A salmon farming pioneer entering the digital era. Andreas Kvame, CEO

Transcription

1 A salmon farming pioneer entering the digital era Andreas Kvame, CEO

2 25 years of salmon farming Scandic Marine Ltd acquired - GSF BC established in British Columbia Listed on the Oslo Stock Exchange Acquisition of Hjaltland Ltd in Shetland and Target Marine Ltd in Sechelt BC Further acquisitions completed on Shetland between 2008 and 2011 First step of smolt self-sufficiency strategy completed with RAS I in Rogaland Significant expansion of smolt facilities completed or in progress in all regions between 2011 and years of operation Aim to take a leading role in digital salmon farming to make better and more sustainable decisions Future Establishment of Grieg Norwegian Salmon (trading company) and Bioinvest (salmon farm investor) Merger with Volden Group in Finnmark Establishment of sales organization, Ocean Quality AS in cooperation with Bremnes Seashore (GSF ownership 60%, Bremnes 40%) Allocated 4 green licenses in Finnmark - An important step towards our ambition to sustainably farm the ocean. Rooted in nature - farming the ocean for a better future

3 Combining people, nature and technology

4 Our value chain Grieg Seafood presence Fish feed Customers Smolt production Farming Primary processing Value added processing Sales and distribution Breeding and genetics Brood activity in Erfjord in Rogaland Current annual capacity of tonnes smolt 63 grow-out sites tonnes of salmon harvested in % ownership in sales company Ocean Quality meals per day worldwide Ensuring safe and healthy food throughout the value chain Quality criteria for feed Traceability through Fishtalk Preventive health measures and treatment Traceability through Fishtalk GLOBALG.A.P. certification Preventive hygienic and quality measures Traceability through Fishtalk and Maritech GLOBALG.A.P. certification Risk assessments and preventive measures Standards for transport and storage ASC chain and custody Communication about approach GKLOBALG.A.P. certification Register, follow-up and feedback Approved HACCP system Food safety authority monitors residue Substances in fish GLOBALG.A.P. certification 7

5 Grieg Seafood footprint Grieg Seafood regions Head quarter Sales offices Bømlo Finnmark Shetland Manchester Bergen Rogaland British Columbia USA Lisboa Bejing Guiding 2018 Total capacity % 16% 9% 18% 4% 3% Rogaland Finnmark BC Shetland Harvest volume and capacity (1 000 tonnes GWT) EU Great Britain US Asia Eastern Europe Canada 2017 revenue by market 8

6 Long-term operational and financial development Harvest volume (1 000 GWT) Revenues and EBIT/kg (NOK million and NOK/kg)

7 Providing the world with salmon We provide meals per day worldwide 10

8 Strong market fundamentals World fish utilization and apparent consumption Fish utilization (million tonnes) Population (billions) and apparent consumption (kg/capita) World capture fisheries and aquaculture production Million tonnes (WFE) Non-food uses Food Apparent consumption Population Capture production Aquaculture production Note: Excludes aquatic mammals, crocodiles, alligators and caimans, seaweeds and other aquatic plants Sources: FAO (2018) World Fisheries and Aquaculture, Kontali Analyse 11

9 Grieg Seafood is the world s eight largest salmon producer The world s 15 largest salmon* producers Tonnes harvest 2017 (WFE) Marine Harvest** Agrosuper*** Lerøy Seafood Group**** Cermaq SalMar**** Cooke Aquaculture Multiexport Grieg Seafood Australis Bakkafrost Nordlaks Nova Sea** Norway Royal Salmon Scottish Sea Farms**** Pesquera Camanchaca million tonnes of salmon produced annually by the world s salmon farmers *Atlantic Salmon, Coho, Trout, Chinnok, **Marine Harvest has 48% ownership in Nova Sea ***Aqua Chile, Salmones Magellanes, Los Fiordos and Friosur merged in 2018 ****Scottish Sea Farms owned 50/50 by Lerøy Seafood and Salmar Source: Kontali Analyse 12

10 Salmon farmers serve a global market Norway, Faroe Islands Harvest: Consumption: Harvest: Consumption: EU North America To Asia Russia Harvest (UK/Ireland): Consumption: Harvest: Consumption: From North America Japan China & Hong Kong Harvest: 0 Consumption: Harvest: 0 Consumption: From Chile To Asia Brazil Chile Harvest: Consumption: Source: Kontali Analyse figures. Harvest: 0 Consumption: Australia Harvest (2016): Consumption:

11 Significant potential in underdeveloped markets Tonnes Taiwan Chile Thailand Belgium South Korea Poland Finland Israel Vietnam Norway Netherlands Australia Canada Sweden Japan Russia Spain Italy Brazil China/Hong Kong UK France Germany USA Market size 2017 (tonnes WFE) Per capita consumption (kg WFE) Source: Kontali Analyse 14

12 Supply impacted by biological challenges Harvested tonnes (WFE) In million E 2019 E ISA virus in Chile Recovery in Chile Sanitary issues in Norway Traffic light system in Norway regulating salmon production Algae bloom and a plummeting smolt release in Chile License limitations in Chile Sources: Kontali Analyse, EY, The Norwegian Aquaculture analysis

13 Photo: Eilert Munch