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Lerøy Seafood Group ASA: Trading update Q3 2025
Globenewswire· 2025-10-06 04:30
HARVEST VOLUMES OF SALMON AND TROUT Total harvest volume of salmon and trout for Q3 2025 was 59,100 GWT, compared to 51,400 GWT in Q3 2024. These figures exclude harvest volumes from Scottish Seafarms. Harvest volumes by region/company for Q3 2025 (Q3 2024), measured in 1,000 GWT: Lerøy Aurora: 20.1 (17.6) Lerøy Midt: 21.4 (16.9) Lerøy Sjøtroll: 17.6 of which 10.4 was trout (16.8 of which 6.8 was trout) CATCH VOLUMES OF WILDFISH Total wild catch volumes in Lerøy Havfisk, measured in 1,000 tonnes: Q3 2025: 1 ...
Iceland Seafood International hf: Strong first-half performance, with Normalised Profit Before Tax doubling year-on-year
Globenewswire· 2025-08-27 16:15
Core Viewpoint - The company reported strong financial performance in the first half of 2025, with normalized profit before tax doubling year-on-year and significant sales growth across various divisions [1][8]. Financial Performance - Group sales for Q2 2025 reached €114.6 million, a 17% increase compared to Q2 2024 [2]. - Normalized profit before tax for 1H 2025 was €2.3 million, up from €1.1 million in 1H 2024 [8]. - Total sales for 1H 2025 amounted to €233.8 million, reflecting a 10% increase from 1H 2024 [8]. - EBITDA for 1H 2025 was €9.2 million, up from €5 million in 1H 2024 [8]. - Net profit improved to €1.1 million in 1H 2025, compared to a loss of €0.7 million in 1H 2024 [8]. Division Performance - The VA S-Europe division reported sales of €52.9 million in Q2 2025, a 3% increase from Q2 2024, with strong sales of premium products like cod [3]. - The VA N-Europe division achieved sales of €14.3 million in Q2 2025, a 5% rise from the same quarter last year, with pre-tax profit improving to €0.4 million from a loss of €0.1 million [4]. - The S&D division maintained strong sales momentum, particularly from frozen-at-sea products driven by high cod demand [5]. Market Outlook - The normalized profit before tax outlook for 2025 remains between €7.5 million and €9.5 million, with expectations of stable salmon prices and high cod prices [6][9]. - The CEO noted that strong demand for cod and record-high prices were driven by the U.S. ban on Russian fish and quota reductions in key fishing areas [7]. Strategic Initiatives - The company is focused on enhancing the performance of existing business units and optimizing its capital structure [11]. - An important step was taken to strengthen operations in Argentina by signing an offer letter to acquire two vessels, aiming to leverage existing expertise in the region [11]. - The company has begun selling and marketing Icelandic salmon, with plans for expansion as salmon farming grows in Iceland [11].
Lerøy Seafood Group ASA: Solid operations across all segments, strong earnings in VAP S&D and Wild Catch
Globenewswire· 2025-08-20 04:30
Core Insights - Lerøy Seafood Group ASA (LSG) reported solid operational results across all segments in Q2 2025, achieving an operational EBIT of NOK 680 million, demonstrating the robustness of its fully integrated value chain in the seafood industry [1][8]. Farming Segment - The Farming segment recorded an operational EBIT of NOK 256 million in Q2 2025, with strong biological performance reflected in high survival rates, superior quality share, and increased average harvest weight, while costs per kg are declining [2][3]. - Despite strong biological performance, low prices for salmon and trout due to increased supply growth impacted results, although contracts provided some earnings stability [4][3]. VAP S&D Segment - The VAP S&D segment achieved an operational EBIT of NOK 351 million in Q2 2025, marking the tenth consecutive quarter of growth in 12-month rolling operational EBIT [5]. - The segment's positive development is driven by improved capacity utilization and strengthened relationships with key customers, moving closer to the target of NOK 1,250 million in operational EBIT for 2025 [6]. Wild Catch Segment - The Wild Catch segment delivered an operational result of NOK 148 million in Q2 2025, with historically high prices for cod, although there are prospects for further reductions in cod quotas in 2026, posing challenges for whitefish factories [7]. - The segment's performance is expected to face challenges ahead due to reliance on volumes for profitability [7]. Strategic Outlook - The company is optimistic about future development, entering a new strategy period with new targets to be set, while maintaining a strong position with strategic customers amid strong global demand for seafood [8].