Lerøy set to invest £25m in submersible cages

Presenting the group’s third quarter results, CEO Henning Beltestad (pictured) said he expected the investment to lead to significant improvements by next year.

 

He told shareholders: “Looking ahead to 2025, we are optimistic about further advancements in our biological performance.

 

“Daily, new data reinforces our belief that shielding, particularly through submerged cages, leads to a reduced need for treating the fish against sea lice.

 

The CEO added: “Compared to traditional farming methods, this approach has reduced lice treatment frequency by nearly 90%, with positive impacts on survival rates, the share of superior-quality fish, and overall fish welfare.

 

“To accelerate this progress, we plan to invest an additional NOK 350m in submerged cages in first half 2025, aiming to shield up to 45% of our salmon population by mid-year."

 

The group farming segment reported an operational EBIT or operational profit of NOK 310m (£22m).

 

Beltestad said  the third-quarter results reflected the impact of weaker prices for salmon and trout, coupled with historically high seawater temperatures in Northern Norway.

 

These conditions had intensified sea lice challenges which in the short term, had slightly moderated growth in certain parts of its operations.

 

He expected the total harvest volume this year to end at 190,000 GWT (previous guidance: 193,500 GWT), including 20,000 GWT from Scottish Sea Farms.

 

“Scottish Sea Farms has shown substantial year-over-year profit growth, underscoring strong biological performance,” he added.