Salmon Evolution ASA
OSE:SALME
Salmon Evolution ASA
Salmon Evolution ASA is a Norway-based salmon farming company with its production facility under construction on Indre Haroy. The company is headquartered in Molde, More Og Romsdal. The company went IPO on 2020-09-18. The firm emphasizes rational operation, fish welfare and minimal impact on the environment. With use of small amounts of fresh seawater the Company creates optimum production and environmental conditions, improved growth and a shorter production time.
Salmon Evolution ASA is a Norway-based salmon farming company with its production facility under construction on Indre Haroy. The company is headquartered in Molde, More Og Romsdal. The company went IPO on 2020-09-18. The firm emphasizes rational operation, fish welfare and minimal impact on the environment. With use of small amounts of fresh seawater the Company creates optimum production and environmental conditions, improved growth and a shorter production time.
Inflection Point: Salmon Evolution is transitioning from heavy investment and construction to a growth phase, with Phase 2 at Indre Haroy about to start production and significantly increase capacity.
Q4 Results: Farming operations were effectively breakeven on EBITDA in Q4 despite ramp-up costs and weak salmon prices, demonstrating operating leverage.
Harvest Volumes: Q4 harvest was 1,200 tonnes, with a strategic focus on building biomass for higher production in 2026.
Cost Structure: Farming EBITDA cost was NOK 73 per kilo in Q4, expected to decrease as volumes rise with Phase 2.
Growth Outlook: The company targets a major step-up in 2026, planning to stock 2.8 million smolt (up 65%) and reach 18,000 tonnes capacity by year-end 2027.
Salmon Market: Management expects salmon prices to recover as supply growth slows in 2026, positioning the company to benefit from improved market conditions.
Capital Discipline: Updated partnership model in Korea frees up capital and management focus for core growth at Indre Haroy.
