Thanks to acquisitions, NTS gets higher revenue and a decline in margins

    NTS could soon become part of SalMar.

    Fourth quarter results for NTS have been significant higher due to Norway Royal Salmon (NRS) and SalmoNor acquisitions. They reported a revenue of NOK 2.6 billion (€258.8M) and earnings before interest, taxes, depreciation and amortization of NOK 479 (€47.7), compared to NOK 485 (€48.3) and NOK 172 million (€17.1M) respectively during the same quarter last year.

    The agreement regarding the merger of SalmoNor and NRS was announced in January. Since this and according to the Norwegian salmon farming giant, voluntary take-over bids could have been submitted to NTS with the condition that the merger should not be carried out.

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    For its offer to acquire NTS, SalMar received additional pre-acceptances. The number was pushed to more than 50% of the shares and giving it group control during the takeover battle. NTS’s CEO, Harry Boe, recently resigned from his position. Former CFO Roar Myhre has taken up old Boe’s position.

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