Frøya, Norway-based salmon-farming firm SalMar had its harvests drop by nearly 30 percent in Q3 2024 largely due to lower production at its Norwegian farming sites.
SalMar said it harvested approximately 60,300 metric tons (MT) of Atlantic salmon in the third quarter of this year, marking a decrease of 17,800 MT on the corresponding quarter of 2023.
According to the salmon producer’s latest trading update, its Farming Central Norway and Farming Northern Norway regions harvested 38,200 MT and 18,300 MT of salmon, respectively, in Q3 2024, compared to 48,400 MT and 25,700 MT a year previously.
SalMar Aker Ocean, which is a joint fish-farming venture between SalMar and Aker formed in 2021, produced 2,100 GWT, compared with no fish in Q3 2023, while Icelandic Salmon contributed 1,800 MT – down from 4,000 MT previously.
SalMar previously estimated a full-year 2024 salmon harvest of 237,000 MT from Norway, 37,000 MT from Scotland, 13,000 MT from Iceland, and 7,000 MT from SalMar Aker Ocean.
Its complete Q3 2024 report will be released 18 November 2024.
Måsøval, also based in Frøya, has confirmed a Q3 2024 Atlantic salmon harvest of 7,138 GWT. In the corresponding period of 2023, Måsøval harvested 7,037 GWT.
On 10 October, Måsøval’s board of directors and the boards of directors of its subsidiaries – Måsøval Drift, Måsøval Lisens, Måsøval Hjelpeselskap Drift, and Måsøval Hjelpeselskap Lisens – confirmed they have adopted a joint plan for a demerger and subsequent triangular merger. This replaces a plan outlined by the board at a general meeting in September 2023.
In a new filing with Euronext Growth (Oslo), the company explained the purpose of the proposed internal reorganization and the final structure remains the same as last year: streamlining Måsøval as a pure holding company and isolating commercial aquaculture licenses in one company – Måsøval Lisens.
Additionally, the board intends to transfer operational equipment and employees with associated assets, rights, and liabilities to another company: Måsøval Drift.
The demerger and the triangular merger are conditional on each other and shall be registered in the Norwegian Register of Business Enterprises consecutively, Måsøval said.
An extraordinary general meeting will be held 25 October 2024 at the company's offices to further organize the proposed demerger and triangular merger.
Måsøval’s complete Q3 2024 report will be released 19 November 2024.
