SalMar posts satisfactory results in the fourth quarter 2020 and recommends a dividend of NOK 20 per share - Seite 2

SalMar harvested a total of 43,600 tonnes in the fourth quarter 2020, compared with 40,300 tonnes in the same period the year before. Operational EBIT per kg came to NOK 9.50 in the fourth quarter, down from NOK 16.31 per kg in the fourth quarter 2019. The decrease in Operational EBIT per kg is attributable largely to a 25 per cent lower average salmon price in the fourth quarter 2020 compared with the same period the year before. EBIT per kg for 2020 as a whole came to NOK 18.62, down just NOK 1.42 per kg from 2019.

Biological and operational performance remains good

Fish Farming Central Norway once again posted a solid result, and reaped the rewards of sound operations and a good biological performance. The autumn-2019 generation accounted for the entire volume harvested during the period. In the first quarter 2021, the segment will finish harvesting the autumn-2019 generation and start harvesting the spring-2020 generation. The biological performance of both generations has recently proved to be good. In the year’s first quarter, costs are expected to remain at similar levels, while the volume harvested will be slightly lower than in the quarter before. SalMar expects Fish Farming Central Norway to harvest 107,000 tonnes of salmon in 2021.

Fish Farming Northern Norway continues its positive trend and posted satisfactory results in the fourth quarter 2020. 80 per cent of the volume harvested derived from fish transferred to sea farms in the spring of 2019, a generation that has had strong biological performance and contributed to lower costs at harvest. SalMar started harvesting the autumn-2019 generation in the fourth quarter 2020, and will continue doing so in the first quarter 2021. This generation has also demonstrated a good biological performance. In the first quarter 2021, the segment expects slightly higher costs and a substantially lower harvested volume compared with the quarter before.

For the Sales and Processing segment, the fourth quarter was characterised by a high degree of uncertainty in the market as a result of the Covid-19 pandemic. Nevertheless, the segment posted a satisfactory Operational EBIT of NOK 73 million in the period. For 2020 as a whole, the segment posted a strong performance with an Operational EBIT of NOK 282 million, up from NOK 124 million the year before.

2020 proved to be a difficult year for Icelandic Salmon, which experienced substantial challenges at the start of the year. The company started harvesting the 2019-generation in the fourth quarter 2020. These fish have a substantially lower cost at harvest. Nevertheless, low price achievement led to an operating loss in the period. The company is drawing on the lessons learned in the year now past, and is optimistic with respect to 2021, a year in which the biological status of the fish held at its sea farms is significantly better.