The company is hosting a Capital Markets Day under the headline “Farming the ocean for a better future”
Grieg Seafood has listed its ambitions for 2022 and 2026 during Capital Markets Day under the headline “Farming the ocean for a better future”. The target of annual harvest volume is 90,000 tonnes for 2022 and 120-135,000 for 2026. This depends on the successful utilization of current capacity, available expansion opportunities, and new concepts.
The company confirmed in a press release is now building a platform for further sustainable growth beyond 2026 on the east coast of Canada. Moreover, Newfoundland will represent the company’s new growth area.
Besides, it aims to give shareholders a competitive return on invested capital. Through dividend payments and appreciation in the value of the share. Similar to other companies with comparable risk.
Any future dividend will depend on Grieg Seafood’s future earnings, financial situation, and cash flow. The dividend should ensure that equity remains at a healthy and optimal level. Also, keep pace with the Group’s profit growth.
Finally, the Board’s role is to ensure that there are adequate financial resources for future growth and investment. It should meet too the desire to minimize capital costs.
Cost improvement and value-added processing
As another ambition, Grieg Seafood will focus on cost improvement. Thereby, the post-smolt will improve biology, fish welfare, and growth. Preventative measures and further digitalization through precision farming will work in the same direction.
Furthermore, the stabilization of the group earnings will be allowed through optimization of collaboration, value-added processing, and brand development together with strategic partners.
Regarding all this CEO Andreas Kvame commented: “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.”