Bergen, Norway-based Lerøy Seafood Group, Glyvrar, Faroe Islands-based Bakkafrost, and Sistranda, Norway-based Måsøval have issued preliminary Q3 2023 updates.
Lerøy Seafood said it expects a total harvest volume of salmon and trout for Q3 2023 of 53,900 gross weight tonnage, excluding volumes from Scottish Seafarms. Its Lerøy Aurora operations in Troms and Finnmark will produce 16,500 metric tons (MT), its Lerøy Mid group in Nordmøre and Trøndelag will produce 22,400 MT, and its Lerøy Sjøtroll division in Vestland will produce 14,900 MT, of which 7,100 will be trout.
In Q2 2023, Lerøy harvested 56,179 MT of salmon and trout, with Lerøy Aurora accounting for 15,700 MT, Lerøy Mid producing 21,900 MT, and Lerøy Sjøtroll harvesting 18,600 MT, of which 7,100 will be trout.
Lerøy Havfisk’s wild-catch harvest will reach 14,400 MT in Q3 2023, of which 3,500 MT is cod. That is down from 14,900 MT overall and 4,100 MT of cod in Q2 2022.
Last quarter, Lerøy posted 17 percent growth in revenue year over year to hit a record NOK 7.67 billion (USD 722.8 million, EUR 665.8 million), while its operating profit before fair-value adjustments climbed 2 percent to NOK 950 million (USD 89.5 million, EUR 82.5 million).
Its complete Q3 2023 report will be released on 15 November, 2023.
Bakkafrost’s Q3 2023 production will reach 20,800 MT, with its Faroese harvests reaching 16,700 MT head-on gutted, and its Scottish harvests hitting 4,100 MT. For the Faroes, its Farming North segment is responsible for 12,000 MT, its Farming West will produce 2,000 MT, and its Farming South will produce 2,800 MT. In Scotland, its North division will produce 2,900 MT, and its South will harvest 1,200 MT.
In Q3 2022, Bakkafrost’s Faroese production was 16,900 MT and its Scottish production was 8,100 MT. In July 2023, the company issued a warning to shareholders regarding expected low harvest volumes, and warned in its Q2 2023 results it expects production woes in Scotland to continue.
Bakkafrost’s feed sales in Q3 2023 were 35,900 MT, and Havsbrún sourced 109,700 MT of raw materials in Q3 2023. Its full Q3 2023 report will be released on 7 November, 2023.
Måsøval said its harvested volume for Q3 2023 will be 7,037 MT gutted weight, up from 4,879 MT in Q3 2022. Its full Q3 2023 report will be published 21 November. The integrated salmon producer, which operates Aqua Farms Vartdal, Pure Farming, Måsøval Hjelpeselskap Drift, and Måsøval Hjelpeselskap Lisen, had harvested a reduced volume of 7,573 metric tons (MT) in Q2 2023. It recently received approval to conduct a demerger and subsequent triangular merger of the company’s subsidiaries that will see Måsøval become a pure holding company and assign all its commercial permits to Pure Farming.
In Q2 2023, Måsøval reported operating revenue of NOK 805 million (USD 75.9 million, EUR 69.9 million), down from the NOK 934 million (USD 88.1 million, EUR 81.1 million) the company reported for the corresponding period of 2022.
Photo courtesy of Måsøval
