SalMar Q3 – Solid operational performance giving strong results

Results are particularly good in Norway, where the farming segments and Sales and Industry delivered strong results driven by continued solid biological, excellent operational performance, and high utilisation of capacity. Operational EBIT for the group was NOK 2,300 million. Total harvest was 78,100 tonnes. Operational EBIT per kg was NOK 29.5.Operational EBIT for Norway alone was NOK 2,274 million. Harvest volume in Norway was 74,000 tonnes and operational EBIT per kg was NOK 30.7...

Kverva, 09/11/2023 (informazione.news - comunicati stampa - cibi e bevande)

Results are particularly good in Norway, where the farming segments and Sales and Industry delivered strong results driven by continued solid biological, excellent operational performance, and high utilisation of capacity.

One year ago, in November 2022, NTS, NRS and SalmoNor became part of SalMar.

"We have put behind us another good quarter, especially in our Norwegian operations. This has given strong results. Our fish farmers in Central and Northern Norway have achieved good biological results which leads to good financial results. On land our staff and operators in Sales and Industry has handled large volumes well,” said Frode Arntsen, CEO of SalMar ASA.

“We have come a long way with the implementation of our ongoing strategic measures and, as part of this, also strengthened our financial position. The integration of operations from NRS, NTS and SalmoNor is progressing as planned. We are in fact able to extract greater synergies than we originally planned, and expect that all this will be in place by the end of the year. The sale of Frøy in the third quarter has further contributed to strengthening our financial position,” Arntsen said.

SalMar expect significant volume growth in 2024 where unutilized potential in licenses is starting to materialize. For Norway SalMar expects 257,000 tonnes, SalMar Aker Ocean 7,000 tonnes, Icelandic Salmon 15,000 tonnes and through the joint venture Scottish Sea Farms 37,000 tonnes. Including relative share from Scottish Sea Farms this gives a total of 298,000 tonnes and represent a growth of 9% from volume in 2023.

It is expected low global supply growth in 2024, and in this market SalMar will increase volume significantly.

Due to regulatory uncertainty SalMar Aker Ocean has decided that further work on offshore aquaculture in Norway is currently on hold.

The company will now fully focus on growth semi-offshore and utilize the capacity of its existing two semi-offshore units for the production of sustainable Norwegian salmon. It will also continue to explore opportunities outside of Norway.

SalMar's CEO Frode Arntsen and CFO Ulrik Steinvik will present the company's results at 08:00 CET, at Hotel Continental in Oslo. The presentation will also be available on webcast on www.salmar.no

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

Håkon Husby, Head of Investor Relations
Tlf: +47 936 30 449
Email: 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 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.

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