Måsøval unveils increased harvest – and wins compensation

The family-owned salmon company Måsøval today announced a higher than expected harvest for both 2023 and the final quarter of last year.

With the new year just three days old, it is the first of the big salmon companies to unveil Q4 details.

The company harvested 7,929 tonnes in the final three months of 2023 against an expectation of 7,700 tonnes and 25,533 tonnes for the whole year against a guidance of 24,300 tonnes.

The full Q4 and 2023 details will be unveiled on 27 February.

Just over three months ago, the company undertook a major reorganisation of the business, which it said was necessary to address its growing tax burden.

Måsøval’s 2023 second quarter results had been disappointing with revenues and EBIT down on the previous year.

The company also received some other good news over the Christmas holiday. It was told that it had won a claim for compensation of NOK 12.8m (not far short of £1m) against the Norwegian state for losses incurred after one of its facilities in Norway was misdiagnosed with pancreatic disease (PD) four years ago.

The case went to trial in November this year and a decision was announced just before the New Year.

The court ruled that the State, represented by the Ministry of Trade, Industry, and Fisheries, should be ordered to pay Måsøval NOK 12.8 million in compensation for loss of earnings and incurred expenses as a result of the misdiagnosis, plus accrued interest and delay interest.

The company had originally claimed compensation of NOK 29.8m (£2.3m)