Grieg Seafood

We are looking forward to Intrafish International Salmon Week 2024 where the spotlight will be on the global salmon industry. We are pleased to announce that our CEO, Andreas Kvame will participate on the 5th of December as part of the North America panel.  This is a digital event, more information and registration here: https://lnkd.in/dpvJrVeZ #IntraFishEvents 

Today we presented the third quarter of 2024. Big thanks to colleagues for their efforts and hard work! Highlights:  - Harvest volume of 17,806 tonnes (12,245 tonnes) - Operational EBIT in the quarter of NOK -175 million (NOK -86 million), with operational EBIT/kg of NOK -9.8 (-7.0). Operational EBIT from Farming Norway of NOK 69 million while NOK -218 million from BC due to algae bloom and low DO (dissolved oxygen) - All-time high production in Norway and MAB (maximum allowable biomass) fully utilized at quarter end - biomass in Finnmark rebuilt post-Spiro - Process to identify long-term partners to take part in the development of Canadian operations is progressing. - Established NOK 750 million bridge loan facility to maintain financial flexibility. Read the full report and watch the presentation here: https://lnkd.in/dK-Pksgj  

Nofima’s yearly report on value creation and ripple effects in our industry states that last year was a record year for the Norwegian Seafood industry. The total value creation and ripple effects were NOK 139 billion. Close to 100 000 people are employed directly or indirectly in the industry. Read more here:

Every year, a cooking class for children is arranged by Grieg Seafood Rogaland during the Tomato Festival. Frode Selvaag, also known as The Ryfylke chef (Ryfylkekokken AS) teaches over 50 children aged 8-14 in the region. Frode is passionate about the importance of including children in planning and preparation of family meals. We spoke to him about how fish is the healthy fast food, and how fish meals easily can be included on the weekly menu. The Ryfylke chef is very clear about what advice he wants to give families in a busy everyday life. - Family meals must be given a more central role in the weekly planning. Then you can make smarter purchases and make good use of the raw materials. Include the children in the planning, when they get to participate it is easier to get them to eat what’s on the plate. For more good advice, read here. 

To ensure the health of our planet and society, Grieg Seafood aims to reduce its carbon emissions significantly in the coming years. This week we have updated our climate target to be in line with the 1,5 degrees Paris Agreement. By the end of 2024, we must report in line with the EUs Corporate Sustainable Reporting Directive. This directive challenges companies to provide a low carbon transition plan in line with this target. By this strategic change, we show our commitment to a sustainable aquaculture industry today, and in the future. Read more here: 

Yesterday, we presented the second quarter of 2024. Big thanks to all colleagues for their efforts and hard work!    Highlights:  ·       Harvest volume of 15,272 tonnes (22,645 tonnes). ·       Operational EBIT in the quarter of NOK -35 million (NOK 547 million), with operational EBIT/kg of NOK -2.3 (24.2). ·       Spiro impacted generation in Finnmark has been fully harvested in July 2024, after the balance sheet date. ·       Underlying production in Norway has been good towards the end of the quarter and into Q3. ·       Construction of post-smolt facilities in Rogaland, Finnmark and Newfoundland, and VAP facility at Gardermoen, are ongoing. Biomass investments on plan. ·       Process to identify long-term partners to take part in the development of Canadian operations is ongoing – expected conclusion during autumn 2024. ·       97% of the harvested volume in the quarter ASC certified.   Read the full report and watch the presentation here:  https://lnkd.in/dfiXXT3

Arendalsuka: Next week Grieg Seafood has the pleasure of hosting a panel together with Stiim Aqua Cluster, Sjømat Norge, Bremnes Seashore and Innkva Klynge on the Aquaculture industry and nature risk with the title: En oppdrettsnæring som ikke skader naturen - hvordan får vi det til?   Please join us on Rygerelektra Wednesday 14th August at 16.30-17.30 More on the event here: https://lnkd.in/dmWQCV7K

We are excited to announce that Magnus Johannesen will join Grieg Seafood ASA as our new Global Finance Officer on October 1st, 2024. In this crucial role, Magnus will further develop our finance group and support the CFO in financial and business decision-making.   Magnus will establish direction and strategy, ensuring alignment with our business objectives while building a high-performing team focused on performance management and talent development. Additionally, Magnus will support various business areas with forecasts, analysis, and performance data, ensuring the highest quality of our budget processes. "As the CFO of Grieg Seafood, I am confident that Magnus's extensive experience and leadership will drive continued growth and excellence within our organization. His insights and strategic approach will be invaluable as we navigate future opportunities in the seafood industry, states — Atle Harald Sandtorv, CFO of Grieg Seafood.   Magnus's current role is as the Group Chief Investment Officer at Frydenbø Group AS, overseeing capital efficiency, M&A processes, and strategic initiatives across various divisions. Additionally, he served as General Manager for Frydenfalch, a joint venture focused on industrial real estate investment. The portfolios combined were approximately 5 billion NOK in assets under management. Before joining Grieg Seafood ASA, Magnus served as the Interim Chief Financial Officer at Rexir Holding AS. During his time there, he successfully managed the real estate portfolio. He steered asset allocation during a critical strategic phase. Magnus also brings extensive experience as a specialist consultant and external advisor at McKinsey & Company, where he guided financial institutions on internal audit and global-scale risk management.   "I am eager to join the Grieg Seafood team and contribute to shaping one of Norway's most important future industries. I look forward to getting to know and collaborating with the talented team and participating in exciting projects ahead. Grieg Seafood's values resonate strongly with my own, and it is gratifying to join a company that is a leader in sustainable aquaculture." — Magnus Johannesen   We are confident that Magnus's leadership and expertise will significantly benefit Grieg Seafood as we continue to strengthen our financial strategies and pursue growth. Fotocredit: Trude Brun Wilhelmsen

We are excited to announce the appointment of Kristian B. Matthiasson, who will start as the factory manager for Grieg Seafood's upcoming processing plant at Gardermoen. Kristian brings a wealth of experience to his new role. He previously served as CEO of Arnalax, a leading seafood company, and was also one of its founders. His experience as the managing director of Leines Seafood, a processing company that primarily produced frozen portions for Aldi, has equipped him with the necessary skills and knowledge to lead our upcoming processing plant at Gardermoen. In this pivotal role, Kristian will develop our organization and optimize operations to drive excellence. Focusing on strategic goals, he will be a crucial catalyst for identifying and implementing initiatives to contribute to our factory's success. "I look forward to starting as General Manager at Grieg's state-of-the-art processing plant at Gardermoen, says Kristian. The production of salmon has always been close to my heart, and I look forward to becoming part of the Grieg family. At the new factory in Gardermoen, we should have every opportunity to produce safe and high-quality products in a sustainable, efficient, and reliable manner. There is much to be done before we receive our first fish in the fall of 2025, and I am excited to take on this work." Kristian brings expertise and a solid vision to drive our organization forward. Our Chief Commercial Officer, Erik Holvik, states, "I am thrilled that Kristian, with his extensive expertise and valuable experience in the seafood industry, will be a crucial player in our VAP project. His leadership and vision will be instrumental in the project's success, and we are excited to have him on board."

The Taskforce on Nature-related Financial Disclosures (TNFD) has released The Additional Sector Guidance for Aquaculture. We are proud to have been included in the work leading up to this release. More information here: https://lnkd.in/g7DWuBCs