We’ve had an exciting second quarter in 2024, and we’re proud to share some good news! With an operational EBIT of NOK 298 million in Q2 – up from NOK 211 million in the same quarter last year – we’re clearly on the right course.
Despite the rollercoaster ride that the salmon prices took us on throughout the quarter, we managed to achieve prices that were NOK 8 higher per kilo than last year. This really highlights how steadfast and adaptable we are at Måsøval, even in a challenging market.
Our farming segment delivered fantastic results, with lower costs and higher prices being key contributors. We’ve reduced our costs to NOK 51 per kilo of gutted weight, compared to NOK 63 per kilo in the same quarter last year.
Thanks to the collective efforts of the Måsøval team, our operational EBIT per kilo has risen to NOK 44.6, marking a strong increase from NOK 27.8 in the corresponding quarter last year.
“I am proud of the strong margins we’ve achieved, particularly in region West. This quarter really demonstrates what we can accomplish when we work together as a team, with dedicated staff and high performing sites,” says our CEO, Helge Kvalvik.
As we look to the future, we’re particularly excited about the upcoming launch of our new processing plant on Hitra, which is set to go live in September. We believe this will offer us even greater flexibility, stability, and fresh opportunities.
“I’m confident that we’ll see even closer integration between our sales and processing segments, which will benefit the entire value chain,” Kvalvik adds.
We’re expecting to harvest between 26,500 and 27,500 tonnes in 2024, an increase from 24,500 tonnes in 2023, and we’re eager to continue our journey towards even more sustainable growth!
The complete quarterly report for Q2 2024 can be found here.
Main image: Krzysztof Zboralski
Thumbnail image: Fotograf Wittrup and Spillfree
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