Lerøy Seafood Group ASA (LYSFF) Q3 2023 Earnings Call Transcript


Lerøy Seafood Group ASA (OTCPK:LYSFF) Q3 2023 Earnings Conference Call November 15, 2023 6:00 AM ET

Company Participants

Henning Beltestad – Chief Executive Officer

Sjur Malm – Chief Financial Officer

Henning Beltestad

Welcome to Lerøy Seafood Group’s third quarter presentation, 2023. And my name is Henning Beltestad, CEO of Lerøy Seafood Group. And with me today, I have CFO, Sjur Malm.

First of all, I will repeat, our goal is to create the world’s most efficient and sustainable value chain for seafood. We are both fully integrated in redfish and whitefish, and have a unique position to develop the value chain and develop the markets in different regions. Our target for 2025, and beyond, is to increase the turnover to NOK 50 billion in 2030, reduce our total emission of 46% within 2030, to be the number one company in EBIT of the value chain of salmon, and Wild Catch EBIT of NOK 500 million, and to have EBIT of NOK 1.25 billion within 2025 in VAP, Sales and Distribution, and a Farming volume of 205,000 tonnes.

If we start a little bit about sustainability, to create the world’s most sustainable value chain for seafood is extremely important for us as a company. And if we look at the Coller FAIRR sustainability ranking, among 60 producer of protein in the world, we see that we are ranked now as number two as Mowi. And also, we see that there are four companies from Norway in the top 10 ranking. And that really means that this industry are doing the right things, and developing the industry in a sustainable way. And we can also see that we are the company that has the largest improvements from last year. And we are very satisfied by that.

Also, cutting CO2 emissions, we also see, in Norway, we



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