2025 Grieg Seafood ASA Earnings Call Transcript

Nov 13, 2025 / 11:30 AM GMT

Release Date Price: $6.32

Transcript

Key Points

Positve

Grieg Seafood ASA (FRA:GR8) received full regulatory clearance in both the US and Norway, with progress in Canada expected to close in Q4.
The company has made significant progress in defining a new operating model centered in Rogela, focusing on operational excellence.
Cost reductions have been implemented, including a 55% reduction in staff across sales and shared service functions, aligning the team with the new scale.
The company has a strong contract position, which has helped offset lower sales revenues due to lower prices and weights.
Grieg Seafood ASA (FRA:GR8) is actively seeking partners for external fish, with a new facility expected to ramp up production to 10,000 tons capacity next year.

Negative

Harvest volume for the quarter was almost 7,000 tons, impacted by lower market prices and higher costs.
Operational EBIT for farming activities was low at 3.2 NOK per kilo, with the group close to zero.
High water temperatures and sea lice pressure have led to increased mortality and lower growth at sea.
Farming costs were high at 70.4 NOK per kilo due to harvesting small fish and biomass write-downs.
The company faces liquidity and debt pressures from discontinued operations, impacting financial stability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GSFG.OL - Grieg Seafood ASA
2025 Grieg Seafood ASA Earnings Call
Nov 13, 2025 / 11:30AM GMT

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Presentation
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Okay.

Good morning and welcome to Grieg Seafood's 3rd quarter presentation. My name is Nina Williamson-Gregg, and I am the CEO of Gregg Seafood. Together with me for presenting today is also our CFO Magnus Johannesen.

Our agenda today is quite standard. I will start by presenting operations and some some details, and Magnus will follow an update on financial review and capital allocation. Summing up, I will restate a little bit what we said last time on our strategy going forward.

So starting with the highlights of the quarter, I am pleased to report that we have received full regulatory clearance for both the US and Norway. That was important for us. The progress in process in Canada is progressing, and we remain

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