Good results are the aftermath of strong utilization of increased production capacity
The company harvested a total of 56,400 tonnes, which gives an operational EBIT of NOK 15,78 per kg. This means SalMar made an Operational EBIT of NOK 890 million in the fourth quarter of 2021, up from NOK 748 million in the previous quarter. The board of directors recommend a dividend of NOK 20 per share for the 2021 financial year.
“Our team has delivered impressive performance in key areas, resulting in record high harvest volumes in Q4 and for the full year, due to strong utilization of increased production capacity”, said SalMar’s CEO Gustav Witzøe. Despite this, he added that “results in Q4 are weakened by higher cost related to handling of biological challenges to safeguard fish welfare and weak price achievement”. Nevertheless, Witzøe was optimistic and believes that “in this showcase there is still room for improvements across the entire value chain”.
Actually, for 2022 SalMar expects an increase in volume in all regions in which it operates. The forecast for Norway is 175,000 tonnes, Iceland 16,000 tonnes, and Scotland 46,000 tonnes.
Searching for sustainable growth
Sustainable food production has been SalMar’s hallmark for over 30 years. This effort continues meanwhile the company aims to be the leading salmon producer in both coastal aquaculture as well as offshore aquaculture.
SalMar’s CEO announced that, for 2022, they are planning significant investments to strengthen tehir platform for further sustainable growth. “In total, we expect to invest 2.1 billion in our value chain across all regions in 2022, where the main proportion is investments which will give us increased capacity and flexibility to grow our volume”, said Witzøe.
One of these investments will be the already announced voluntary offer for all outstanding shares of NTS ASA. The offer values NTS’ total equity at approximately NOK 15.1 billion or NOK 120 per share and more than 50% of the NTS shareholders have pre-accepted it.
SalMar is one of the world’s largest producers of salmon. The Group has farming operations in Central and Northern Norway and Iceland, as well as substantial harvesting and secondary processing operations in Norway, at InnovaMar in Frøya, InnovaNor in Senja and Vikenco in Aukra. In addition, the company is operating within offshore aquaculture through the company SalMar Aker Ocean. SalMar also owns 50% of the shares in Scottish Sea Farms Ltd.