Highlights in the second quarter: Solid craftsmanship and good biological performance gave strong results in both farming in Fish Farming Central Norway.
SalMar overcomes market uncertainty to post “satisfactory” results
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Kverva, Norway-headquartered salmon farmer SalMar ASA saw declines stemming from the COVID-19 pandemic, but still managed to have a solid year financially.
SalMar delivered total operational earnings before interest and taxes (EBIT) of NOK 413.8 million (USD 49.6 million, EUR 40.5 million) in the fourth quarter of last year, down from NOK 658.1 million (USD 78.9 million, EUR 64.5 million) in Q4 2019.
Operational EBIT for the full-year 2020 totaled NOK 3 billion (USD 359.3 million, EUR 293.8 million), while the company’s Norwegian operations posted an operational EBIT of NOK 433.5 million (USD 51.9 million, EUR 42.5 million) in Q4 and NOK 3.06 billion (USD 366.5 million, EUR 299.6 million) for the year as a whole, corresponding to an increase of 3 percent on 2019.