SalMar ASA
SALM.OL
Kr.605.00 -0.49%
Exchange: OSL | Sector: Consumer Defensive | Industry: Agricultural Farm Products
Q4 2023
Published: Dec 31, 2023

Earnings Highlights

  • Revenue of $8.02B up 25.2% year-over-year
  • EPS of $10.00 increased by 814.3% from previous year
  • Gross margin of 25.5%
  • Net income of 1.32B
  • ""Our people put in an enormous effort when such events occur... as CEO, I am proud of this, and it shows what resides within us."" - Frode Arntsen
SALM.OL
SalMar ASA

Executive Summary

In the fourth quarter of 2023, SalMar ASA reported significant financial results with a total revenue of NOK 8.02 billion, marking a 25.2% year-over-year growth, driven by record-high harvest volumes despite challenges such as jellyfish impacts in Northern Norway and biotic stress in Iceland. The net income surged to NOK 1.32 billion, a substantial turnaround compared to the same quarter last year and year-to-date earnings show impressive growth largely attributed to strategic acquisitions and operational efficiency improvements. Management is optimistic about continuing this positive trend into 2024, projecting a reduced yet robust harvest guidance, addressing operational challenges while maintaining strong pricing and demand for salmon in global markets.

Key Performance Indicators

Revenue
Increasing
8.02B
QoQ: 6.75% | YoY: 25.19%
Gross Profit
Increasing
2.05B
25.50% margin
QoQ: -56.97% | YoY: 24.02%
Operating Income
Increasing
1.74B
QoQ: -34.36% | YoY: 537.83%
Net Income
Increasing
1.32B
QoQ: 32.44% | YoY: 844.65%
EPS
Increasing
10.00
QoQ: 107.90% | YoY: 814.29%

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