Norwegian-headquartered fish farming and fishing company Lerøy Seafood Group (LSG) saw lower harvests of salmon and trout in Q2, but saw increased whitefish harvests.
Lerøy harvested 36,700 gutted weight tonnage (GWT) of salmon and trout in the second-quarter of this year, representing a decrease of 2,200 GWT compared with the corresponding period of 2020.
The contribution to the farmed fish total from the operations at Lerøy Aurora was 5,200 GWT (up from 3,700 GWT in Q2 2020), and Lerøy Midt supplied 14,900 GWT (down from 15,800 MT), while Lerøy Sjøtroll contributed 16,600 GWT (down from 19,400 GWT).
Some 4,500 GWT of Lerøy’s total harvest volume in the last quarter was trout.
With regards to its second-quarter whitefish catch, Havfisk landed 16,300 metric tons (MT) of fish, representing an increase of 3,400 MT year-on-year. Of these landings, cod accounted for 3,200 MT (up from 2,300 MT).
In the first six months of 2021, LSG harvested a total 78,900 GWT of salmon and trout, which was 600 GWT more than at the same stage of last year. Its whitefish landings over the same period decreased by 2,600 MT year-on-year to 42,100 MT, including 14,400 MT of cod.
LSG’s full second-quarter 2021 report will be released on 19 August.
In the first-quarter, the company posted decreased revenues of NOK 4.9 billion (USD 565 million, EUR 477.9 million), and a lower operating profit before fair value adjustments of NOK 455 million (USD 52.5 million, EUR 44.4 million), with the company attributing the declines to reduced demand and prices for both salmon and whitefish, brought by the COVID-19 pandemic.
Previously, LSG estimated a total 2021 salmonid harvest between 205,000 and 210,000 GWT, including its volume from associates, alongside a whitefish catch of approximately 73,000 MT.
Earlier this month, the company was assigned a a “BBB” stable outlook credit rating by Nordic Credit Rating (NCR), with NCR stating that the rating reflected Lerøy’s “relatively strong market position in the profitable salmon farming industry,” as well as the breadth of its operations as a fully integrated seafood producer with significant wild catch, processing, and distribution capabilities.
“It further reflects the company’s moderate financial leverage and strong cash flow, which will allow it to maintain a high level of investment, if necessary, to keep up with technological developments and create revenue growth,” NCR said.
Photo courtesy of Lerøy Seafood Group
