Harvests, earnings increase at Norway Royal Salmon

Norway Royal Salmon workers walk along salmon net pens.

Norway Royal Salmon (NRS) achieved operational earnings before interest and taxes (EBIT) of NOK 101.6 million (USD 11.4 million, EUR 10 million) and an EBIT-per-kilogram of NOK 9.43 (USD 1.06, EUR 0.93) for the fourth quarter of 2021, according to preliminary figures compiled by the Trondheim-headquartered producer.

Its corresponding figures for the same quarter of 2020 were NOK 17 million (USD 1.9 million, EUR 1.7 million) and NOK 0.60 (USD 0.07, EUR 0.06), respectively.

NRS’s total operating revenues in Q4 2021 reached almost NOK 1.5 billion (USD 168.4 million, EUR 148.3 million), up from less than NOK 1.2 billion (USD 134.8 million, EUR 118.6 million) a year prior.

Before tax, it made a loss of NOK 10.7 million (USD 1.2 million, EUR 1.1 million), compared to a loss of NOK 271.9 million (USD 30.5 million, EUR 26.9 million) in Q4 2020.

NRS harvested 13,257 metric tons (MT) of gutted-weight salmon in the quarter, compared with 7,148 MT in Q4 2020.

For the full-year 2021, its harvest volume was 49,640 MT gutted-weight, an increase of almost 20,000 MT.

NRS’s total operating revenues last year amounted to NOK 5.8 billion (USD 651.3 million, EUR 573.5 million), up from NOK 5.1 billion (USD 572.2 million, EUR 504.3 million) in 2020. Its operational EBIT for the year was NOK 344.3 million (USD 38.7 million, EUR 34 million), which was NOK 98 million (USD 11 million, EUR 9.7 million) more than 2020, while its profit before tax increased more than 10-fold to NOK 735.2 million (USD 82.5 million, EUR 72.7 million).

Final figures for NRS’s fourth-quarter 2021 will be presented on 23 February, 2022.

NRS owns 36,085 MT maximum allowed biomass (MAB) for salmon farming in Troms and Finnmark, and 11,800 MT MAB for salmon farming and 5,300 MT MAB for trout farming in Iceland through Arctic Fish. In addition, the group has minority interests in two associated Norwegian fish farming companies which together own nine fish-farming licenses.   

In August 2021, Rørvik, Norway-based NTS beat out SalMar to purchase 70 percent of NRS, which it then merged with SalmoNor – itself a combination of Midt-Norsk Havbruk AS and SalmoNor AS. On 16 February, 2022, SalMar’s bid to take over NTS moved forward after a majority of NTS shareholders accepted the Frøya, Norway-based salmon-farming firm’s share-purchase offer.

Photo courtesy of Norway Royal Salmon


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