Q1 2026 SalMar ASA Earnings Call(recording) Transcript
Key Points
- SalMar ASA (SALRF) reported a record strong biological performance in Norway, contributing to excellent financial results.
- The company increased its 2026 volume guidance in Norway by 12,000 tons due to strong biological performance, expecting a total harvest volume of 330,000 tons, up 10% from 2025.
- Operational EBIT in Central Norway was NOK1,069 million, with a significant increase in harvest volume and strong biological performance.
- SalMar Ocean delivered strong biological performances with low mortality and good growth, contributing positively to the company's results.
- The company maintains a positive market outlook for 2026, with strong demand for its products and strategic customer engagements extending into 2027.
- Profitability in sales and industry was affected by the InnovaMar upgrade, impacting capacity utilization and cost levels.
- Results from Icelandic Salmon and Scottish Sea Farms were weak, driven by high costs across the value chain.
- The Sales and Industry segment delivered an operational EBIT of minus NOK131 million due to low volume and the InnovaMar facility upgrade.
- The Icelandic operations faced biological challenges, leading to higher costs and lower price achievement.
- Scottish Sea Farms reported elevated costs due to biological challenges from the previous year, affecting overall profitability.
Good morning, everyone, and welcome to the presentation of SalMar's results for the first quarter of 2026. My name is Frode Arntsen. I am the CEO of SalMar. And with me today, I have our CFO, Ulrik Steinvik. We have been looking forward to presenting these numbers today because our start to 2026 has been very strong.
At SalMar, it is always about producing salmon on the salmon's terms. That's why it is especially pleasing to see the record strong biological performance we have achieved at sea so far this year. These results do not come by themselves. They are the result of continuous improvement throughout the value chain to ensure the best possible conditions for our salmon. When we have strong biology, we also deliver good financial results, and you will see that clearly in today's presentation.
Above all, this is made possible by the hard work of all our employees. Every day, they go to work to make SalMar a little bit better than it was yesterday, and you care about the salmon. At SalMar, we are one team performing together. Thank
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