• Operational EBIT for Norway¹ was at NOK 1,466 million for the second quarter 2024. Harvest volume was 44,100 tonnes and operational EBIT per kg was NOK 33.2.

• Operational EBIT the Group was NOK 1,393 million for the second quarter. Harvest volume was 44,800 tonnes and operational EBIT per kg was NOK 31.1.

• The Fish Farming segment in Norway showed improved biological performance, but harsh winter conditions and extreme weather earlier in the year continued to negatively impact the superior share and price achievement, particularly for Farming Northern Norway.

• Sales and Industry continued to demonstrate its efficient and flexible operational set-up. The contract share was 46 per cent, which combined with high spot prices resulted in negative contribution.

• Icelandic Salmon reported high cost due to continued biological challenges in the quarter and low harvest volume, affecting results.

• SalMar Aker Ocean successfully transferred smolt for a new production cycle at Ocean Farm 1 in the quarter, with planned harvest in 2025.

• Scottish Sea Farms reported a solid quarter with increased harvest volume, improved weights, and strong biological status in all regions.

“SalMar showed solid operational performance, improved biological results and delivered acceptable financial results in a period marked by the aftermath of a challenging winter season. Strong commitment from all segments has resulted in a positive development of key performance indicators.” said Frode Arntsen, CEO of SalMar ASA.

Sustainable growth

“In parallel we have taken several decisions aimed at delivering on our ambitions to deliver sustainable growth. We acquired additional production capacity in a recent government managed auction in Norway and we been granted 10,000 tons of MAB in Iceland” Arntsen said.

In June, SalMar was named by Time magazine as one of the world’s most sustainable companies, demonstrating its commitment to sustainability. And also in June, SalMar made both its RCF and Term Loan sustainability linked by connecting four ESG KPIs to its financing.

In August SalMar launches its updated green bond framework to finance sustainable initiative throughout the value chain. The updated green bond framework is available from our website.

“We are proud to receive such recognition and awards and note with appreciation that our efforts are also well received by the capital market. Our revolving credit facility and term loan are now linked to certain ESG performance indicators, and we have published updated green bond framework for which S&P Global Ratings has provided a second party opinion of alignment with internationally well respected methodology,” Arntsen said.