Måsøval is a fin company, but as all other salmon farmer’s it needs a higher salmon price than the current spot price to avoid negative estimate revisions. Final harvest of the challenging spring 24 generation is coming to an end in Q2, resulting in lower costs in 2H. We had previously anticipated a sharper drop, which along with slightly lower harvest volumes and mark-to-market of salmon prices for Q2 leaves our 2025 EBIT 16% lower at NOK 170m. We see a sound case for the equity in 2026 and onw ....
