Jellyfish and harsh winter reduce profits of salmon giant SalMar

The operating profit of the main Norwegian salmon producer SalMar in the first quarter amounted to 1,512 million Norwegian crowns (13 billion rubles). A year ago, the profit was 1,884 million Norwegian crowns (16 billion rubles), the online publication Fish Farmer Magazine reported on May 14.

The company’s revenue decreased from NOK 6,792 million (RUB 57.5 million) in the first quarter of 2023 to NOK 6,555 million (RUB 55.5 million) in the first quarter of this year. In quantitative terms, production increased by more than 4 thousand tons to 52.9 thousand tons.

In the report, the company says: “The Norwegian agricultural sector has been severely affected by jellyfish outbreaks and extreme weather conditions this winter. “The low proportion of premium fish and the low average weight in the first quarter, especially in northern Norway, affected both cost levels and prices.”.

SalMar CEO Frode Arntsen said: “The first quarter was difficult in many ways. We are reminded once again that we must work together with the forces of nature. We see significant untapped growth potential in the industry and want to continue to lead the development. “Food never goes out of style: the world needs more.”.

Source: Rossa Primavera