Måsøval reported a negative operational EBIT of MNOK -61 ($5.49 million/€5.19 million) for the third quarter of 2024, citing higher sea temperatures, sea lice pressure, and outbreaks of infectious salmon anemia (ISA) as key challenges.
These factors led to elevated costs and reduced harvest performance, according to the company’s Q3 report released this morning.
Group CEO Helge Kvalvik described the quarter as “challenging,” attributing the negative results to adverse biological conditions and operational costs.
“Higher sea temperatures led to significant sea lice pressure, which hampered growth and raised delousing costs. Additionally, ISA at two sites forced us to harvest salmon with low weights, leading to high costs and lower prices,” Kvalvik noted.
The Sales & Processing segment also reported negative results, driven largely by start-up costs at the TL52 harvesting facility in Hitra.
Despite the difficulties, Måsøval highlighted improvements in Region West, where better biological performance resulted in lower costs, higher proportions of superior-grade fish, and increased harvest weights. Kvalvik noted that these insights will inform the company’s strategy moving forward.
The company reiterated its full-year 2024 harvest guidance of 24,700–25,700 gutted weight tonnes (GWT).
For 2025, Måsøval projects an increase in activity, targeting a harvest of 29,000–31,000 GWT.
The full Q3 report and presentation are available on Måsøval’s website.
