Capital Markets Day 2022

Short-term and long-term targets reaffirmed and sustainable growth platform beyond 2026 well established.

Grieg Seafood today confirmed its growth ambitions with a target of annual harvest volume of 90 000 tonnes in 2022 and 120-135 000 tonnes in 2026 depending on successful utilization of current capacity, available expansion opportunities and new concepts. Newfoundland represents the company's new growth area and Grieg Seafood is today building a platform for further sustainable growth beyond 2026 on the east coast of Canada.

Grieg Seafood's operational and financial targets presented at the capital markets day today are:

  • Harvest volume of 90 000 tonnes in 2022: Increasing harvest volumes to 120-135 000 tonnes in 2026
  • Maintain a clear ambition to be a cost leader in all the regions where Grieg Seafood operates
  • A long-term target of net interest-bearing debt to harvest volume ratio of NOK 30/kg
  • An equity ratio of above 31%
  • Requirement of a minimum of 12% return on capital employed (ROCE) for all investment decisions
  • Dividend policy to distribute 30%-40% of the Group's net profit after tax adjusted for fair value appraisals

Commenting on Grieg Seafood's capital markets day, CEO Andreas Kvame, said:

“Grieg Seafood has succeeded in delivering on our ambitions communicated on our latest capital markets update despite the fact that the past couple of years have been rife with upheaval. Today, sustainability is a core tenet of Grieg Seafood’s strategy and the three pillars; global growth, cost improvement and value chain repositioning remain our focus areas.

Going forward, we are ready to use our existing business in Norway and British Columbia together with our new growth platform in Newfoundland to bring Grieg Seafood to the next level. Based on our long experience and strong expertise and highly skilled employees, I am convinced this will be a journey worth being a part of.”

Watch the Capital Markets Day here

Download the presentations here:

Introduction and strategy update (Andreas Kvame) – ​available here

Sales & market (Erik Holvik) – available here

Digitalization (Trond Kathenes) – available here

Farming Rogaland (Nina Grieg) – available here

Farming Finnmark (Berit Seljestokken) – available here

Farming British Columbia (Rocky Boschman) – available here

Farming Newfoundland (Knut Skeidsvoll) – available here

Financials (Atle Harald Sandtorv) – available here

Sustainability initiatives and R&D (Kristina Furnes & Ragna Heggebø) – available here