SalMar ASA
SALM.OL
Kr.605.00 -0.49%
Exchange: OSL | Sector: Consumer Defensive | Industry: Agricultural Farm Products
Q1 2024
Published: Mar 31, 2024

Earnings Highlights

  • Revenue of $6.56B down 3.5% year-over-year
  • EPS of $6.22 decreased by 52.8% from previous year
  • Gross margin of 21.7%
  • Net income of 821.00M
  • ""We care about the fish, the people, the customers, the environment and the local community that we are a part of."" - Frode Arntsen
SALM.OL
SalMar ASA

Executive Summary

SalMar ASA faced a challenging first quarter of 2024 characterized by adverse weather conditions, jellyfish infestations, and high biological costs that impacted yield and pricing. The company's revenue for the quarter was reported at NOK 6.555 billion, marking a year-over-year decrease of 3.49%. Despite these obstacles, operational EBIT was NOK 1.512 billion due to robust pricing, although it represented a significant decrease of 646 million from the previous quarter. Management emphasized their ongoing commitment to improve operational performance and fish welfare amidst these challenges. SalMar maintains a solid financial position with guidance unchanged for production volumes throughout 2024, affirming its ability to navigate through turbulent conditions successfully.

Key Performance Indicators

Revenue
Decreasing
6.56B
QoQ: -18.26% | YoY: -3.49%
Gross Profit
Decreasing
1.42B
21.69% margin
QoQ: -30.46% | YoY: -60.40%
Operating Income
Increasing
1.62B
QoQ: -7.18% | YoY: 2.54%
Net Income
Decreasing
821.00M
QoQ: -37.70% | YoY: -52.65%
EPS
Decreasing
6.23
QoQ: -37.70% | YoY: -52.77%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q4 2024 7,876.00 7.60 -1.8% View
Q3 2024 6,122.00 2.16 -18.5% View
Q2 2024 5,838.00 6.50 -1.0% View
Q1 2024 6,555.00 6.22 -3.5% View
Q4 2023 8,019.00 10.00 +25.2% View