Norwegian land-based salmon farmer Salmon Evolution reached breakeven earnings before interest, taxes, depreciation, and amortization (EBITDA) in its farming segment during Q4 2023, ending its first full year of operation on a high note even as its planned farm in South Korea through a joint venture with K Smart Farming faces challenges.
In its Q4 2023 results, Salmon Evolution said its farming segment achieved an operational EBITDA of NOK 43,000 (USD 4,000, EUR 3,700), marking the first time that the segment has avoided a negative EBITDA. That amount came on operating revenue of NOK 85.8 million (USD 8.0 million, EUR 7.5 million) – an increase over the NOK 26.8 million (USD 2.5 million, EUR 2.3 million) the company posted in the same quarter of 2022.
"Q4 2023 marked a significant milestone for Salmon Evolution, having harvested over 1,100 [metric] tons HOG with good results and reaching breakeven EBITDA in the farming segment for the first time,” Salmon Evolution CEO Trond Håkon SchaugPettersen said in a release.
The 1,104 metric tons (MT) head-on gutted (HOG) harvest in Q4 2023 was a record for the company and resulted in sales revenue of NOK 83.6 million (USD 7.8 million, EUR 7.3 million). That revenue came from an “all-in price realization” of NOK 76.40 (USD 7.14, EUR 6.67) per kilogram.
Salmon Evolution said that the farming segment saw continued strong biological performance in Q4 2023 and had more than ...
Photo courtesy of Salmon Evolution
