Witzoe earned €270m in 2016 – costs still a constant worry

News
3131

Dealing with salmon lice is a real headache and bumps up costs for Gustav Witzoe’s holding company Kvarv, according to the news service Adressa.

The majority owner of SalMar told the news service that the lice problem must be dealt with.

“It’s not just a concern for our company, but the entire industry. Costs are rising at a rate of knots, and the number one job is to gain control over them,” he said.

Focus on biology
Even though the result of €270m in 2016 is an improvement on 2015 for the seafood titan, it is the way costs are growing that worries Witzoe.

Salmon prices, according to Witzoe, are what they are, and so the company is now concentrating on the biological aspect.

Witzoe owns 97 percent of Kvarv. Investment is administered through the subsidiary Kverva, which has a holding of 53.4 percent of the shares in SalMar.

New products to be developed
The group also includes the seafood company Insula, which through its subsidiaries produces and sells seafood products.

Witzoe believes there is unexploited potential in the sale of edible fish products, and is keen to develop new offerings in this area.

In his opinion the choice of products in supermarkets is very limited.