SalMar CEO Reports Strong Demand and Limited Supply Growth in 2024

SalMar ASA CEO Frode Arntsen presented the company's first-quarter results, highlighting challenges faced during the winter period. The company remains optimistic about the aquaculture industry's future, expecting strong demand for its products in 2024.

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Aqsa Younas Rana
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SalMar CEO Reports Strong Demand and Limited Supply Growth in 2024

SalMar CEO Reports Strong Demand and Limited Supply Growth in 2024

On May 14, 2024, SalMar ASA CEO Frode Arntsen presented the company's Results, first, quarter, challenging, winter, peri at Hotel Continental in Oslo, Norway. Arntsen highlighted the challenges faced in the first quarter, emphasizing the importance of understanding biology and the environment for operational and financial performance.

Why this matters: The global demand for healthy and nutritious food is increasing, and the aquaculture industry plays a crucial role in meeting this demand. As the world's population continues to grow, the industry's ability to sustainably produce food will have significant implications for global food security and the environment.

Despite the challenges, SalMar maintains a positive outlook on the future of the aquaculture industry. Arntsen stated, "Because food does not go out of style, the world needs more healthy and nutritious food." Aquaculture industry sees significant untapped potential for growth and is committed to expanding its business sustainably while creating value for stakeholders.

SalMar, one of the world's largest and most efficient salmon producers, expects strong demand for its products in 2024, with limited global supply growth. The company operates farming sites in Central Norway, Northern Norway, and Iceland, as well as substantial harvesting and secondary processing operations. SalMar also owns 50% of Scottish Sea Farms Ltd. and has ventured into offshore aquaculture through SalMar Aker Ocean.

During the presentation, SalMar's CEO and CFO provided a segment update and outlook for the company. The event, held at 08:00 CEST, was also made available via webcast on the company's website, www.salmar.no.

As SalMar navigates the challenges and opportunities in the aquaculture industry, the company remains focused on sustainable growth and meeting the increasing global demand for healthy, nutritious seafood. With its efficient operations, strategic investments, and commitment to sustainability, SalMar is well-positioned to capitalize on the industry's potential in the years to come.

Key Takeaways

  • SalMar ASA CEO presents Q1 results, citing challenging winter period.
  • Aquaculture industry crucial for global food security and environment.
  • SalMar maintains positive outlook, expects strong demand in 2024.
  • Company focuses on sustainable growth, meeting global demand for seafood.
  • SalMar well-positioned to capitalize on industry's potential.