Leroy Seafood Group ASA
OSE:LSG

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Leroy Seafood Group ASA Logo
Leroy Seafood Group ASA
OSE:LSG
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Price: 47.86 NOK 0.55% Market Closed
Market Cap: 28.5B NOK

Leroy Seafood Group ASA
Investor Relations

Leroy Seafood Group ASA, firmly rooted in the rich maritime heritage of Norway, has evolved into a seafood powerhouse with operations extending from pristine fjords to bustling global markets. Established over a century ago, Leroy's journey began with a commitment to harnessing Norway's abundant aquatic resources. The company stands as one of the world's largest salmon producers, a testament to its prowess in farming, processing, and distributing seafood. Their operations are seamlessly integrated, ensuring quality control from ocean to table. By owning and managing numerous fish farms along the Norwegian coast, Leroy capitalizes on the nutrient-rich waters, producing millions of tons of high-quality salmon and trout annually. This vertical integration allows the group to be both efficient and agile, responding swiftly to market demands while maintaining sustainability.

Leroy generates its revenue through a finely tuned machine where each cog plays a critical role. Once harvested, the seafood moves through state-of-the-art processing facilities where it is transformed into a wide array of products, from fresh fillets to ready-to-eat meals. These products are then strategically distributed across Europe, Asia, and the Americas, tapping into a growing global appetite for healthy, sustainable seafood. The company leverages its extensive distribution network, partnerships, and understanding of local markets to optimize sales. Furthermore, sustainability is not just a buzzword for Leroy; it sits at the core of their operational ethos. By investing in research and development, they ensure innovations in breeding, feeding, and environmental management, thereby not only safeguarding profit margins but also fortifying their commitment to responsible marine stewardship. Through this meticulous operation, Leroy Seafood Group continues to thrive, solidifying its position as a leader in the global seafood industry.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 12, 2025
AI Summary
Q3 2025

Profitability: Third quarter saw low profitability, mainly due to significantly lower spot prices for salmon and trout, despite strong year-to-date development.

Volume Growth: Harvest volumes increased 15% year-on-year in farming, reflecting production improvements, though profitability on these volumes declined sharply.

Segment Highlights: VAP Sales and Distribution achieved record earnings and are on track with long-term EBIT targets, while Wild Catch suffered from low quotas but benefited from higher prices.

Cost Trends: Costs in farming rose quarter-on-quarter after four quarters of reductions, with challenging biological conditions including high temperatures and sea lice.

Guidance Maintained: Management kept 2025 harvest guidance at 195,000 tonnes for Norway, with total group guidance including Scottish Seafarm at around 217,000 tonnes for 2025 and 218,000 tonnes for 2026.

Financial Health: Working capital improved and net interest-bearing debt was reduced from NOK 8.5 billion to NOK 8.1 billion, supporting cash flow despite low earnings.

Wild Catch Quotas: Quotas for 2025 are down 32% year-on-year, impacting volumes, but price increases are offsetting some of this effect.

Key Financials
Harvest Volume (Farming)
15% higher YoY
Operational EBIT (Farming, per kilo)
NOK 2
Spot Price (Salmon and Trout, per kilo)
NOK 8 lower YoY
Price Realization (Farming, per kilo)
NOK 10 lower YoY
Cost (Farming, per kilo)
NOK 1 higher YoY
Net Interest-Bearing Debt
NOK 8.1 billion
Operational EBIT (Wild Catch)
NOK 15 million
EBIT (VAP Sales & Distribution, Margin)
close to 5%
Wild Catch Quota (2025, Cod)
down 32% YoY
Other Earnings Calls

Management

Mr. Henning Kolbjørn Beltestad
Group CEO
No Bio Available
Mr. Sjur S. Malm
Chief Financial Officer
No Bio Available
Aina Valland
Head of Communication & Public Affairs
No Bio Available
Ms. Siren Merete Gronhaug
Chief Human Resources Officer
No Bio Available
Mr. Ivar Wulff
Chief Operating Officer of Sales & Distribution
No Bio Available
Mr. Bjarne Reinert
Chief Operating Officer of Farming
No Bio Available
Mr. Hans Kristian-Bognø Ljøen
Head of Treasury
No Bio Available

Contacts

Address
HORDALAND
Bergen
Thormohlens gate 51 B
Contacts