Grieg and Måsøval issue first 2025 trading updates
The troubled Norwegian salmon company Grieg Seafood has issued a trading update for the first quarter of this year showing a reduced output in three of its four main operating areas.
The total harvest is around 20,800 tonnes slightly down from 21,000 tonnes a year ago. This is made up of (Q1 2024 figures in brackets): Rogaland 7,400 tonnes (9,400 tonnes); Finnmark 8,100 tonnes (5,700 tonnes); Newfoundland 5,100 tonnes (5,200 tonnes) and British Columbia 100 tonnes of spare broodstock fish (700 tonnes).
The complete first quarter report will be released on 22 May.
Grieg is currently facing difficult times following the resignation of CEO Andreas Kvame and Per Grieg junior as chairman just over a week ago following shareholder pressure. Kvame has been replaced by Nina Willumsen Grieg, Regional Director of Grieg Seafood Rogaland.
The company is also suffering losses from its British Columbia business and it has suspended work on its post-smolt facility in Newfoundland.
A sale of its Canadian businesses is now distinct possibility and the welcome news that Canadian seafood will not face tariffs from the United States should increase the chance of such a development
Grieg’s Norwegian salmon farming activities, on the other hand, continue to remain in good shape.
Another Norwegian salmon farmer, Måsøval AS, has also issued its Q1 trading update which shows an increased harvest of 5,226 tonnes. The figure for Q1 2024 was 3,606 tonnes
Måsøval is located in Central Norway in the region west of Trondheim and has both significant farming operations at sea and in-house smolt production.
The company’s full Q1 report will be published on 22 May.
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