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home / news releases / SALRY - SalMar: Jellyfish Strike Quarter's Volumes


SALRY - SalMar: Jellyfish Strike Quarter's Volumes

2024-06-23 15:30:29 ET

Summary

  • SalMar saw improvements in Scottish businesses, but faced biological issues in Northern Norway and Iceland impacting volumes and profits.
  • Despite plans to organically grow operational EBIT to get ahead of the higher taxes, we think environmental conditions will see them fall a little short for this year.
  • Jellyfish effects are forcing less efficient harvest and hampering profits.
  • Overall, SalMar is fairly valued at PEs likely above 20x, with harvest volumes on target for the year but facing challenges with declining salmon prices and limited growth.

For further details see:

SalMar: Jellyfish Strike Quarter's Volumes
Stock Information

Company Name: Salmar ASA ADR
Stock Symbol: SALRY
Market: OTC

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