Latest news with #SalMar
The National
4 days ago
- Business
- The National
Norwegian firm planning for first UK deep-sea salmon farm
Offshore salmon farming involves raising fish at sea in submerged cages, several miles away from coastal areas. Modelled on oil platforms, these super-sized farms are bigger than inshore sites and more robust for deeper waters. The new technology is viewed by supporters as a more sustainable form of fish production. But critics have described offshore farming as 'factory farming of the sea' and super farms off Norway have suffered problems such as fish escapes which can impact the marine ecosystem. The finding comes from government documents released under freedom of information law to The Ferret, along with plans leaked from Norwegian aquaculture giant SalMar. They show that the Shetland site, if sanctioned, would see three huge farms spread across an area several times the size of Lerwick – rearing more than five million fish. READ MORE: UK won't recognise Palestine at UN conference despite 'discussions', reports say Proposals for the project are already developed enough for Crown Estate Scotland to be considering specific co-ordinates for the farms. The plans have also been shared with the Scottish Environmental Protection Agency, Shetland Islands Council and the Scottish Government. MSPs were told last month that while firms operating in Norway with links to Scotland are looking at offshore opportunities, no companies currently operating in Scotland are considering this. Campaign group Animal Equality criticised what it described as a 'veil of secrecy' over SalMar's plans, while environmental charity Green Britain Foundation (GBF) said the aquaculture industry was demonstrating it 'can't be trusted'. 'They're apparently planning massive offshore operations in Shetland waters,' said GBF's founder Dale Vince. 'We don't need another experiment in factory farming, in a pristine environment, from an industry in pursuit of profit at any cost.' SalMar did not respond to our request for a comment. Salmon Scotland – which represents salmon farmers – said it had no knowledge of any company plans to move immediately into offshore locations. SalMar in Shetland DURING a visit to Shetland in January, SalMar presented a plan to locals for three separate farms, each five kilometres apart and rearing 1.6 million fish apiece. The site's total footprint would cover more than 25 square kilometres. The plans said the super farm could bring dozens of jobs to Shetland. The scale of the project, however, has concerned local fishers. 'It will mean spatial squeeze inshore and offshore for us,' said Sheila Keith, of Shetland Fishermen's Association. 'I'm not convinced growth is always the best thing for industries in Shetland when we have finite space and parameters to work with. Is expansion the best thing for Shetland?' SalMar presented its plans to a number of local stakeholders, including Yell community council at a public meeting. The community council declined to share the presentation with The Ferret but did volunteer emails from SalMar in which the company said: 'We have chosen not to share any written material such as the presentation shared with you and would not like this to be shared with externals such as the media, please do not share it.' READ MORE: 'Joy, celebration and warmth' of Palestinian art to be showcased at Edinburgh Fringe The firm raised similar concerns with government officials. In emails discussing freedom of information requests, SalMar urged officials to withhold details and they agreed. 'We will redact the specifics on [redacted] proposed and the more specific area of interest first identified, as well as the reference to [redacted] as previously discussed,' an official wrote to SalMar in March. Shetland Islands Council rejected a similar freedom of information request for emails exchanged with SalMar – citing commercial sensitivities and intellectual property rights. The council told The Ferret that it held 'initial pre-application discussions on this matter', but declined to comment further. Holyrood vote this month HOLYROOD will vote on whether to extend marine planning zones into offshore waters later this month, effectively opening up areas to applications for the new technology, as proposed by SalMar for Shetland. At a meeting of the Rural Affairs and Islands Committee (RAIC) last month at Holyrood, Salmon Scotland reassured ministers that regulators would have ample time to develop the expertise to keep offshore farms in check, because companies would move 'incrementally' into deeper waters. 