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2025.
- Operational EBIT for Norway was NOK 852 million in the first quarter of
2025. The harvest volume was 40,400 tonnes and operational EBIT per kg was
NOK 21.1. Operational EBIT for the Group was NOK 798 million in the first
quarter of 2025. The harvest volume was 42,700 tonnes and operational EBIT
per kg was NOK 18.7.
- The result from the farming segments in Norway is characterized by
harvesting late in the period and that fish have been harvested as a result
of fish welfare considerations, which resulted in a low average weight.
Furthermore, the share of downgraded fish has been high. In sum, this has
had a negative impact on price achievement in the quarter.
- Results from Sales and Industry driven by positive contribution from
contracts
- As expected, Icelandic Salmon harvested a low volume, and the cost is still
high.
- Scottish Sea Farms reported another good quarter with increased harvest
volume, high harvest weight and good biological status in the sea in all
regions.
“In short, we are pleased with the development in growth and survival in the
sea, but financially it is unfortunately weak as a result of harvesting late in
the period and the quality of harvested fish in the quarter,” says Frode
Arntsen, CEO of SalMar ASA.
Strengthening Our Presence in Norway
SalMar has great faith in and willingness to invest in profitable and
sustainable salmon production in Norway and has recently further strengthened
SalMar’s position. In February 2025, the purchase of a controlling stake in AS
Knutshaugfisk was completed. AS Knutshaugfisk currently has 3,466 tons MTB in
licenses and four farming locations in production area 6 in Central-Norway.
In April, the board of directors of Wilsgård AS and SalMar announced that they
had approved a merger plan for Wilsgård AS and SalMar Farming AS. Since SalMar’s
acquisition of NTS and the merger with NRS in 2022, SalMar has had a 37.5 per
cent stake in Wilsgård. Wilsgård currently has a strong presence on Senja and
has 5,844 tons MAB in licenses in production areas 10 and 11 in Northern Norway.
The merger between Wilsgård and SalMar Farming brings together two strong
players in fisheries and aquaculture, and contributes to regional development.
The merger is expected to be completed during the summer of 2025, subject to,
among other things, necessary approvals from relevant authorities.
" Wilsgård is a well-run company that, like SalMar, operates aquaculture in one
of the best areas in the world for salmon production. This merger will not only
strengthen our position in the region, but also contribute to increased
operational efficiency, cost reductions and financial robustness. We have great
ambitions for the future and look forward to further developing the combination
of our companies," says Frode Arntsen, CEO of SalMar ASA.
Outlook
The start of 2025 has shown good biological performance in the sea, entering the
second quarter with record-high biomass for the season and maintaining volume
guidance for the year.
For 2025, SalMar expects 256,000 tons in Norway, 7,000 tons from SalMar Ocean,
15,000 tons in Iceland and 32,000 tons in Scottish Sea Farms (100% basis).
Considering the relative share from Scottish Sea Farms, a total of 294,000 tons
is expected for the group, 17 per cent growth in harvest volume compared to
2024.
Although the market is characterized by global uncertainty and increased volume,
SalMar continues to experience strong demand for our products and expects lower
global supply growth in the second half of 2025 compared to what we have
experienced so far in the first half of 2025.
The full report and presentation for the first quarter are attached.
SalMar’s CEO Frode Arntsen and CFO Ulrik Steinvik will present the company’s
results today at 08:00 at Hotel Continental in Oslo. The presentation will also
be webcast on www.salmar.no.
For more information, please contact:
Frode Arntsen, CEO
Tel: +47 482 06 665
E-mail: frode.arntsen@salmar.no
Ulrik Steinvik, CFO
Tel: +47 900 84 538
E-mail: ulrik.steinvik@salmar.no
Håkon Husby, Head of IR
Tel: +47 936 30 449
E-mail: hakon.husby@salmar.no
About SalMar
SalMar is one of the world’s largest and most efficient producers of salmon. The
Group has farming operations in Central Norway, Northern Norway, Offshore and
Iceland, as well as substantial harvesting and secondary processing operations.
In addition SalMar owns 50% of 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.
Kilde
