SalMar – Strong biological performance and increased volume guidance
- Significant improvement in results compared to last year, driven by higher harvest volumes, improved fish quality, and a lower cost level in the value chain. At the same time, the first quarter delivered record-strong biological performance, providing a solid foundation for increased volumes and continued strong performance going forward.
- Operational EBIT for Norway was NOK 1,536 million in the first quarter of 2026. Harvest volume was 56,300 tonnes, with operational EBIT per kg of NOK 27.3. For the Group, operational EBIT was NOK 1,512 million in the first quarter of 2026. Harvest volume was 60,300 tonnes, with operational EBIT per kg of NOK 25.1.
- Record-strong biological performance in Norway, with positive cost developments in Central Norway, and volume guidance for Norway increased by 12,000 tonnes.
- Profitability in Sales & Industry was impacted by the upgrade of the InnovaMar harvesting and processing facility, which affected capacity utilisation and utilization of raw material during the period.
- Continued strong biological performance from Ocean Farm 1. The development licences at Arctic Offshore Farming have been converted into ordinary licences.
- Weak results from Icelandic Salmon and Scottish Sea Farms, driven by high costs in the value chain.
“The start of the year has been record-strong across a number of biological key indicators, and based on our experience so far, we are increasing our volume guidance by 12,000 tonnes for 2026. This positive development provides a solid foundation for continued strong performance going forward, with increased volumes, lower costs in the value chain, and high-quality fish,” says Frode Arntsen, CEO of SalMar ASA.
Strong start of 2026
The start of 2026 has been record-strong across a range of biological parameters (survival rate, growth, superior share, average weight, etc.), and SalMar would need to look back more than 10 years to find a similarly strong biological start to the year as seen so far in 2026. At the same time, SalMar has record-high biomass at sea, with a lower cost level both compared to last year and the previous quarter.
Based on experience to date, volume guidance for 2026 is increased by 12,000 tonnes to 282,000 tonnes in Norway, while guidance for other segments remains unchanged. Including the share from Scottish Sea Farms, total Group harvest volume is expected to be 330,000 tonnes, representing 10% growth compared to 2025.
The full report and presentation for the first quarter are attached.
SalMar's CEO Frode Arntsen and CFO Ulrik Steinvik will present the company's results today at 08:00 at Hotel Continental in Oslo. The presentation will also be webcast on www.salmar.no.
For more information, please contact:
Frode Arntsen, CEO
Tel: +47 482 06 665
E-mail: frode.arntsen@salmar.no
Ulrik Steinvik, CFO
Tel: +47 900 84 538
E-mail: ulrik.steinvik@salmar.no
Håkon Husby, Head of IR
Tel: +47 936 30 449
E-mail: hakon.husby@salmar.no
About SalMar
SalMar is one of the world's largest and most efficient producers of salmon. The Group has farming operations in Central Norway, Northern Norway, Offshore and Iceland, as well as substantial harvesting and secondary processing operations. In addition, SalMar owns 50% of Scottish Sea Farms Ltd.
See www.salmar.no for more information about the company.
This information is subject to the disclosure requirements stipulated in section 5-12 of the Norwegian Securities Trading Act.
Attachments
