Lerøy Seafood Group ASA reported third-quarter 2026 harvested salmon and trout volumes of 54,680 GWT, down from 59,100 GWT a year earlier, while Lerøy Havfisk's total catch volumes fell to 10.2 thousand tonnes from 13.5 thousand tonnes. The simultaneous decline in both farmed and wild-catch output raises questions about how efficiently Lerøy's integrated value chain is performing across segments. The company is also exploring the issuance of NOK 750 million in senior unsecured green bonds, a move that underlines how capital intensive its push into new farming and shielding technologies has become. Lerøy's narrative projects NOK41.5 billion in revenue and NOK3.7 billion in earnings by 2029, requiring 6.4% yearly revenue growth and an earnings increase of about NOK2.7 billion from NOK1.0 billion today, with a NOK49.50 fair value implying 19% upside. Some of the lowest ranked analysts were already assuming revenue of about NOK46.5 billion and earnings near NOK3.2 billion by 2029, and the volume setback could either strengthen or challenge their more pessimistic focus on climate related farming and quota risks.
Leroy Seafood Group ASAQ3 harvested salmon/trout volumes fell to 54,680 GWT from 59,100 GWT and Havfisk catch dropped to 10.2k tonnes from 13.5k, a decline in the company's own production output.
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