Måsøval AS - Q3 25 report

The Måsøval Group harvested 6.020 GWT in the third quarter, generating revenues of MNOK 580. For the fourth quarter of 2024, the Group expects to harvest 7.800 GWT.

Despite challenges in Q3 from elevated sea temperatures and high sea lice pressure, Måsøval successfully built biomass and exits the quarter with more biomass than it entered with, providing a stronger starting point heading into Q4 compared to the same period last year.

Strategic operational decisions have been decisive. Following a high harvest volume in Q2, the Group deliberately reduced harvest activity in Q3 to carry more biomass into the fourth quarter, when salmon prices are expected to rise. At the same time, mortality per treatment has been lowered, and investments in expanded treatment capacity have strengthened Måsøval’s operational readiness.

The market outlook is positive. The industry is emerging from a period of strong supply growth that has weighed on prices, with only limited growth expected in Q4. With a high share of spot sales, Måsøval is well positioned to capture value from the anticipated increase in salmon prices.

"It is highly satisfying to confirm that we have maintained control and increased biomass during a critical phase of the year. Our investments in expanded treatment capacity have strengthened our resilience and positioned us for improved profitability going forward," says Helge Kvalvik, CEO of Måsøval.

The share of superior quality increased from 78% in Q2 2025 to 87%, which is an improvement compared to the same quarter last year (84%). The Group guides an annual harvest of 27.600 GWT in 2025, which is up from 25.000 GWT harvested in 2024.

Måsøval's CEO Helge Kvalvik and CFO Anders Hagestande will present the results in Norwegian at 08:00 in Auditorium H2, Haakon VIIs gate 2, Vika. The presentation can also be followed via this link:
https://channel.royalcast.com/landingpage/hegnarmedia/20251118_3/

The presentation and report are attached in this notification.

Forward looking statements:
This release may be deemed to include forward-looking statements, including statements relating to Måsøval's goals and strategies, salmon prices, the ability to increase or vary harvest volume, production capacity, trends in the seafood industry, restructuring initiatives, business prospects and positioning with respect to market, demographic and pricing trends, strategic initiatives, and the effects of any extraordinary events and other matters (including developments in laws, regulations and governmental policies regulating the industry, as well as changes in accounting policies, standards and interpretations) on Måsøval's business and results. Forward-looking statements are Måsøval's current estimates or expectations of future events or future results. Actual results could differ materially from those indicated by these statements because their realization is subject to many risks and uncertainties. All forward-looking statements included in this release are based on information available at the time of the release, and Måsøval assumes no obligation to update any forward-looking statement.