SalMar ASA
SALM.OL
Kr.605.00 -0.49%
Exchange: OSL | Sector: Consumer Defensive | Industry: Agricultural Farm Products
Q3 2024
Published: Sep 30, 2024

Earnings Highlights

  • Revenue of $6.12B down 18.5% year-over-year
  • EPS of $2.16 decreased by 54.3% from previous year
  • Gross margin of 53.5%
  • Net income of 285.00M
  • ""We have been through a challenging period, particularly related to ripple effects of jellyfish, high sea temperatures and high lice levels."" - Frode Arntsen
SALM.OL
SalMar ASA

Executive Summary

SalMar ASA's Q3 2024 results reflect a resilient response to significant biological challenges, notably jellyfish blooms, high seawater temperatures, and sea lice pressures. The company reported a revenue of NOK 6.1 billion, despite a year-over-year decline of 18.5%. Profitability faced substantial pressure, with net income plummeting to NOK 285 million, a staggering decrease of 71.4% compared to the previous year. Management highlighted the necessity for operational adaptability ensuring fish welfare while navigating a complex external environment. Forward-looking statements indicate a cautious optimism, with a focus on volume recovery and strategic acquisitions to bolster future growth.

Key Performance Indicators

Revenue
Decreasing
6.12B
QoQ: 4.86% | YoY: -18.50%
Gross Profit
Decreasing
3.28B
53.53% margin
QoQ: 135.25% | YoY: -31.05%
Operating Income
Decreasing
1.18B
QoQ: -28.86% | YoY: -55.56%
Net Income
Decreasing
285.00M
QoQ: -66.78% | YoY: -71.36%
EPS
Decreasing
2.20
QoQ: -66.15% | YoY: -54.26%

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