Solid margins in Q2

We have had an exciting second quarter in 2024, and we are proud to share some good news! With an operational EBIT of 298 million kroner in Q2 – up from 211 million kroner for the corresponding quarter last year – we are truly on the right track.

Despite salmon prices taking us on a roller coaster ride throughout the quarter, we have still managed to achieve prices that were 8 kroner higher per kilogram than last year. This demonstrates how resilient and adaptable we at Måsøval are, even in a challenging market.

Our grow-out segment has delivered fantastic results, with lower costs and higher prices as key factors. We have reduced our costs to 51 kroner per kilogram gutted weight, a significant improvement from 63 kroner per kilogram in the same quarter last year.

Thanks to the MÃ¥søval team’s efforts, our operational EBIT per kilogram has increased to 44.6 kroner, a strong increase from 27.8 kroner for the corresponding quarter last year.

“I am incredibly proud of the strong margin we have achieved, especially in the West region. This quarter truly shows what we can accomplish when we work together as a team, with dedicated employees and good facilities,” says our Chief Executive Officer, Helge Kvalvik.

Exciting future prospects with new processing plant

Looking ahead, we are particularly excited about the startup of our new slaughterhouse on Hitra, which will be operational in September. We believe this will provide us with even greater flexibility, stability and new opportunities.

“I am convinced that we will achieve an even closer integration between the sales and processing segments, which will benefit the entire value chain,” says Kvalvik.

We expect to harvest between 26,500 and 27,500 tonnes in 2024, an increase from 24,500 tonnes in 2023, and we look forward to continuing our journey towards even more sustainable growth!

The complete quarterly report for Q2 2024 can be found here.

Main image: Krzysztof Zboralski

Thumbnail: Photographer Wittrup and Spillfree