'Companies at the moment have no direct, to my knowledge, plans to move immediately into [offshore] location[s],' said Iain Berrill, Salmon Scotland's head of technical. 'We're not going to rush straight to that area.' Government documents show that SalMar has been discussing plans for a farm in Scotland with government officials for at least 18 months. As early as July 2024, Crown Estate Scotland asked SalMar's holding company, Kverva, to provide co-ordinates to check for existing infrastructure like subsea cables in the area, or other developers who have expressed an interest. Most of these documents – a heavily redacted combination of meeting agendas, minutes and emails – were omitted from the Government's initial freedom of information response to The Ferret, but later released on review. At last month's RAIC Holyrood meeting, ministers were told the Government's marine directorate did not have detailed information about the plans. When asked the next day about those plans, a government spokesperson said some of its communications with SalMar are 'commercially sensitive'. When giving his evidence to the RAIC, Salmon Scotland's Berrill did acknowledge that Norwegian companies are already farming in offshore waters abroad. 'There are companies which have facilities in other countries, specifically Norway, which are in those [offshore] locations at the moment, and they have some links to our companies,' he said. 'But at the moment those that are operating here are doing this in an incremental manner.' Scottish Sea Farms (SSF), one of Salmon Scotland's member companies operating in Shetland, is half owned by SalMar. The Government's minutes show that SSF attended at least one of SalMar's planning meetings with officials in June. At that meeting, SalMar agreed to begin sharing co-ordinates with Crown Estate Scotland. READ MORE: Freedom Flotilla urges UK Government to 'protect' ship from Israel as it nears Gaza Neither SalMar nor SSF responded to requests for comment. A spokesperson for Salmon Scotland confirmed Berrill's evidence. They said: 'The evidence provided to the Rural Affairs and Islands Committee is accurate – while some Norwegian salmon farming companies have the capability to operate in more exposed offshore locations, none of the companies currently operating in Scotland are seeking to develop such farms at this time.' Crown Estate Scotland's director Mike Spain gave evidence alongside Berrill during last month's committee meeting but did not mention SalMar's plans. A spokesperson said: 'If asked to do so, Crown Estate Scotland occasionally completes checks of the seabed for potential development conflicts as a matter of courtesy. The check is effectively a snapshot in time and does not infer any permissions or development rights.' Holyrood is now expected to vote on opening up Scotland's offshore waters to aquaculture applications on Wednesday, June 11, 2025. If passed, the measures would come into effect a week after on June 18. By extending existing marine planning zones from three nautical miles out to 12, the ultimate consenting decision for offshore farms would still rest with local councils, as it currently does for inshore farms. 'There are a lot of unknowns' OFFSHORE salmon farms – mostly in Norway – have a mixed track record. While almost 16,000 fish escaped during SalMar's first offshore trial in 2019, the company has claimed record low fish deaths in more recent rounds of production. During the RAIC meeting last month, various experts described the technology as untested. From fish health to the logistics of getting staff around the massive sites, the RSPCA told ministers 'there are a lot of unknowns'. The head of the Scottish Fishermen's Federation, Elspeth Macdonald, raised concerns about the overall environmental impact of offshore farms – such as fish escapes, the impact of offshore infrastructure or the volumes of fish excrement they might generate. SalMar has now put its offshore plans in Norway 'on hold', according to its website, 'due to regulatory uncertainty'. If Holyrood passes the amendment later this month, SalMar is expected to begin its application for Britain's first deep-sea salmon farm this summer. That process would involve a pre-application consultation and public events in Shetland. A final application could then be submitted with Shetland Islands Council, which is responsible for putting the plans past national regulators.
