SalMar ASA
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SalMar ASA
SalMar ASA, a key player in the global aquaculture realm, began its journey in 1991, on the rugged coasts of Norway. Founded by Gustav Witzøe, the company has forged its reputation by pioneering sustainable fish farming practices. In a world of increasing demand for protein, SalMar specializes in the farming, processing, and selling of farmed salmon. This simple yet demanding business model starts in the fjords of Norway, where SalMar utilizes modern biotechnological advances and cutting-edge marine engineering to nurture Atlantic salmon in optimal, controlled sea environments.
The company's operational strategy revolves around vertically integrated operations. From its hatcheries and sea farms to its state-of-the-art harvesting and processing facilities, SalMar ensures the highest quality standards at every step. By maintaining control over the entire production chain, SalMar not only upholds sustainable practices but also capitalizes on efficiencies and cost synergies. This end-to-end approach allows SalMar to generate robust revenue streams, appealing to both domestic and international markets hungry for premium seafood. SalMar's adeptness at aligning economic profitability with environmental stewardship has fortified its position as a leading harvester of the ocean's bounty, ensuring the company remains buoyant amidst the tides of global demand shifts.
SalMar ASA, a key player in the global aquaculture realm, began its journey in 1991, on the rugged coasts of Norway. Founded by Gustav Witzøe, the company has forged its reputation by pioneering sustainable fish farming practices. In a world of increasing demand for protein, SalMar specializes in the farming, processing, and selling of farmed salmon. This simple yet demanding business model starts in the fjords of Norway, where SalMar utilizes modern biotechnological advances and cutting-edge marine engineering to nurture Atlantic salmon in optimal, controlled sea environments.
The company's operational strategy revolves around vertically integrated operations. From its hatcheries and sea farms to its state-of-the-art harvesting and processing facilities, SalMar ensures the highest quality standards at every step. By maintaining control over the entire production chain, SalMar not only upholds sustainable practices but also capitalizes on efficiencies and cost synergies. This end-to-end approach allows SalMar to generate robust revenue streams, appealing to both domestic and international markets hungry for premium seafood. SalMar's adeptness at aligning economic profitability with environmental stewardship has fortified its position as a leading harvester of the ocean's bounty, ensuring the company remains buoyant amidst the tides of global demand shifts.
Record Harvest: SalMar achieved record high harvest volumes in Q3 2025, with 93,200 tonnes harvested including Icelandic Salmon and SalMar Ocean.
Profitability Despite Lower Prices: Operational EBIT improved to NOK 711 million, up NOK 187 million from Q2, despite lower salmon prices.
Cost Control: Cost per kilo in Norway declined, especially in Northern Norway, driven by strong biological performance and operational efficiency.
Unchanged and Raised Guidance: 2025 volume guidance remains unchanged for Norway and Iceland but is raised for Scotland; 2026 group harvest volume guidance increased by 20,000 tonnes to 319,000 tonnes.
Wilsgård Merger: The merger with Wilsgård was completed in August, positively impacting assets and financial ratios.
Debt and Liquidity: Net interest-bearing debt rose to NOK 23.3 billion due to dividend payments and investments, but liquidity remains strong at NOK 9.3 billion.
Future Growth Focus: The company is investing in new production technology and expects further cost reductions and volume growth into 2026.