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• The fourth quarter of 2024 marks the end of a challenging year for SalMar. However, biological conditions and results improved significantly towards the end of the year, providing brighter prospects for 2025.

• Operational EBIT for Norway was NOK 1,485 million in the fourth quarter of 2024. The harvest volume was 67,300 tonnes, and operational EBIT per kg was NOK 22.1. Operational EBIT for the group was NOK 1,489 million in the fourth quarter of 2024. The harvest volume was 73,800 tonnes, and operational EBIT per kg was NOK 20.2.

• The farming segments in Norway had a good development throughout the quarter and delivered strong results. Sales and industry contributed positively with their efficient and flexible operational setup, delivering a good result.

• For SalMar Aker Ocean, the production cycles for both Arctic Offshore Farming and Ocean Farm 1 are underway, with planned harvesting in the first and second quarters of 2025.

• Icelandic Salmon was still affected by events earlier in 2024, but the result is better than in previous quarters.

• Scottish Sea Farms reported another good quarter with increased harvest volume, high harvest weight, and good biological status in the sea in all regions.

• Based on good financial results and a solid financial position, the board proposes a dividend of NOK 22.00 per share for the financial year 2024.

“Throughout the quarter, we have seen good biological development in the sea, especially in Northern Norway. Together with the solid structure we have in SalMar, and thanks to our employees who have handled a challenging year in an impressive way, we deliver good financial results in the period. With better biological status, the outlook for 2025 looks brighter compared to last year,” says Frode Arntsen, CEO of SalMar ASA

Strengthening our presence in Norway further

SalMar has great faith in and willingness to invest in profitable and sustainable salmon production in Norway and has recently measures that will further strengthen SalMar's position. In February 2025, the purchase of a controlling stake in AS Knutshaugfisk was completed. AS Knutshaugfisk currently has 3,466 tonnes MTB in licenses and four farming locations in production area 6 in Mid-Norway.

Since the purchase of NTS and the merger with NRS in 2022, SalMar has held a 37.5% stake in Wilsgård AS. In February, SalMar ASA and Wilsgård Sea Service AS, who together owns 75% of the shares in Wilsgård AS, have agreed to work together to further develop their ownership interests in Wilsgård. This includes a consolidation with SalMar. Wilsgård currently has a strong presence on Senja and has 5,844 tonnes MTB in licenses in production areas 10 and 11 in Northern Norway.