Grieg Seafood is a major Norwegian-based salmon farmer with farming operations in Norway, Canada and UK. Grieg Seafood is headquartered in Bergen and has two farming divisions in Norway; Finnmark in Northern Norway and Rogaland in Southern Norway. The Canadian operations are located in British Colombia and on Newfoundland. The UK operations are currently classified as assets held for sale, and we expect this division to be divested during 2021. After the cooperation with Bremnes regarding the sale of fish was ended in 2020, the company now handles the sale and distribution of its own fish in all regions.
After being awarded 4 green licenses in Finnmark in 2014, GSF has worked hard to increase the utilization in this region and are now guiding for 37k tonnes in 2021 vs 19k tonnes in 2015. In Rogaland the company has invested heavily in big smolt, to be able to reduce biological risk and increase production in this region to 28k tonnes in 2021. Also in Finnmark, the company has been expanded its smolt production significantly over the years and have lately also invested in more smolt capacity in Canada, and increased the production in this region to 21k tonnes in 2020.
The next step in the company’s growth journey include a 2025 guiding of 130k tonnes, vs 100k tonnes guided for 2022. Part of the growth will be organic growth in Finnmark, Rogaland and British Columbia, while 15k tonnes in 2025 is expected to come from the new greenfield project in Newfoundland. The first fish in Newfoundland will be harvested in 2022e, and the long term ambition in the region is to produce 45k tonnes per year.
Represented by: CEO Andreas Kvame (speaker), CFO Atle Harald Sandtorv
Agenda (CEST): 1010-1020
Agenda parallel session: Track 1, part 1
Physical/Digital: Physical
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