SalMar has also reported an uptick in annual cost savings following the integration of NTS, NRS, and SalmoNor.
The world’s second largest producer of farmed salmon, SalMar has projected a 33 percent surge in total harvest volume for the upcoming year.
Harvest volumes for 2023 are now expected to reach 362,000 metric tons, up from the anticipated 273,000 tons, the company announced in a stock exchange announcement on Wednesday.
The merger between SalMar and Norway Royal Salmon (NRS) was finalised in November 2022, with SalMar acquiring all outstanding shares in NTS, which owns NRS.
Following the integration of NTS, NRS, and SalmoNor, SalMar has also reported an uptick in annual cost savings. The savings have grown from NOK 671 million (€58 million) to NOK 844 million (€73 million), with 71 percent of that amount being realised as of August 2023.
As well as operating farming operations across Norway and Iceland, SalMar also holds a 50 percent stake in Scottish Sea Farms.
In 2021, SalMar entered a partnership with industrial giant Aker to establish and eventually take public a new offshore aquaculture company, SalMar Aker Ocean.