GlobeNewswire by notified

Lerøy Seafood Group ASA: Progress in biological performance. Promising shielding technology enhances fish welfare.

Share

GOOD BIOLOGICAL DEVELOPMENT IN THE FIRST QUARTER OF 2024. PROGRESS IN VAP S&D CONTINUES.

Today, Lerøy Seafood Group ASA reports a consolidated operational EBIT of MNOK 842 for the first quarter of 2024. Of this, Farming accounts for MNOK 576, with seasonally low harvest volumes. CEO Henning Beltestad says; We have had a good quarter in Farming with strong biological development. Considering the very cold sea temperatures, our fish are growing well. It is also very pleasing to note significant improvement in biology and earnings at Scottish Seafarms.

Within Wild Catch, an operational EBIT of MNOK 187 is reported in the quarter, traditionally high season, driven by good catch volumes and high cod prices. This segment will be challenging going forward due to lower quotas, where our quota and basis for operations will be further reduced as a result of the new quota report (“Kvotemelding”), Beltestad continues.

The downstream operations (VAP S&D) generates an operational EBIT of MNOK 176 in the first quarter, driven by operational improvements, high capacity utilization in Norway, and increased product prices. With our fully integrated value chain, we have a favorable position with high processing capacity in Norway, which we have utilized well in the quarter. We have good momentum and have succeeded in reversing the trend in several downstream businesses, Beltestad says.

INVESTMENTS IN FISH WELFARE WILL CONTRIBUTE TO ACHIEVING STRATEGIC GOALS FOR 2025

Looking into the future, Beltestad comments: At Lerøy, we are taking new steps towards achieving ambitious, strategic goals for 2025. Our implementation of shielding technology is showing promising results, with minimal need for sea lice treatments. We are introducing better genetics and have made important process improvements in roe and smolt. The result is a more robust fish that grows better. We are also increasing the share of trout production, which historically has better biological performance, at Lerøy Sjøtroll.

These measures are crucial for fish welfare and are of great importance for our financial development. Due to reduced license capacity at Lerøy Sjøtroll (following the traffic light system), we have chosen to adjust the harvest target for Norway in 2025 to 200,000 GWT. We have confidence in further progress in VAP S&D, in line with increasingly better utilization of our unique value chain, concludes the CEO.

For inquiries, please contact CEO Henning Beltestad or CFO Sjur S. Malm.

ABOUT LERØY SEAFOOD GROUP

Lerøy Seafood Group is a global seafood group headquartered in Bergen. The company's approximately 6,000 employees annually handle between 350,000 and 400,000 tons of seafood through the company's value chain, equivalent to about 5 million meals every day. The group has a vertically integrated value chain for redfish and whitefish, as well as significant third-party product activity.

The Group's values, "open, honest, responsible, and creative," are the basis for the Group's total activities, and efforts are made towards the goal of creating the world's most efficient and sustainable seafood value chain. The target for annual return on capital employed (ROCE) is 18%. The group has set ambitious sustainability goals, including a 46% reduction in greenhouse gas emissions by 2030.

To ensure food safety for the consumer, we actively work in all stages of the value chain. As a fully integrated seafood supplier, we have the opportunity to control and quality-assure our products throughout the entire value chain. This way, we can meet the seafood market's increasingly stringent requirements for traceability, food safety, product quality, cost-effectiveness, sustainability, and continuous delivery.

Attachments

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Municipality Finance issues a EUR 75 million tap under its MTN programme20.5.2024 09:00:00 CEST | Press release

Municipality Finance Plc Stock exchange release 20 May 2024 at 10:00 am (EEST) Municipality Finance issues a EUR 75 million tap under its MTN programme On 21 May 2024 Municipality Finance Plc issues a new tranche in an amount of EUR 75 million to an existing benchmark issued on 26 April 2023. With the new tranche, the aggregate nominal amount of the benchmark is EUR 1.375 billion. The maturity date of the benchmark is 29 July 2030. The benchmark bears interest at a fixed rate of 3.125 % per annum. The new tranche is issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and final terms of the notes are available in English on the company's website at https://www.kuntarahoitus.fi/en/for-investors. MuniFin has applied for the new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 21 May 2024. The existing notes

