Lerøy Seafood Group reports "higher than expected" harvest volumes during fourth quarter

Lerøy Seafood Group has released its trading update for the fourth quarter of 2024, indicating significant growth in its salmon and trout harvest volumes compared to Q4 2023. However, the company reported a decline in wild catch volumes during the same period.

In Q4 2024, Lerøy Seafood harvested a total of 56,800 GWT (gross weight tonnes) of salmon and trout, a 19.6% increase from the 47,500 GWT recorded in the final quarter of 2023.

This brought the total harvested volume for 2024 to 171,200 GWT, compared to 159,600 GWT in 2023, reflecting a year-on-year growth of 7.3%, excluding harvests from Scottish Seafarms, which it jointly owns with SalMar.

In Lerøy Aurora, the company reports a volume of 15,400 GWT, up from 12,500 GWT during the same period in 2023. Meanwhile, Lerøy Midt achieved 22,600 GWT (20,300 in Q4 2023) and Lerøy Sjøtroll reached 18,800 GWT (including 8,200 GWT of trout), compared to 14,700 GWT (6,500 trout) in the same period last year.

In contrast to its aquaculture operations, Lerøy Seafood Group's wild catch segment Lerøy Havfisk fared less well during the fourth quarter. Total catch volumes for Q4 2024 stood at 9,800 tonnes, down from 12,500 thousand tonnes in Q4 2023. Of this, cod accounted for 3,100 tonnes,down from 5,000 tonnes the previous year.

For the full year, wild catch volumes decreased from 75,900 tonnes in 2023 to 65,000 tonnes in 2024, reflecting a 14.4% decline year-on-year.

The complete Q4 2024 report will be released on 28 February 2025.