SalMar ASA (SALM) Earnings Call Transcripts
SalMar ASA's Latest Earnings Call - Q1 FY2026
In the first quarter of 2026, SalMar ASA reported strong operational results driven by record biological performance and increased harvest volumes. Revenue reached NOK 1,512 million, with an adjusted earnings per share of NOK 5.9, reflecting a significant year-on-year improvement. Management raised the 2026 volume guidance by 12,000 tons to a total of 330,000 tons, indicating a 10% growth compared to 2025, which could positively impact stock performance moving forward.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | NOK 1,512 million (miss) |
| Operational EBIT | NOK 1,512 million (miss) |
| Adjusted EPS | NOK 5.9 (positive) |
| Harvest Volume | 60,300 tons (positive) |
| Cost per Kilo | NOK 25.1 (inline) |
| Net Interest-Bearing Debt | NOK 20.3 billion (positive) |
Guidance from management
Management expects stable costs in Q2 with a potential decrease in the second half of the year. The total harvest volume guidance for 2026 has been raised to 330,000 tons, reflecting strong biological performance.
What analysts pressed on
Analysts expressed concerns regarding the impact of the InnovaMar upgrade on capacity utilization and overall profitability. There were also questions about the biological challenges faced in Iceland and Scotland, which could affect future results.
Main topics on the call
- Record Biological Performance — SalMar achieved historically strong biological metrics, with mortality rates 52% lower and growth rates 31% higher than the 10-year average. CEO Frode Arntsen emphasized, "We are now back to a more normal salmon cycle, w...
- Increased Volume Guidance — Management raised the 2026 volume guidance by 12,000 tons to 330,000 tons, reflecting strong biological performance and increased capacity. This was described as "growth we have already realized so far in 2026," indicati...
- Operational EBIT Performance — Operational EBIT for the quarter was NOK 1,512 million, down from NOK 1,834 million in Q4 2025, primarily due to seasonal lower volumes. However, EBIT per kilo improved by NOK 3.3 per kilo, demonstrating resilience in pr...
- Cost Management — Costs remained stable across the value chain, with expectations for a decrease in the second half of the year. CFO Ulrik Steinvik noted, "We expect costs in mid to increase somewhat in the second quarter," but overall st...
Read the full SalMar ASA transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About SalMar ASA
SalMar ASA (SALM) is a publicly listed company in the Food Products industry, within the Consumer Staples sector. It trades on OB and is based in NO. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 34 calls on record spanning February 26, 2020 to May 20, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 34 SalMar ASA earnings call transcripts on record, spanning February 26, 2020 to May 20, 2026. Based on this history, SalMar ASA reports quarterly. The most recent call on file is dated May 20, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- SALM
- Exchange
- OB
- Country
- NO
- Sector
- Consumer Staples
- Industry
- Food Products
- Calls on record
- 34
- First call
- February 26, 2020
- Most recent
- May 20, 2026
- Reporting cadence
- quarterly