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The fish farming giant offers a slightly worse result than analysts expected for the fourth quarter. – 2020 has been a demanding year characterized by great uncertainty, says the manager.
CEO Gustav Witzøe in Salmar at one of NHO’s annual conferences. The son, who is also named Gustav Witzøe, controls 52.46 percent of Salmar through the Kverva company. It owns 97 percent in Kverva.
Kjetil Malkenes Hovland / E24
On Thursday, Salmar will present figures for the last three months of last year, where the quarterly report shows an operating profit of NOK 414 million.
In the same period of the previous year, this result reached NOK 658 million.
Previously, Salmar was expected to report an operating profit of NOK 432 million, based on estimates obtained by Infront TDN Direkt.
Revenue in the fourth quarter of last year was just over NOK 3 billion, compared to NOK 3.2 billion the year before.
– 2020 has been a demanding year marked by great uncertainty for the fish farming industry. This uncertainty has also affected the fourth quarter, says CEO Gustav Witzøe.
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Will distribute more than two billion
The board proposes a 2020 dividend of NOK 20 per share, corresponding to a payment of NOK 2.26 billion, it is stated.
For 2019, a dividend of NOK 13 per share was paid, while for 2018 a dividend of NOK 23 per share was paid.
For 2020 as a whole, operating profit was just over NOK 3 billion, three percent more than in 2019.
– At the beginning of the year, few would dare to hope that we could deliver an equally good operating result for 2020 as the previous year. But through a strategic and operational approach, as well as employees who have demonstrated formidable ability to adapt to a new workday, we have succeeded, says Witzøe.
Maintains kill expectations
Salmar harvested 43,600 tonnes in the fourth quarter, the company previously reported.
Of this, Central Norway accounted for 20,900 tonnes, Northern Norway 19,100 tonnes, while Arnarlax in Iceland accounted for 3,600 tonnes.
At the same time, the previous year, the total slaughter was slightly lower, at 40,300 tonnes.
Salmar maintains his expectations of a total harvest volume in Norway of 163,000 tonnes in Norway and 14,000 tonnes in Iceland in 2021.
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Action jump
Lately, the salmon giant has been doing well on the stock market.
This year, the stock is up about 17 percent at a price of NOK 590. In the last year, it was up 30 percent.
The average target price for analysts is NOK 554 per share, which ranges between NOK 430 and 700, according to Infront TDN Direkt.
