September 7, 2023

SalMar to raise annual output by a third

SalMar is planning to increase its annual output by at least a third.

The world's second largest producer of Atlantic Salmon and part owner of Scottish Sea Farms was due to outline its ambitions at a Capital Markets Day event in Tromsø, Norway, on September 6.

SalMar chief executive officer Frode Arntsen was expected to announce that sustainable organic growth is now top of the group's agenda. He would explain that, following several successful transactions and the work to integrate NTS, Norway Royal Salmon and SalmoNor, SalMar had established itself as a leading industrial powerhouse in the international aquaculture industry.

SalMar would also present an overall organic growth potential from all regions which implies a future harvest volume of 362,000 tonnes, an increase from the expected harvest volume of 273,000 tonnes in 2023 or a 33% increase, without this requiring major capacity-increasing investments.

According to Arntsen, SalMar "continues to invest with clear ambitions in both coastal farming and offshore aquaculture," and "aims to maintain its leading role by growing and developing the industry nationally and internationally."

"Our ambition is further growth in all our regions, but where, how quickly and how much we want to invest depends on where we find sustainable framework conditions," Arntsen added. " In Norway, the ground rent tax that has been introduced is a particular concern for the further growth potential beyond the organic growth potential we have gained through the NTS transaction last autumn."

- Fish Farmer