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- Operational EBIT the Group was NOK 1,393 million for the second quarter.
Harvest volume was 44,800 tonnes and operational EBIT per kg was NOK 31.1.
- The Fish Farming segment in Norway showed improved biological performance,
but harsh winter conditions and extreme weather earlier in the year
continued to negatively impact the superior share and price achievement,
particularly for Farming Northern Norway.
- Sales and Industry continued to demonstrate its efficient and flexible
operational set-up. The contract share was 46 per cent, which combined with
high spot prices resulted in negative contribution.
- Icelandic Salmon reported high cost due to continued biological challenges
in the quarter and low harvest volume, affecting results.
- SalMar Aker Ocean successfully transferred smolt for a new production cycle
at Ocean Farm 1 in the quarter, with planned harvest in 2025.
- Scottish Sea Farms reported a solid quarter with increased harvest volume,
improved weights, and strong biological status in all regions.
âSalMar showed solid operational performance, improved biological results and
delivered acceptable financial results in a period marked by the aftermath of a
challenging winter season. Strong commitment from all segments has resulted in a
positive development of key performance indicators.â said Frode Arntsen, CEO of
SalMar ASA.
Sustainable growth
âIn parallel we have taken several decisions aimed at delivering on our
ambitions to deliver sustainable growth. We acquired additional production
capacity in a recent government managed auction in Norway and we been granted
10,000 tons of MAB in Icelandâ Arntsen said.
In June, SalMar was named by Time magazine as one of the worldâs most
sustainable companies, demonstrating its commitment to sustainability. And also
in June, SalMar made both its RCF and Term Loan sustainability linked by
connecting four ESG KPIs to its financing.
In August SalMar launches its updated green bond framework to finance
sustainable initiative throughout the value chain. The updated green bond
framework is available from our website.
âWe are proud to receive such recognition and awards and note with appreciation
that our efforts are also well received by the capital market. Our revolving
credit facility and term loan are now linked to certain ESG performance
indicators, and we have published updated green bond framework for which S&P
Global Ratings has provided a second party opinion of alignment with
internationally well respected methodology,â Arntsen said.
Appointed Head of Salmon Living Lab
In March 2024, SalMar launched Salmon Living Lab, an ambitious innovation and
R&D initiative together with Cargill, a global food corporation and aquaculture
feed supplier, aimed at finding and developing more sustainable solutions for
salmon farming. The initiative has attracted strong interest from various
companies in the value chain, NGOs and other stakeholders that are eager to
contribute.
In August 2024, Kristine Hartmann, currently Director of Development at SalMar
Aker Ocean, was appointed head of Salmon Living Lab. She will lead the
development of the initiative going forward and key milestones will be
communicated from the website www.salmonlivinglab.no.
Volume guiding and outlook
The harvest guidance for Norway remains unchanged at 237,000 tonnes in Norway,
7,000 tonnes from SalMar Aker Ocean and 37,000 tonnes in Scotland (100% basis).
Iceland is reduced to 13,000 tonnes.
âWe consider ourselves well prepared to continue our growth. We celebrate our
achievements, but there is no time to rest. Therefore, we are currently in the
process of reinforcing and renewing our efforts to further improve operational
control and improve efficiency in all parts of the company and along the entire
value chain,â Arntsen concluded.
The complete report and presentation for the second quarter is attached.
SalMarâs CEO Frode Arntsen and CFO Ulrik Steinvik will present the companyâs
results today at 08:00 CEST at Hotel Continental in Oslo. The presentation will
also be available on webcast on www.salmar.no (http://www.salmar.no).
For further information, please contact:
Frode Arntsen, CEO
Tel: +47 482 06 665
Email: frode.arntsen@salmar.no
Ulrik Steinvik, CFO
Tel: +47 900 84 538
Email: ulrik.steinvik@salmar.no
HĂ„kon Husby, Head of Investor Relations
Tlf: +47 936 30 449
Email: hakon.husby@salmar.no
About SalMar
SalMar is one of the worldâs largest and most efficient producers of salmon. The
Group has farming operations in Central Norway, Northern Norway and Iceland, as
well as substantial harvesting and secondary processing operations. In addition,
the company is operating within offshore aquaculture through the company SalMar
Aker Ocean and SalMar owns 50% of the shares in Scottish Sea Farms Ltd.
See www.salmar.no for more information about the company.
This information is subject to the disclosure requirements stipulated in section
5-12 of the Norwegian Securities Trading Act.
(1) Results from Norway are group results excluding segments SalMar Aker Ocean
and Icelandic Salmon.
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