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

If it's too good to be true, it usually is

Salmon prices higher on another blow to '24e supply, but farmers struggling to reap the benefits due to weak biology. Valuation not demanding, but more mixed triggers short term.

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

Catching its breath - down to HOLD

We estimate Q1 EBIT of NOK 1,650m (-4% vs. FactSet cons). '24e EBIT -7% as weak biology offsets higher spot prices. Limited upside after share price rally; down to HOLD.

 PRESS RELEASE

SalMar – Integrated annual report 2023

SalMar – Integrated annual report 2023 With reference to the stock exchange notice regarding board approval of final 2023 year-end financial statement on Friday 12 April 2024. Please find attached the 2023 integrated Annual report, including sustainability reporting, for SalMar ASA. The company publishes its annual financial statements also in European Single Electronic Format (ESEF), available as an attachment to this release. On SalMar's website, the renumeration report, TCFD report, GRI index and green bond report for 2023 are also published. For more information, please contact:Håkon...

 PRESS RELEASE

SalMar - Key information relating to the cash dividend to be paid by S...

SalMar - Key information relating to the cash dividend to be paid by SalMar ASA Dividend amount: 35.0 per shareDeclared currency: NOK Last day including right: 06.06.2024Ex-date: 07.06.2024Record date: 10.06.2024Payment date: On or about 20.06.2024Date of approval: 06.06.2024 For more information, please contact:Håkon Husby, Head of Investor RelationsTel: +47 936 30 449 Email: This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

 PRESS RELEASE

SalMar - Final year-end financial statements for 2023 approved by the ...

SalMar - Final year-end financial statements for 2023 approved by the board of directors 12 April 2024, the board of directors of SalMar ASA has reviewed and approved the final year-end financial statements for 2023. Final accounts and proposed dividend of NOK 35 per share are not altered from preliminary figures published on 15 February 2024. Should the AGM resolve to pay a dividend, shares in SalMar ASA will be traded ex-dividend of NOK 35 per share from 7th of June 2024. The Annual Report for 2023, including the Report of Board of Directors, sustainability report, financial statements ...

Alexander Aukner
  • Alexander Aukner

SalMar (Hold, TP: NOK690.00) - Q1 trading update

SalMar released its Q1 trading update on 10 April, revealing higher harvest volumes than we expected in the Central region, but lower in the North. The company also reiterated that it had been negatively affected by string jellyfish in the Northern region in Q1, hurting superior share and harvest weights more than we had previously expected. We have cut our Q1 estimates by 11% following the trading update and expect operating EBIT of NOK1,609m, 13% below consensus. The full report is due at 06:3...

 PRESS RELEASE

SalMar – Q1 2024 Trading update

SalMar – Q1 2024 Trading update Consolidated harvest volumes in Q1 2024 are:Farming Central Norway: 27.8Farming Northern Norway: 17.5SalMar Aker Ocean: 4.8Icelandic Salmon: 2.8Total: 52.9 Alle figures in 1,000 tgw.  As previously communicated, the impact of string jellyfish has resulted in low superior share and average size on the fish harvested in Northern-Norway in the quarter. The full Q1 2024 report will be released on 14 May 2024 at 06:30 CEST, the following presentation will be available through Norwegian webcast at 08:00 CEST and English webcast (recording) at 10:00 CEST. For mo...

 PRESS RELEASE

SalMar – Q1 2024 Trading update

SalMar – Q1 2024 Trading update Konsolidert slaktevolum for Q1 2024 ble:Oppdrett Midt-Norge: 27,8Oppdrett Nord-Norge: 17,5SalMar Aker Ocean: 4,8Icelandic Salmon: 2,8Totalt: 52,9 Alle tall i 1 000 tgw.  Som tidligere kommunisert har påvirkning fra perlesnormaneter medført at det er lav superiorandel og snittvekt på fisken som er slaktet i Nord-Norge i kvartalet. Fullstendig rapport for Q1 2024 vil bli offentliggjort 14. mai 2024 klokken 06:30 CEST, og den påfølgende presentasjonen vil være tilgjengelig via norsk webcast klokken 08:00 CEST og engelsk webcast (opptak) klokken 10:00 CEST.  F...

Alexander Aukner
  • Alexander Aukner

SalMar (Hold, TP: NOK690.00) - Time for a break

SalMar has surpassed our previous target price, and we see few short-term catalysts ahead. We are 8% below consensus on Q1e EBIT on lower expected prices following a higher-than-expected share of downgrades in the quarter as well as higher costs from low volumes. We have cut our 2024–2025e EPS by 10.3–5.8% on lower expected realised prices. We have downgraded to HOLD and trimmed our target price to NOK690 (700). The Q1 results are due at 06:30 CET on 14 May.

Alexander Aukner
  • Alexander Aukner

The quality report

Knowing who has the best farming locations, production areas and operations is key to assessing future performance potential. Our extensive asset quality research findings suggest SalMar has the best sites, and the best MAB portfolio, while Mowi has outperformed its benchmark the most and has the most conservative estimates versus our expectations. Grieg Seafood is the most undervalued and Lerøy Seafood has the highest margin rebound potential in our view.

 PRESS RELEASE

SalMar – Presentation North Atlantic Seafood Forum

SalMar – Presentation North Atlantic Seafood Forum Today at North Atlantic Seafood Forum SalMar is launching an ambitious innovation and R&D initiative, Salmon Living Lab. Attached you will find a copy of the presentation presented by the CEO of SalMar Frode Arntsen. Please see the press release available from SalMars website and for more information about Salmon Living Lab. For more information please contact: Håkon Husby, Head of IR SalMar Tel: +47 936 30 449 Email: About SalMar SalMar is one of the world's largest and most efficient producers of salmon. The Group has farming ope...

 PRESS RELEASE

SalMar – Presentasjon North Atlantic Seafood Forum

SalMar – Presentasjon North Atlantic Seafood Forum I dag på North Atlantic Seafood Forum lanserer SalMar ett ambisiøst innovasjons og forskningsinitiativ, Salmon Living Lab. Vedlagt finner man kopi av presentasjonen som ble presentert av konsernsjef i SalMar Frode Arntsen. Vennligst se pressemeldingen, tilgjengelig fra SalMar hjemmeside, og for mer informasjon om Salmon Living Lab. For mer informasjon vennligst kontakt: Håkon Husby, IR ansvarlig SalMar Tel: +47 936 30 449 Email: Om SalMar SalMar er en av verdens største og mest effektive produsenter av laks. Konsernet har oppdretts...

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