The following is a summary of the High Liner Foods Incorporated (HLNFF) Q4 2024 Earnings Call Transcript:

Financial Performance:

• High Liner Foods reported a 1.3% increase in volume and an 8.7% increase in adjusted EBITDA for Q4 2024.

• Gross profit for Q4 increased by 4.7% to $51 million, and gross profit margin increased by 120 basis points to 21.7%.

• Adjusted EBITDA for Q4 rose by $1.9 million to $23.8 million, while adjusted EBITDA as a percentage of sales improved to 10.1%.

• Net income for Q4 decreased by 7.8% to $5.9 million, with diluted earnings per share remaining constant at $0.20.

Business Progress:

• High Liner Foods focused on strategic investments in Norwegian aquaculture companies Norcod and Andfjord, investing approximately $6 million in Norcod and $10 million in Andfjord.

• The company continues to focus on value-added products, expanding distribution, and innovation to support growth in both retail and foodservice sectors.

Opportunities:

• High Liner Foods is positioned to leverage trends in aquaculture and sustainable seafood, looking to bring Norcod and Andfjord products to North America.

• Continued innovation and strategic promotional activities are planned to address seasonal shifts and consumer demand dynamics.

Risks:

• The company faces potential impacts from tariffs, changing consumer behaviors towards dining, and inflation's effect on raw material costs.

• Macroeconomic factors and seasonal shifts in demand, such as a delayed Lenten period, may affect performance in 2025.

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