Grieg Seafood ASA
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Grieg Seafood ASA
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Grieg Seafood ASA
Grieg Seafood ASA is an international seafood company, which engages in farming of salmon and trout. The company is headquartered in Bergen, Hordaland and currently employs 753 full-time employees. The company went IPO on 2007-06-21. The company is the parent company of the Grieg Seafood Group (the Group). The Group’s business activities relate to the production and trading in the sustainable farming of salmon and trout. The Group’s production capacity of farmed salmon and trout is of around 95 000 tons gutted weight annually. The Group has 100 licenses for salmon production and five licenses for smolt production. The Group has operations in Finnmark and Rogaland, Norway; in British Columbia, Canada; and in Shetland, the United Kingdom. As of December 31, 2013, the Company had 16 wholly owned, both directly and indirectly held, subsidiaries, including Grieg Seafood Rogaland AS, Erfjord Stamfisk AS, Grieg Seafood Finnmark AS, Grieg Seafood Canada AS and Grieg Seafood Hjaltland UK Ltd, among others. As of December 31, 2013, its largest shareholder was Grieg Holdings AS (49.97%).
Grieg Seafood ASA is an international seafood company, which engages in farming of salmon and trout. The company is headquartered in Bergen, Hordaland and currently employs 753 full-time employees. The company went IPO on 2007-06-21. The company is the parent company of the Grieg Seafood Group (the Group). The Group’s business activities relate to the production and trading in the sustainable farming of salmon and trout. The Group’s production capacity of farmed salmon and trout is of around 95 000 tons gutted weight annually. The Group has 100 licenses for salmon production and five licenses for smolt production. The Group has operations in Finnmark and Rogaland, Norway; in British Columbia, Canada; and in Shetland, the United Kingdom. As of December 31, 2013, the Company had 16 wholly owned, both directly and indirectly held, subsidiaries, including Grieg Seafood Rogaland AS, Erfjord Stamfisk AS, Grieg Seafood Finnmark AS, Grieg Seafood Canada AS and Grieg Seafood Hjaltland UK Ltd, among others. As of December 31, 2013, its largest shareholder was Grieg Holdings AS (49.97%).
Solid Quarter: Grieg Seafood delivered a strong Q4, harvesting just under 7,400 tonnes with a farming EBIT of NOK 20.7 per kilo and operational EBIT of NOK 152.8 million.
Strategic Refocus: The company finalized its divestment of Canada and Finnmark, shifting focus solely to Rogaland and aiming for regional profitability over global growth.
Debt Reduction & Dividend: Proceeds from the asset sale were used to repay debt, and the Board plans to distribute NOK 4 billion to shareholders, with payment expected shortly after an extraordinary general assembly.
Cost Control: Management is targeting further cost reductions, with a goal of NOK 50 million in savings by 2026 and overhead costs below NOK 3 per kilo.
CapEx Discipline: Capital expenditure remains minimal, with no significant investments planned except maintenance and specific projects like a new smolt facility in Ardal.
Harvest & Guidance: Rogaland achieved record quarterly harvest volumes and targets 31,000 tonnes for 2026, with 6,600 tonnes guided for Q1.
Pricing & Sales: Achieved sales price was NOK 84.3 per kilo, significantly beating the index, supported by high harvest weights and strong contract/spot performance.
Negative Net Debt: The company ended Q4 with a net cash positive position of NOK 2.5 billion, marking the first time with negative net interest-bearing debt.
