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The latest update is out from Grieg Seafood ASA ( (GRGSF) ).
Grieg Seafood ASA announced a transformation program to focus on profitable growth in Norway while significantly reducing growth ambitions and investment levels in Canada. This strategic shift aims to strengthen the company’s financial and organizational foundation, with the issuance of a hybrid bond and sale-leaseback agreements as key financial initiatives. The company anticipates a 14% growth in harvest volumes in Norway by 2025, but a 5% decline in Canada due to reduced growth outlooks. Recognizing impairments of NOK 1.7 billion related to Canadian operations, Grieg Seafood is taking steps to enhance its financial flexibility and operational efficiency, despite facing an operational EBIT loss of NOK 74 million in Q4 2023.
More about Grieg Seafood ASA
Grieg Seafood ASA is a leading global salmon farming company with operations in Finnmark and Rogaland in Norway, and British Columbia and Newfoundland in Canada. Headquartered in Bergen, Norway, the company emphasizes sustainable farming practices to ensure minimal environmental impact and optimal fish welfare, aligning ethical responsibility with economic profitability. Grieg Seafood has been listed on the Oslo Stock Exchange since June 2007.
YTD Price Performance: 9.07%
Average Trading Volume: 2,800
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $670.9M
For detailed information about GRGSF stock, go to TipRanks’ Stock Analysis page.
