Leroy Seafood Group (LYSFF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Leroy Sifo Group's first quarter presentation 2026. My name is Henning Beltsa, I'm a CEO in Leroy Sifo Group and with me today I have Kyr Malm, CFO. First of all, I will take you through the highlights and also give you a short strategy and targets update. And then Shuman will take you through the key financial highlights. And then I will come back and take you through some outlook for going forward. First of all, Lerøy Seafood Group is a leading global provider of high-quality seafood with a long history, reaching back all to 1899. We have 6,000 employees, 34 billion knock-in turnover, and had last year an operational EBIT of 2.5 billion. We catch close to 60,000 tons of whitefish, 195,000 tons production of salmon and trout, and had a WAP processing volume of 340,000 tons. We are a global company. Our goal is to create the world's most efficient and sustainable value chain for seafood and we are continuing improving our value chain and getting into new markets around the world. Leroy is a unique company, integrated both in redfish and in whitefish, and we have invested heavily the last 20 to 25 years. Our values are open, honest, responsible, and creative. And then highlights of the quarter. It's been a quarter with a strong biological development in farming. First quarter we harvested close to 40,000 tonnes compared to 38,000 tonnes last year. We have increased expectation for profitability in wildcatch after a good quarter. There has been some pressure on gross margins in some units in WAP sales and distribution and we keep our harvest guidance of 195,000 ton in Norway and the board proposed NOC 2.5 per share as dividend for 2025. We achieved operational EBIT of 858 million NOC compared to 1 billion and 50 million NOC in first quarter 2025. So a fairly...