Leroy Seafood Group (LYSFF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Lehre Civic Group's second quarter presentation 2025. My name is Henning Beltsaar, I'm CEO in the company and with me today I have Kjur Malm CFO. First of all, I will take you through the highlights in the quarter and then Kjur will take you through the key financial highlights and then I will come back and talk a little bit about the outlook going forward. Our goal is to create the world's most efficient and sustainable value chain for seafood and we are very proud of the value chain that we have developed and this gives us great opportunities going forward. Our fully integrated value chain is our competitive advantage. We mean that we deliver value for our customers, which are seeking sustainability, health, quality, traceability, stability, availability and convenience. And our value position is speed and cost efficiency, reliability and trust, product and category innovation and traceability and quality assurance and clear ESG commitments. Highlights of the quarter. Strong biological performance. Spot prices for salmon and trout well below last year. Group contract share of 30%, supporting both farming and web sales and distribution. Record high earnings in web sales and distribution segments. Low quotas in wild catch, offset by significant price increase and positive cost development in farming. And in the quarter, we have paid out a dividend of 2.5%. NOC per share paid in the quarter. And we have had an operational EBIT of 680 million compared to 906 same quarter last year. We are reporting in three segments, farming, wildcatch, WAP sales and distribution, and we will go into some details of the quarter in the different segments. And we start with the farming highlights. And the spot prices for salmon is about 30 NOK lower compared to the same quarte...