OSLO (dpa-AFX) - SalMar ASA (SALM.OL, SALRF), a Norwegian salmon farming company, on Tuesday reported a surge in profit for the third quarter, compared to the same period last year, supported by high harvest volume growth.
Further the company raised its full year 2026 harvest volume outlook and also provided guidance for fiscal 2027.
Following the update, in Oslo the shares were trading 2.76 percent higher at NOK595.00.
Looking ahead, the company expects full year harvest volume of 347,000 tonnes from its previous guidance of 350,000 tons, including its relative share of Scottish Sea Farms, representing 15 percent growth from the previous year.
For 2027, the company expects total harvest volume of 348,000 tonnes, including its relative share of Scottish Sea Farms, broadly in line with 2026.
SalMar also expects low global supply growth in 2027 and continues to see strong demand for its products.
For the third quarter, net profit attributable to shareholders surged to NOK1.38 billion or NOK10.2 per share from NOK 305 million or NOK2.3 per share in the previous year quarter.
Adjusted profit for the period attributable shareholders increased to NOK869 million or NOK6.41 per share from NOK176 million or NOK1.31 per share in the prior year quarter.
Operating profit climbed to NOK2.21 billion from NOK953 million a year earlier.
EBITDA rose to NOK2.17 billion from NOK1.19 billion in the prior year quarter.
Operational EBIT jumped to NOK1.61 billion from NOK711 million in the year-ago quarter.
Revenue for the period rose 10.3 percent to NOK8.66 billion from NOK7.85 billion last year.
Harvest volume reached 105,100 tonnes, compared with 93,200 tonnes in the year-ago quarter.
In Oslo, the shares closed 1.85 percent higher at NOK579.0 on Monday.
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