SalMar's Business Structure and Operations

SalMar is a leading global player in the salmon farming industry, with a strong business structure and operations that enable it to thrive in a competitive market. The company was founded in 1992 by Harald Hauge and is headquartered in Bergen, Norway.

SalMar has a dual-listed structure, with shares listed on the Oslo Stock Exchange and the Euronext Growth Oslo market. This structure allows the company to tap into multiple investor bases and maintain a strong presence in the Norwegian market.

SalMar's operations are divided into two main business units: SalMar ASA and Bakkafrost. SalMar ASA is responsible for the company's Norwegian operations, while Bakkafrost is responsible for its Faroese operations. This division enables the company to tailor its operations to the specific needs of each market.

SalMar's focus on innovation and sustainability has been key to its success, with a strong emphasis on reducing its environmental footprint and improving the health and welfare of its fish.

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SalMar's financial performance has been impressive, with significant growth in sales over the years.

The company's sales have increased from 12.39 billion in 2020 to 25.63 billion in 2024.

One notable segment is Fish Farming Central Norway, which has seen sales rise from 5.9 billion in 2020 to 11.25 billion in 2024.

Here's a breakdown of SalMar's sales by segment:

Net Income Growth is a crucial aspect of a company's financial performance. It's a measure of how much profit a company makes after deducting all expenses.

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Let's take a closer look at SalMar ASA's sales by activity. Their total sales have been steadily increasing over the years, reaching 25.63 billion in 2024.

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In 2020, their total sales were 12.39 billion, while in 2021, they reached 14.41 billion. This growth continued in 2022, with sales reaching 19.14 billion.

Here's a breakdown of their sales by activity:

Their fish farming operations in Central Norway have been a significant contributor to their sales, reaching 8.87 billion in 2022.

SalMar ASA's sales by geography show a significant increase in certain regions over the years.

In Europe, excluding Norway, sales rose from $5.27 billion in 2020 to $8.76 billion in 2024. This is a notable increase, but not as high as some other regions.

Norway's sales fluctuated between $2.22 billion in 2020 and $6.66 billion in 2024. The country's sales decreased in 2022 but then jumped to a new high in 2024.

Asia's sales more than doubled from $2.79 billion in 2020 to $5.64 billion in 2024. This region has seen consistent growth over the years.

The USA and Canada saw a steady increase in sales from $2.44 billion in 2020 to $5.02 billion in 2024. This region's sales have been relatively stable compared to others.

Here is a breakdown of the sales by geography for SalMar ASA:

SalMar's company structure is comprised of two main entities: SalMar AS and Vikenco AS.

SalMar AS, the parent company, was founded on October 1, 1990, and is headquartered in Kverva, Norway. It operates within the Agricultural Commodities/Milling sector, focusing on the processing and preservation of fish and fish products.

SalMar AS produces farmed salmon, a key product in the fishing industry. Vikenco AS, on the other hand, is a subsidiary that wholesales and supplies seafood products.

The Executive Committee is a key part of any company's structure, and SalMar ASA is no exception. The committee is led by Frode Arntsen, who has been serving as CEO since October 23, 2022.

Frode Arntsen is a seasoned executive with a wealth of experience. He is 55 years old and has been at the helm of SalMar ASA for over a year now.

The committee also includes Ulrik Steinvik, who serves as the Director of Finance/CFO. Steinvik is 51 years old and has been in this role since October 26, 2022.

Arthur Wisniewski is another important member of the Executive Committee, serving as the Human Resources Officer. He has been with the company since December 31, 2017, and is 47 years old.

Here's a brief overview of the Executive Committee:

Roger Bekken is the Corporate Officer/Principal, and he has been in this role since June 3, 2018.

The Board of Directors plays a crucial role in shaping the company's direction and ensuring its success. SalMar ASA has a diverse group of directors with varying levels of experience and expertise.

Margrethe Hauge has been a director since 2017, bringing over 5 years of experience to the table. Gustav Witzøe, on the other hand, has been a director since 2010, with over 13 years of experience.

The board members are responsible for making key decisions that impact the company's operations and growth. Leif Inge Nordhammer joined the board in 2020, bringing his expertise to the table. Arnhild Holstad and Morten Loktu also joined the board in 2022, each contributing their unique perspectives.

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The board's composition is a deliberate choice, reflecting the company's commitment to diversity and expertise. Ingvild Kindlihagen is the newest member of the board, joining in 2023.

Here is an overview of the current Board of Directors:

Let's take a closer look at SalMar ASA's shareholders. Gustav Witzøe holds a significant stake, with 44.81% of the company's equities.

Gustav Witzøe's valuation is 3.202 billion kr, a substantial amount of money.

Folketrygdfondet, Norway's government pension fund, also has a notable stake, owning 5.643% of the company's equities.

Storebrand Asset Management AS owns 1.812% of the company's equities, a relatively smaller stake compared to Gustav Witzøe's.

