SalMar – Satisfactory results and good biological development towards the end of the quarter

Core Viewpoint - SalMar ASA has demonstrated strong biological development and financial results in the fourth quarter of 2024, with a positive outlook for 2025 due to improved biological conditions and strategic investments in sustainable salmon production [1][6]. Group 1: Financial Performance - SalMar reported an operational EBIT of NOK 1,485 million for Norway in Q4 2024, with a harvest volume of 67,300 tonnes and an operational EBIT per kg of NOK 22.1 [6]. - The group's total operational EBIT for Q4 2024 was NOK 1,489 million, with a total harvest volume of 73,800 tonnes and an operational EBIT per kg of NOK 20.2 [6]. - The board proposed a dividend of NOK 22.00 per share for the financial year 2024, reflecting strong financial results and a solid financial position [6]. Group 2: Production and Growth Outlook - SalMar expects to invest NOK 1.9 billion in 2025, primarily focused on fish welfare initiatives [4]. - The company maintains a volume guidance of 254,000 tonnes in Norway, 9,000 tonnes from SalMar Aker Ocean, 15,000 tonnes in Iceland, and 32,000 tonnes in Scottish Sea Farms, totaling 294,000 tonnes for the group, representing a 17% increase in harvest volume compared to 2024 [5]. - SalMar is experiencing strong demand for its products while anticipating low global supply growth in 2025 [5]. Group 3: Strategic Developments - SalMar completed the purchase of a controlling stake in AS Knutshaugfisk, which has 3,466 tonnes MTB in licenses and four farming locations in Mid-Norway [1]. - The company holds a 37.5% stake in Wilsgård AS and has agreed to consolidate with Wilsgård Sea Service AS, which owns 75% of Wilsgård AS, enhancing its presence in Northern Norway [2][3]. - SalMar's farming segments in Norway showed good development throughout Q4 2024, contributing positively to the overall results [6].