© SalMar
SalMar has reported a slaughter volume of 60,300 tonnes in the third quarter, with an operational EBIT of NOK 17.3 per kg. Norway accounted for the majority of this, with a slaughter volume of 56,400 tonnes and an operational EBIT of NOK 19.2 per kg. However, biological challenges, including sea lice and environmental factors, led to reduced volume expectations for 2024 in this region.
SalMar CEO Frode Arntsen emphasised the company’s resilience during this period.
“Although the result is affected by challenges at sea, the structure we have in SalMar is solid and rigged to handle challenging periods. We are fully focused on improving performance and exploiting the potential in our value chain," Arnsten said, in a press release.
Strengthened presence in Norway
SalMar has taken a significant step to enhance its Norwegian operations by acquiring a controlling stake in Knutshaugfisk, a family-run company with four farming locations in central Norway. The deal is set to close in January 2025 pending regulatory approval.
“Knutshaugfisk is a well-run family company with which we have developed a close and value-creating collaboration over many years. This acquisition is a natural continuation of this partnership,” Arntsen remarked.
Future goals
SalMar has identified NOK 1.2 billion in potential savings through value chain optimisations. Building on synergies from its previous acquisitions, the company is working to streamline operations and boost efficiency across its integrated structure, with these savings expected to materialise by 2029.
In addition to operational improvements, SalMar Aker Ocean reported progress on its offshore operations, with production cycles underway on both Ocean Farm 1 and Arctic Offshore Farming. Slaughter volumes from these projects are expected to resume in 2025, contributing to an anticipated group harvest volume of 294,000 tonnes, a 14 percent increase over 2024.
