SalMar Earnings and Expansion
SalMar Reports Record Q2 Volumes and Raises Full-Year Harvest Guidance to 350,000 Tonnes
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Key Points
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In Norway, SalMar harvested 71,500 tonnes and posted an operational EBIT of about NOK 1.23 billion, with price realization around NOK 17.2 per kg; the company noted that heavy harvesting in June helped drive volumes but weighed on prices achieved.
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SalMar agreed in July to acquire Heimstø's 70% stake in Måsøval for about NOK 3.4 billion, at NOK 39.50 per share, with regulatory approval still pending.
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The 2026 harvest guidance was raised to 350,000 tonnes and explicitly includes SalMar's share of Scottish Sea Farms, signaling expanded volume through the group's broader portfolio.
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Tradingview notes that the record Q2 harvest and stronger EBIT were supported by the completed Ocean Farm 1 project, contributing to improved profitability in Sales & Industry.
SalMar ASA, Norway's largest salmon farmer, posted record second-quarter volumes and raised its full-year harvest guidance by 20,000 tonnes to 350,000 tonnes MarketScreener. The company harvested 81,800 tonnes in Q2, driving sales to 7.612 billion NOK and net income to 367 million NOK, a sharp turnaround from weak results a year earlier MarketScreener.
The boost came from improved fish quality, lower costs, and the completed Ocean Farm 1 project Fish Farmer Magazine. SalMar also agreed to acquire a 70% stake in Måsøval for 3.4 billion NOK, pending regulatory approval, signaling continued expansion in its core Norwegian operations Salmon Business.
Record Harvest Lifts Profitability Across Norway
SalMar's Norwegian operations harvested 71,500 tonnes in Q2, with operational EBIT reaching 1.23 billion NOK MarketScreener. Heavy harvesting in June boosted volumes but put pressure on prices, which averaged 17.2 NOK per kilogram. The company's six-month results swung to net income of 936 million NOK, a major improvement from the prior year MarketScreener.
Strong biological performance and lower operational costs drove the gains Salmon Business. First-half sales reached 14.113 billion NOK, with basic earnings per share climbing to 2.7 NOK. The uptick reflects the company's ability to move larger volumes while keeping costs in check, despite seasonal price headwinds.
Guidance Hike Points to Sustained Momentum
SalMar raised its 2026 total harvest guidance to 350,000 tonnes, a 16% increase from 2025 Salmon Business. The new target explicitly includes the company's share of Scottish Sea Farms, broadening the group's production base. Management flagged expectations for higher harvest volumes and lower costs in Q3, signaling confidence in the outlook Salmon Business.
The guidance lift was underpinned by the Ocean Farm 1 project, which came online and improved profitability Fish Farmer Magazine. Analysts remain cautious, however. Despite record harvests, Fish Farmer Magazine noted that some analysts still expect disappointment as market demand for farmed salmon faces persistent headwinds.
Major Acquisition Expands Norway Footprint
SalMar agreed in July to buy Heimstø's 70% stake in Måsøval for 3.4 billion NOK at 39.50 NOK per share Salmon Business. The deal is pending regulatory approval and marks the company's latest step to expand capacity in Norway, its core market. The acquisition would add significant production capacity to SalMar's portfolio.
The move underscores SalMar's confidence in its growth trajectory after two years of weak results MarketScreener. Combined with strong Q2 performance and improved cost discipline, the acquisition signals the company is ready to pursue larger-scale expansion and lock in market share in an increasingly competitive sector MarketScreener.
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