Atlantic Sapphire lost at least $ 3 million on fish mortality

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Atlantic Sapphire has released the annual report for 2019, and provides new information on the financial impact of the mortality that occurred at the plant in Denmark last month.

On February 29, 227,000 salmon died in one of the divisions at Atlantic Sapphire’s plant in Denmark. According to the company, preliminary analyses showed that mortality was due to higher levels of nitrogen than desired in the department, which was related to design modification. Harvest income has been reduced by four months due to the incident.

In a stock exchange statement on Thursday morning, Atlantic Sapphire publishes its annual report for 2019, confirming that the cause of death was “too high nitrogen levels in the water”. The fish in the plant was insured.

“While Atlantic Sapphire Denmark is currently assessing the overall financial impact of the incident, losses adjusted for insurance coverage are estimated at $ 3 million,” Atlantic Sapphire writes in the report.

According to the company, other systems at Atlantic Sapphire’s Bluehouse in Denmark and Florida have already been modified, or are being modified with design improvements to avoid similar events in the future.