Måsøval AS posts record revenue for 2020

Made by nature

Måsøval AS posts record revenue for 2020Måsøval AS posts record revenue for 2020

Måsøval AS posts record revenue for 2020

Sistranda, June 15, 2021

Måsøval AS continued its strong growth and posted NOK 928 million in revenue in 2020, a new record for the company. Pre-tax profits also set a new record: NOK 242 million. "One of the things we are most proud of in Måsøval is our high salmon survival rate. As much as 93% of our salmon ends up as food of the highest quality. For us, good fish health goes hand in hand with good financial results," says Asle Rønning, CEO in Måsøval AS.

Read the annual report for 2020

The aquaculture company, whose head office is on Frøya on the Trøndelag coast, produced  16 253 tonnes of salmon (HOG) last year. That's more than a doubling from 2017 until today, making Måsøval one of the fastest growing aquaculture companies in Norway. In addition, its EBITDA margin increased from 26.5% in 2019 to 29.3% in 2020.

Watch the video about Måsøval

"Operationally, 2020 was a very good year for Måsøval AS. We achieved all of the key goals set by the board in our action plan. The survival rate of 93% is significantly higher than average, both for the region and the country as a whole," says Rønning.

CEO, Måsøval AS, Asle Rønning. Photo: Måsøval.

On Thursday, June 10, Måsøval announced that it's seeking listing on Euronext Growth on the Oslo Børs stock exchange. The company has ambitions of further growth and aims to achieve a production volume of 28 500 tonnes of HOG in 2027. Maintaining a strong focus on biology and fish health is decisive to reaching these goals. 

"We have carried on the positive trends of recent years in 2020, and are maintaining good biological control. I would like to thank all of our employees for carrying out thorough risk analyses and making excellent assessments every single day. Not least, I would like to thank everyone who contributes to making important decisions at our weekly biology meetings, which are at the very heart of Måsøval AS," says Rønning.

Måsøval AS's slogan is ‘Made by nature - pioneered by Måsøval’, a concept that was launched in 2020. Måsøval was one of the first companies to start fish farming in Norway in 1972 and is owned by brothers Lars and Anders Måsøval. Today, Måsøval has 120 employees divided among its facilities at Frøya, Kristiansund, Aukra and Hustadvika. In 2019, the company was awarded four development licences for its innovative Aqua Semi project, representing a potential production volume of 6 000 tonnes of HOG in total. The goal is to start construction on Aqua Semi in 2021.

Read more about Aqua Semi

"Måsøval's ambition is to be one of the world's leading aquaculture companies. We have experienced strong growth in recent years thanks to our talented colleagues who have great expertise and who love the profession and the salmon. We are now looking forward to a new chapter in the company's history, as a listed company," says Chair of the Board in Måsøval AS, Lars Måsøval.

For more information, please contact:

Asle Rønning, CEO, Måsøval AS, asle.ronning@masoval.no, +47 918 09 043
Lars Måsøval, Chair of the Board, Måsøval AS, lars@masoval.no, +47 918 38 684