Yahoo
20-05-2025
- Business
- Yahoo
SalMar - Low volume in Q1 25, but good growth in the sea paves the way for increased volume for the rest of the year
The first quarter was characterized by a low harvest volume where majority of the volume was harvested late in the quarter. The focus in the quarter has been to build biomass so that increased volume is facilitated later in 2025. Operational EBIT for Norway was NOK 852 million in the first quarter of 2025. The harvest volume was 40,400 tonnes and operational EBIT per kg was NOK 21.1. Operational EBIT for the Group was NOK 798 million in the first quarter of 2025. The harvest volume was 42,700 tonnes and operational EBIT per kg was NOK 18.7. The result from the farming segments in Norway is characterized by harvesting late in the period and that fish have been harvested as a result of fish welfare considerations, which resulted in a low average weight. Furthermore, the share of downgraded fish has been high. In sum, this has had a negative impact on price achievement in the quarter. Results from Sales and Industry driven by positive contribution from contracts As expected, Icelandic Salmon harvested a low volume, and the cost is still high. Scottish Sea Farms reported another good quarter with increased harvest volume, high harvest weight and good biological status in the sea in all regions. 'In short, we are pleased with the development in growth and survival in the sea, but financially it is unfortunately weak as a result of harvesting late in the period and the quality of harvested fish in the quarter," says Frode Arntsen, CEO of SalMar ASA. Strengthening Our Presence in Norway SalMar has great faith in and willingness to invest in profitable and sustainable salmon production in Norway and has recently further strengthened SalMar's position. In February 2025, the purchase of a controlling stake in AS Knutshaugfisk was completed. AS Knutshaugfisk currently has 3,466 tons MTB in licenses and four farming locations in production area 6 in Central-Norway. In April, the board of directors of Wilsgård AS and SalMar announced that they had approved a merger plan for Wilsgård AS and SalMar Farming AS. Since SalMar's acquisition of NTS and the merger with NRS in 2022, SalMar has had a 37.5 per cent stake in Wilsgård. Wilsgård currently has a strong presence on Senja and has 5,844 tons MAB in licenses in production areas 10 and 11 in Northern Norway. The merger between Wilsgård and SalMar Farming brings together two strong players in fisheries and aquaculture, and contributes to regional development. The merger is expected to be completed during the summer of 2025, subject to, among other things, necessary approvals from relevant authorities. " Wilsgård is a well-run company that, like SalMar, operates aquaculture in one of the best areas in the world for salmon production. This merger will not only strengthen our position in the region, but also contribute to increased operational efficiency, cost reductions and financial robustness. We have great ambitions for the future and look forward to further developing the combination of our companies," says Frode Arntsen, CEO of SalMar ASA. Outlook The start of 2025 has shown good biological performance in the sea, entering the second quarter with record-high biomass for the season and maintaining volume guidance for the year. For 2025, SalMar expects 256,000 tons in Norway, 7,000 tons from SalMar Ocean, 15,000 tons in Iceland and 32,000 tons in Scottish Sea Farms (100% basis). Considering the relative share from Scottish Sea Farms, a total of 294,000 tons is expected for the group, 17 per cent growth in harvest volume compared to 2024. Although the market is characterized by global uncertainty and increased volume, SalMar continues to experience strong demand for our products and expects lower global supply growth in the second half of 2025 compared to what we have experienced so far in the first half of 2025. The full report and presentation for the first quarter are attached. SalMar's CEO Frode Arntsen and CFO Ulrik Steinvik will present the company's results today at 08:00 at Hotel Continental in Oslo. The presentation will also be webcast on For more information, please contact: Frode Arntsen, CEO Tel: +47 482 06 665 E-mail: Ulrik Steinvik, CFO Tel: +47 900 84 538 E-mail: Håkon Husby, Head of IR Tel: +47 936 30 449 E-mail: About SalMar SalMar is one of the world's largest and most efficient producers of salmon. The Group has farming operations in Central Norway, Northern Norway, Offshore and Iceland, as well as substantial harvesting and secondary processing operations. In addition SalMar owns 50% of Scottish Sea Farms Ltd. See for more information about the company. This information is subject to the disclosure requirements stipulated in section 5-12 of the Norwegian Securities Trading Act. Attachments SalMar Q1 25 - Report SalMar Q1 25 - PresentationError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-05-2025
