SalMar issued a stock market announcement on Wednesday at noon, revealing details about its capital plans, including various strategic initiatives and growth forecasts. Among the data provided, the need for economic sustainability was emphasized, along with criticism of the "salmon tax." The company also discussed its international outlook and forecasted a 33% increase in its harvests while achieving significant cost reductions.
In the stock market announcement, one of the key topics was the company's intention to continue expanding in all regions, with a strong emphasis on economic sustainability. There was also room for criticism of the "salmon tax" in Norway, which the company deemed concerning.
Furthermore, the company announced that the combined growth potential of SalMar across all regions would result in a future harvest volume of 362,000 tons. This figure represents an increase from the previously projected 273,000 tons for 2023, translating to a 33% growth. Importantly, this growth is achievable without requiring significant investments to expand capacity.
Finally, the company reported a substantial annual cost savings increase of NOK 173 million (EUR million/USD million) resulting from the integration of NTS, NRS, and SalmoNor, with 71% of these savings achieved by the end of August 2023.
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 Scotland. 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.
