Salmon exporter Seaborn increases full-year profit by 80 per cent

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Sales-driven growth delivers a profit.

The Bergen-based (Norway), exporter saw sales increase by 30 per cent, to EUR 523 million, from 2018 to 2019. This, in turn, helped to increase last year’s operating profit to EUR 7 million – up from EUR 4 million in 2018.

Seaborn’s owners share a dividend of EUR 1.5 million, in effect unchanged from the previous year, according to the company’s annual report.

The largest owners of the salmon and trout exporter are Bru Eigedom (25 per cent), owned by the Vassbotten family, and Yri Holding (18.8 per cent), owned by Vice President Frank Yri. Next follows a cobble of salmon farming companies, including Osland Havbruk, SalmoNor, Eidsfjord Sjøfarm, Drageid Laks, Flokenes Fiskefarm, Invilaks, Marø Havbruk, E. Karstensen Fiskeoppdrett, Nordlaks and Mortenlaks.

At the end of the year, Seaborn had a book equity of EUR 17.7 million, out of a total balance of EUR 88.2 million.

Chairman Alex Vassbotten has not yet responded to SalmonBusiness’ request for a comment.