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"At Måsøval, we measure progress in more than numbers – we look at direction, structure, and ability to develop," the company said in a statement.

Despite the harvest rise, various biological problems increased costs and weighed on prices, causing the group's operating EBIT to fall by almost 80%.

Although the company managed to close the year with an increase in total harvest volume, Q4 figures were negative in almost all indicators.

Faced with a weaker operating result than expected, the Norwegian salmon farmer had already issued a profit warning to its investors.

The Norwegian salmon farmer, which had already announced its trading update for Q3 2024 earlier this month, issued a new statement to warn its investors.

This is compared to last year and after lowering its harvest estimate for the year 2024 following cases of infectious salmon anemia in Frøya.