Alfred Berg Kapitalforvaltning AS and ODIN Forvaltning AS also have smaller stakes, owning 1.733% and 1.581% of the company's equities, respectively.

Here is a list of the top shareholders:

The total value of these shareholders' stakes is substantial, with Gustav Witzøe's valuation alone being 3.202 billion kr.

SalMar ASA is a key company within the group, founded on October 1, 1990, and headquartered in Kverva, Norway. It's involved in the fishing industry, processing and preserving fish and fish products, and producing farmed salmon.

One of the group's subsidiaries is Vikenco AS, which was founded in 1973 and is based in Aukra, Norway. Vikenco AS specializes in wholesaling and supplying seafood products.

SalMar ASA and Vikenco AS operate within different sectors, with SalMar AS categorized as Agricultural Commodities/Milling and Vikenco AS as Food Distributors.

SalMar is a leading player in the global salmon farming industry, with a strong focus on sustainability and responsible operations. The company has a significant presence in Norway and Scotland.

SalMar's operations are built around its own farming operations, as well as its partnership with other companies. Its business model is designed to maximize efficiency and minimize environmental impact.

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Let's take a closer look at SalMar ASA's holdings. The company's biggest holding is Icelandic Salmon, making up a significant 52.48% of their equities.

Icelandic Salmon is a substantial investment, with SalMar ASA holding 16,248,152 shares.

The valuation of this holding is a staggering $141,347,711.

As part of our holdings and operations, we have a strong focus on seafood preparation and packaging.

Our goal is to ensure the quality of our seafood products, which is why we follow specific guidelines.

One of the key aspects of our quality control is the stock market, where we closely monitor the performance of our company, SalMar ASA, which is listed under the ticker SALM.

Equities are another important area we keep an eye on, as they directly impact our business operations.

Here is a quick rundown of our stock market performance, including our company's stock, SALM Stock:

The company's gutted weight has fluctuated significantly over the years, with a high of 211,600 tonnes in one instance.

This is a notable increase from other years, showcasing the company's growth and expansion.

In 2022, SalMar's gutted weight was 211,600 tonnes, a substantial amount that reflects the company's strong presence in the industry.

This achievement is a testament to the company's ability to adapt and thrive in a competitive market.

The company's gutted weight has also been influenced by strategic partnerships and acquisitions, such as the establishment of a 50/50 joint venture with Lerøy Seafood Group in the UK.

This move has enabled SalMar to expand its operations and increase its market share.

In another year, the company's gutted weight was significantly lower, standing at 104,000 tonnes.

This decrease highlights the importance of strategic planning and adaptation in the ever-changing industry landscape.

The company's gutted weight has also been affected by changes in leadership, with several CEOs taking the helm over the years.

This shift in leadership has brought new perspectives and approaches to the company's operations and decision-making processes.

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SalMar is committed to reducing greenhouse gas emissions in alignment with the 1.5°C target of the Paris Agreement. They aim to achieve a 42% reduction in emissions within their own operations and throughout the value chain by the end of this decade.

SalMar's approach to sustainability is essential for the longevity and profitability of their business, while also promoting environmental and social balance. This includes minimizing environmental impacts and preserving natural resources to maintain healthy ecosystems and promote fish welfare.

Salmon farming is one of the most sustainable techniques for producing food, primarily due to its eco-friendliness in terms of space utilization, freshwater consumption, and greenhouse gas emissions.

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Sustainability is essential for the future of food production, and salmon farming is one of the most sustainable techniques available.

The world's population is consuming resources at a rate that surpasses the planet's ability, making sustainable approaches to food production crucial. Food production is accountable for a significant fraction of the ecological and climate burden on the planet.

Salmon farming stands out as a sustainable option due to its eco-friendliness in terms of space utilization, freshwater consumption, and greenhouse gas emissions. This makes it an attractive solution for providing healthy, protein-rich food to the world's growing population.

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SalMar is committed to reducing greenhouse gas emissions in alignment with the 1.5°C target of the Paris Agreement, aiming for a 42% reduction in emissions by the end of this decade. This commitment has been verified by the Science Based Targets initiative.

SalMar's efforts to reduce emissions are part of its broader sustainability strategy, which includes minimizing environmental impacts and preserving natural resources.

This year, we've seen a significant boost in total volume harvested, thanks in part to the first delivery from smolt facility Tjuin in Central Norway.

The two semi-offshore projects have performed exceptionally well, with strong biological performance that's contributed to the increased harvest.

We've also made some strategic moves to expand our operations, including the purchase of non-controlling interests in Refsnes Laks and Hitramat Farming.

Additionally, we've acquired two licences for the production of farmed salmon in Central Norway, which will help us meet growing demand.

The sale of Osan Settefisk AS has also allowed us to reallocate resources and focus on more promising ventures, like our acquisition of a controlling interest in AS Knutshaugfisk.