DNA Plc: Changes in Executive Team20.5.2024 09:00:00 CEST | Press release

DNA PLC STOCK EXCHANGE RELEASE 20 MAY 2024 AT 10:00 DNA Plc’s SVP, Corporate Affairs (CCAO) and member of the Executive Team, Asta Rantanen, will retire effective 31 July. Master of Laws Vesa Vuoti has been appointed as her successor and member of DNA’s Executive Team as of 1 August. Vuoti has had a long career at DNA in a number of roles, most recently as VP, Legal and Regulatory Affairs. Previously, he has served as Director of Administration and Security, among others. Ph.D., CIO Sari Leppänen is appointed CTO for DNA. Since the beginning of May, she has temporarily managed that position alongside her own work after the previous CTO Ville Virtanen transferred to DNA’s parent company, Telenor. In addition to the new role, Leppänen will continue as the CIO for DNA. “I would like to thank Asta Rantanen for her great work at DNA over the past twenty years, first in several legal roles and later also as SVP of Corporate Affairs. Asta has developed DNA’s corporate governance policies rema

The subscription period for the warrants of series TO7 starts today, May 20, 202420.5.2024 08:30:00 CEST | Press release

Today, May 20, 2024, marks the commencement of the exercise period for subscription of warrants of series TO7 in Terranet AB (publ) (”Terranet” or the” Company”). The exercise period for warrants of series TO7 runs up until and including June 3, 2024. Each warrant gives the right to subscribe for one (1) new share of series B in the Company to the price of SEK 0.073 per share. The invested amount must be rounded up to two decimal places. For the warrants not to expire without value, the owner must actively subscribe for new shares no later than June 3, 2024, alternatively sell their warrants no later than May 29, 2024. Please observe that certain nominees might close their application period earlier than June 3, 2024. The letter to holders of warrants of series TO7 is available on the Company's website www.terranet.se. Summarized terms for the warrants of series TO7: Subscription period: May 20, 2024 – June 3, 2024. Issue size: 182,664,660 warrants of series TO7, which entitles to subs

Teckning av aktier med stöd av teckningsoptioner av serie TO7 inleds idag, 20 maj 202420.5.2024 08:30:00 CEST | Pressemelding

Idag, den 20 maj 2024, inleds nyttjandeperioden för teckningsoptioner av serie TO7 i Terranet AB (publ) (”Terranet” eller ”Bolaget”). Nyttjandeperioden pågår till och med den 3 juni 2024. Varje teckningsoption av serie TO7 berättigar innehavaren till teckning av en (1) ny B-aktie i Bolaget till ett pris om 0,073 SEK per aktie. Investerat belopp avrundas uppåt till två decimaler. För att teckningsoptionerna inte ska förfalla utan värde krävs att innehavaren aktivt tecknar aktier senast den 3 juni 2024, alternativt säljer teckningsoptionerna senast den 29 maj 2024. Observera att vissa förvaltare kan stänga anmälningsperioden före den 3 juni 2024. Brev till teckningsoptionsinnehavare av serie TO7 finns att tillgå från Bolagets webbplats på www.terranet.se. Sammanfattade villkor för teckningsoptionerna av serie TO7: Teckningsperiod: 20 maj 2024 – 3 juni 2024. Emissionsvolym: 182 664 660 teckningsoptioner av serie TO7 berättigar till teckning av 182 664 660 B-aktier. Vid fullt nyttjande til

LEADING EDGE MATERIALS APPOINTS KURT BUDGE AS CHIEF EXECUTIVE OFFICER20.5.2024 08:00:00 CEST | Press release

LEADING EDGE MATERIALS APPOINTS KURT BUDGE AS CHIEF EXECUTIVE OFFICER Vancouver, May 19, 2024 – Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) is pleased to announce the appointment of Mr. Kurt Budge as Chief Executive Officer. Chairman Lars-Eric Johansson noted: “The Board is very happy to welcome Kurt to the Company in the role as Chief Executive Officer given his considerable experience leading junior mining companies and especially his knowledge of working in Sweden. The Rare Earth Elements at Norra Kärr makes the project an obvious candidate as a Strategic Project as defined by the EU Critical Raw Materials Act and the Company is focused on applying for this designation. The Exploitation Concession application and environmental work for Norra Kärr are also key priorities. The Company has other Strategic Raw Materials in its portfolio, Natural Graphite at the established mine at Woxna in Swe

HiddenA line styled icon from Orion Icon Library.Eye