 7.68%
WACC 7.68%
Leverage 37.86%

11. Quality Control: Ice Fish Farm AS passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Salmon Evolution

A-Score: 4.5/10

Value: 7.6

Growth: 7.1

Quality: 4.5

Yield: 0.0

Momentum: 0.5

Volatility: 7.3

1-Year Total Return ->

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Stock-Card
Grieg Seafood

A-Score: 4.4/10

Value: 8.4

Growth: 3.0

Quality: 3.2

Yield: 2.5

Momentum: 6.5

Volatility: 2.7

1-Year Total Return ->

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Stock-Card
Forafric Global

A-Score: 4.1/10

Value: 8.7

Growth: 4.6

Quality: 3.6

Yield: 0.0

Momentum: 1.0

Volatility: 7.0

1-Year Total Return ->

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Stock-Card
Gobarto

A-Score: 3.8/10

Value: 6.8

Growth: 7.3

Quality: 1.8

Yield: 0.0

Momentum: 5.0

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
Måsøval

A-Score: 3.7/10

Value: 6.2

Growth: 4.6

Quality: 1.2

Yield: 6.2

Momentum: 1.5

Volatility: 2.3

1-Year Total Return ->

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Stock-Card
Ice Fish Farm

A-Score: 2.8/10

Value: 8.0

Growth: 1.1

Quality: 3.2

Yield: 0.0

Momentum: 4.0

Volatility: 0.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

29.0$

Current Price

29$

Potential

-0.00%

Expected Cash-Flows