GSF Grieg Seafood ASA

Grieg Seafood ASA: Q1 2024 trading update

Grieg Seafood ASA: Q1 2024 trading update

Grieg Seafoods harvest volume for the first quarter of 2024 was approximately 21 000 tonnes GWT.

Harvest volume (tonnes GWT) by region for the quarter:

Rogaland: 9 400

Finnmark: 5 700

British Columbia: 700

Newfoundland: 5 200

The complete Q1 2024 report will be released on Thursday 16 May 2024 at 06:00 CEST.

For enquiries, please contact:

Andreas Kvame, CEO

Cell phone: +47 907 71 441

Atle Harald Sandtorv, CFO

Cell phone +47 908 45 252



About Grieg Seafood

Grieg Seafood ASA is one of the world's leading salmon farmers. Our farms are in Rogaland and Finnmark in Norway, as well as in British Columbia and Newfoundland in Canada. Our headquarter is in Bergen, Norway. Grieg Seafood ASA was listed at the Oslo Stock Exchange in June 2007.

Sustainable farming practices are the foundation of Grieg Seafood's operations. The lowest possible environmental impact and the best possible fish welfare is both an ethical responsibility and drive economic profitability. To learn more, please visit



The information included in this announcement may be defined as inside information pursuant to article 7 of the Market Abuse Regulation and is publicly disclosed in accordance with article 17 of the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.



EN
08/04/2024

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Reports on Grieg Seafood ASA

Alexander Aukner
  • Alexander Aukner

Grieg Seafood (Buy, TP: NOK80.00) - Mixed Q1, weak outlook

Q1 operating EBIT was NOK292m, 5% below consensus and 13% below our forecast, with strong results in Rogaland offset by misses in Finnmark and Newfoundland on high costs and low realised prices. The company maintained its 2024 volume guidance of 81kt, but lowered its Q2 harvest expectation, suggesting a more back-end loaded harvest. Combined with challenges in Finnmark and high costs in Newfoundland, we see a potential 30% drop in 2024e consensus operating EBIT and expect the stock down 5–10% to...

ABGSC Seafood Research ... (+3)
  • ABGSC Seafood Research
  • Martin Kaland
  • Simon Brun
 PRESS RELEASE

Grieg Seafood ASA: Q1 2024 results

Grieg Seafood ASA: Q1 2024 results Highlights Harvest volume of 21,075 tonnes (15,357 tonnes) Operational EBIT in the quarter of NOK 292 million (NOK 385 million), with operational EBIT/kg of NOK 13.8 (25.1)Rogaland delivered second best quarterly results everResults in Finnmark significantly impacted by historical biological challenges and downgradesSuccessful completion of harvest of the first generation in Newfoundland, with high share of superior qualityConstruction of post-smolt facilities in Rogaland, Finnmark and Newfoundland on trackProcess to identify long-term partners to ta...

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