Måsøval posts mixed Q4 results as lice pressure impacts margins
Måsøval has reported its fourth-quarter and full-year 2024 preliminary results, citing high lice pressure in Region Mid as a key factor in margin declines.
The group harvested 5,802 tonnes in Q4, including 1,076 tonnes from commercial co-location agreements, bringing its total 2024 harvest volume to 25,058 tonnes.
Operational EBIT for the quarter was NOK 3 million, or NOK 0.7 per kilo, with Region Mid posting a negative margin of NOK -3.3 per kilo. The region had strong results in the first half, but faced exceptionally high lice pressure in the second half, affecting profitability. In contrast, Region West saw a significant improvement, with margins rising from NOK 8.2 per kilo in Q4 2023 to NOK 17.6 per kilo in Q4 2024.
“Region Mid is below expectations, while Q4 marked another step forward in the West,” said Måsøval CEO Helge Kvalvik.
Sales and processing loss
Måsøval’s sales and processing division reported a negative result of NOK 13.7 million, which Kvalvik attributed to integration costs linked to establishing a wholly owned sales department and ramp-up costs at the TL52 harvesting plant.
For the full year, operational EBIT per kilo across the value chain was NOK 16.3, down from NOK 19.2 in 2023.
“2024 was another key year for our growth. Since 2017, we have increased harvest volumes every year, while also optimising our value chain and expanding harvesting capacity. In 2025, we expect to increase volumes further and maintain our guidance of 29,000–31,000 tonnes,” said Kvalvik.
No dividend decision
The board has not yet announced any dividend for the 2024 financial year.
Måsøval CEO Helge Kvalvik and CFO Anders Hagestande will present the results in Norwegian at 08:00 CET at Auditorium H2, Haakon VIIs gate 2, Vika, with a live stream available here.
