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Record quarter for Norway Royal

Salmonids Economics +2 more

Today Norway Royal Salmon (NRS) has reported the highest quarterly operational EBIT (MNOK 205) and EBIT/kg (NOK 28.60) for a first quarter in the history of the group.

Corresponding figures for the same quarter last year were MNOK 153 and NOK 25.54.

“We are very pleased that NRS delivers a new record result. The reason for the good quarterly result is high salmon prices, and that Region South and the Sales business deliver strong results,” says CEO Charles Høstlund.

NRS harvested 7,181 tonnes gutted weight during the quarter, approximately the same as in the same quarter last year. 5,500 tonnes of the total volume were harvested in Region North and 1,681 tonnes in Region South. Estimated harvest volume is 34,000 tonnes for 2017, an increase of 27 per cent from 2016.

The sales business sold 15,714 tonnes salmon during the quarter, approximately the same as in the corresponding quarter last year. The sales business had a good price achievement in the quarter.

“The price of salmon in the quarter was the highest price recorded in a first quarter for the last 20 years. For 2017, we expect an increase in the supply to the global market of 2 to 4 per cent. A continued low supply growth and good work in the markets provides the basis for a positive market outlook,” says Charles Høstlund.

In May, Norway Royal Salmon and Grieg Seafood acquired 50 per cent each of
Nordnorsk Smolt AS. The company is located in Hasvik (Finnmark), which is a strategically good location for the NRS' operations in Region North. The acquisition will ensure access to big smolt which will contribute to better production optimization and shorter production time in the sea. The investment is in accordance with NRS' strategy to strengthen smolt production.