26 companies on the Oslo Stock Exchange: €36.8 billion in salmon shares

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Here is the list.

At the turn of the millennium, only three companies involved with salmon were listed on the Oslo Stock Exchange: Pan Fish, Fjord Seafood and Domstein. Today, none of these names appear. But new ones have arrived. The sector has now grown to 26 companies with a total market capitalization of NOK 368 billion (€36.8 billion). All of these are engaged in the business, to a greater or lesser degree, of salmon.

This makes the Oslo Stock Exchange the world’s undisputed most important fish exchange.

And it is not just salmon that can be traded on the stock exchange. In addition to these, there are farmers of cod, barramundi and kingfish – which are not included in this overview.

Lerøy. Photo: Ronny Teigås

Big fish
By far the largest player is the 450,000-tonne Mowi, with a market capitalization of NOK 115 billion (€11.5 billion), followed by SalMar, NOK 69 billion (€6.9 billion), and Lerøy of NOK 43.6 billion (€4.3 billion).

The list is dominated by straight salmon farmers, and most are Norwegian. But in fourth place, just after Lerøy, is the Faroese company, Bakkafrost – which also owns The Scottish Salmon Company. A total of six of the companies come from countries other than Norway.

The largest player that is not a straight salmon farmer is the fishing conglomerate Austevoll Seafood. Its most important and valuable asset, however, is its controlling stake in Lerøy.

Photo: Rune Ottarsen

Fragmented
The stock market runaway train BEWI, provider of packaging, components and insulation solutions, is gaining ground among all salmon farmers, ahead of Norway Royal Salmon, with a market capitalization of NOK 8.2 billion (€800 million).

As is Helge Gåsø’s service company Frøy, with a value of NOK 4.4 billion (€440 million).

Otherwise, two biotech companies, an equipment manufacturer, seven land-based fish farmers (including a smolt producer), a krill company (supplier of fish feed) and a well boat-building shipyard are on the list.

Company name Business market cap in billions of euros Country
Mowi Salmon farming 11.5 Norway
SalMar Salmon farming 6.9 Norway
Lerøy Salmon farming 4.4 Norway
Bakkafrost Salmon farming 4.2 The Faroe Islands
Austevoll Seafood Fishing and salmon farming 2.1 Norway
NTS Salmon farming 1.3 Norway
Grieg Seafood Salmon farming 0.94 Norway
BEWI Packaging 0.82 Norway
Norway Royal Salmon Salmon farming 0.76 Norway
Frøy Service and wellboat company 0.44 Norway
Måsøval Salmon farming 0.44 Norway
Icelandic Salmon Salmon farming 0.43 Iceland
Aker BioMarine Catch of krill 0.42 Norway
Atlantic Sapphire Land-based salmon farmer 0.34 Norway
AKVA group Equipment supplier 0.30 Norway
Salmones Camanchaca Salmon farming 0.26 Chile
Ice Fish Farm Salmon farming 0.24 Iceland
Salmon Evolution Land-based salmon farmer 0.23 Norway
Hofseth BioCare Biotech 0.23 Norway
Arctic Fish Holding Salmon farming 0.20 Iceland
Andfjord Salmon Land-based salmon farmer 0.14 Norway
Nordic Aqua Partners Land-based salmon farmer 0.06 Denmark
Gigante Salmon Land-based salmon farmer 0.05 Norway
Aqua Bio Technology Biotech 0.03 Norway
Proximar Seafood Land-based salmon farmer 0.03 Norway
Havyard Group Shipyard 0.03 Norway
BioFish Smolt producer 0.02 Norway