SalMar

SalMar ASA (OSE: SALM) is one of the world's largest producers of farmed Atlantic salmon. Founded in 1991, the company is headquartered in Frøya, Norway and has farming operations in Norway, Iceland, and Scotland. SalMar was listed on the Oslo Stock Exchange in 2007 and has since grown to become a major player in the global salmon industry through organic growth and strategic acquisitions.

SalMar's operations span the entire value chain for farmed salmon production:

• Smolt production in hatcheries using recirculating aquaculture systems (RAS) technology

• Sea-based farming in conventional net pens as well as semi-offshore and offshore installations

• Harvesting and processing at facilities like InnovaMar and InnovaNor

• Sales and distribution to over 50 countries worldwide

• Research and development focused on sustainable aquaculture practices

SalMar reported strong financial results for Q1 2023, with an operational EBIT of NOK 1,884 million on a harvest volume of 48,500 tonnes. The company expects to harvest 243,000 tonnes of salmon in Norway in 2023, along with 16,000 tonnes in Iceland and 37,000 tonnes in Scotland. SalMar continues to invest in offshore and semi-offshore farming technology through its SalMar Aker Ocean subsidiary, which aims to produce 150,000 tonnes of salmon annually from offshore farms by 2030. The company has expressed concerns about Norway's proposed resource rent tax on salmon farming and its potential impact on future investments.