Grieg Seafood delivered a solid Q3, a trend that is set to continue into Q4e due to high contract coverage (67% at an estimated NOK 88/sh) and lower farming cost/kg as the suboptimal sites were harvested out in Q3. The positive revisions to Q4 increases 2025 EBIT by 5% to NOK 403m. The company is set to distribute NOK ~4bn in dividends following closing of the transaction with Cermaq and repayment of its hybrid bonds. We believe the latter will occur in Q1 as GSF shows its wish for a quick proce ....