- Business
- Yahoo
SalMar - Invitation to presentation of the first quarter 2025 results
SalMar presents results for the first quarter 2025 on Tuesday 20 May 2025 at 08:00 CEST. The presentation will be held at Hotel Continental in Stortingsgaten 24/26 in Oslo. CEO Frode Arntsen and CFO Ulrik Steinvik will be representing the company. The presentation will in addition be available on Norwegian webcast at 08:00 CEST on There will be opportunity to send in questions during the Norwegian presentation. An English webcast (recording) will be available from 10:00 CEST on After the presentation two group presentations will be arranged, one physical presentation in Norwegian at 12:00 CEST and one digital presentation in English at 15:15 CEST. For registration and dial in details, please register via DNB Carnegie. The results will be available from 06:30 CET on the company's homepage, and Oslo Stock Exchange's page, For more information, please contact:Håkon Husby, Head of Investor RelationsTel: +47 936 30 449Email: This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-05-2025
- Business
- Yahoo
SalMar - Invitation to presentation of the first quarter 2025 results
SalMar presents results for the first quarter 2025 on Tuesday 20 May 2025 at 08:00 CEST. The presentation will be held at Hotel Continental in Stortingsgaten 24/26 in Oslo. CEO Frode Arntsen and CFO Ulrik Steinvik will be representing the company. The presentation will in addition be available on Norwegian webcast at 08:00 CEST on There will be opportunity to send in questions during the Norwegian presentation. An English webcast (recording) will be available from 10:00 CEST on After the presentation two group presentations will be arranged, one physical presentation in Norwegian at 12:00 CEST and one digital presentation in English at 15:15 CEST. For registration and dial in details, please register via DNB Carnegie. The results will be available from 06:30 CET on the company's homepage, and Oslo Stock Exchange's page, For more information, please contact:Håkon Husby, Head of Investor RelationsTel: +47 936 30 449Email: This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-04-2025
- Business
- Yahoo
SalMar to buy salmon farmer Wilsgård outright
Salmon producer SalMar has inked a deal to acquire the remaining shares in Wilsgård through a merger that values the Norwegian aquaculture company at NKr1.76bn ($168.8m). SalMar, which is also based in Norway, already owned a 37.5% stake in Wilsgård. The transaction was first proposed in February and has now been confirmed. The company said the merger brings together 'two strong players' in fisheries and aquaculture and is 'expected to increase operational efficiency, reduce costs and enhance financial resilience'. The transaction is structured as a triangular merger, where SalMar issues shares while its subsidiary, SalMar Farming, absorbs Wilsgård. The deal is split between 80% in shares and 20% in cash. SalMar originally acquired its stake in Wilsgård through its 2022 acquisition of NTS and subsequent merger with Norway Royal Salmon. The company, which operates farms in Central and Northern Norway and Iceland, aims to complete the merger during the summer, subject to regulatory approval. SalMar said Wilsgård holds a 'strong presence' on the Norwegian island of Senja, with the 5,844t maximum allowed biomass (MAB) in licences in Northern Norway. In what SalMar described as a 'challenging year', the company reported gross operating revenues of NKr26.43bn in 2024, down 6.3% from 2023. Operational EBIT declined 33.8% year-on-year to NKr5.43bn. Profit for the period fell 8.5% to NKr3.11bn. Announcing the results, Frode Arntsen, CEO of SalMar, said: 'We have experienced challenges in 2024 that have affected harvest volumes, but we are taking steps, adapting, and improving throughout the value chain.' Last month, SalMar agreed to purchase Aker Capital's 15% stake in SalMar Aker Ocean (SAO) for NKr650m, valuing SAO at NKr4.33bn on a 100% basis. SalMar already owned 85% of the business. Additionally, SalMar completed its purchase of a controlling stake in AS Knutshaugfisk, also a salmon farmer, in February. AS Knutshaugfisk holds 3,466t MTB in licences and operates four farming locations in Mid-Norway. "SalMar to buy salmon farmer Wilsgård outright " was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
