Highlights in the first quarter:
- Good results due to continued solid operational performance and increasing salmon prices
- Operational EBIT totalled
NOK 627 million andNOK 17.02 per kg
- Fish Farming Central Norway and Fish Farming Northern Norway with stable development and good result
- Sales and Industry delivers a strong result, driven by a strong operational performance, good capacity utilisation and positive contributions from fixed-price contracts
- Icelandic Salmon with positive results and lower costs compared to previous quarters
SalMar still expects to harvest 163,000 tonnes inNorway and 14,000 tonnes inIceland in 2021
- At the start of 2021, the company secured
NOK 7.5 billion in green financing, which will be used to finance continued sustainable growth
Rising salmon prices and continued strong operational performance gave good first quarter results
“Towards the end of the first quarter, the price of salmon rose steadily compared with the levels seen in the autumn of 2020 and at the start of this year. Together with a strong operational performance from our employers along the entire value chain, this enabled
The segments Fish Farming Central Norway and Fish Farming Northern Norway continue the stable positive trend, and posted an Operational EBIT of
The Sales and Industry segment delivers a strong result, driven by good capacity utilisation, a strong operational performance and positive contributions from fixed-price contracts. The segment’s Operational EBIT came to
Icelandic Salmon posted an Operational EBIT of
Green financing for further sustainable growth
So far this year,
In April, the company was awarded a long-term initial corporate credit rating of A- with a stable outlook by Nordic Credit Rating, and a Medium Green classification from Cicero, the world’s leading provider of second opinions on green financing.
“The new credit facilities strengthen our financial capacity and flexibility, and give us the chance to exploit strategic opportunities for further sustainable growth,” says CFO & COO Trine Sæther Romuld.
Optimistic outlook
After a year of pandemic and a market characterised by global uncertainty, the roll-out of mass vaccination programmes in large parts of the world has helped to make the outlook brighter for the salmon industry. The price of salmon has now returned to the pre-pandemic level.
“We have always had unwavering confidence in the salmon farming industry and continue to invest in new smolt facilities and processing plants, as well as costal and offshore farming.
The complete report and presentation for the first quarter 2021 is attached.
SalMar’s CEO
For further information, please contact:
CEO
Tel: +47 911 47 834
Email: gustav.witzoe@salmar.no
CFO & COO Trine Sæther Romuld
Tel: + 47 991 63 632
Email: trine.romuld@salmar.no
About
See www.salmar.no (http://www.salmar.no). for more information about the company.
This information is subject to the disclosure requirements stipulated in section 5-12 of the Norwegian Securities Trading Act.
Attachments
SalMar Q1 2021 presentationSalMar Q1 2021 report
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