Norway · Delayed Price · Currency is NOK Grieg Seafood ASA Earnings Call Transcripts
Fiscal Year 2026
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First half 2026 saw weak financial results due to biological and market challenges, but a completed transition and divestments have strengthened the balance sheet. Cost initiatives, improved liquidity, and a focus on post-smolt and value-added processing position the company for recovery and growth.
Fiscal Year 2025
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Q4 saw strong operational and financial results, driven by record harvests, high sales prices, and the completion of discontinued operations. Proceeds enabled debt repayment and a proposed NOK 4 billion shareholder distribution, with Rogaland as the sole focus going forward.
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Regulatory clearance in the US and Norway enables a strategic shift to core Norwegian operations, with profitability prioritized over growth. Q3 saw high costs and negative EBIT, but Rogaland remained profitable, and cost normalization is expected in Q4. Dividend distribution and liquidity remain key focuses.
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Permanent CEO appointed as the company completes a major divestment, refocusing on Rogaland and shifting strategy from global growth to regional profitability. Q2 saw strong operational EBIT, robust biological results, and a commitment to shareholder dividends post-transaction.
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Q1 saw improved EBIT and cost reductions, driven by strong Norwegian operations and a shift from growth to profitability. Liquidity was bolstered by a NOK 2 billion hybrid bond, while 2025 is set as a transition year focused on cost control and capital discipline.
Fiscal Year 2022
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Harvest is targeted to rise from 75,000 tonnes in 2021 to 120,000–135,000 tonnes by 2026, led by Norway, Canada and Newfoundland growth. The plan pairs NOK 3bn of 2023–2026 investment with value-chain repositioning and sustainability targets.
Fiscal Year 2020
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The acquisition adds Newfoundland capacity to support the 2025 harvest ambition and strengthen North American supply. First harvest was targeted for late 2022 or early 2023, with 15,000 tonnes annual capacity planned by 2025.