Leroy Seafood farms less salmon, catches less whitefish in 2019

This 34-year-old will run a stock-listed land-based salmon farm

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Norway-listed Leroy Seafood Group saw annual its harvest volume dip 2.4 percent in 2019 compared to the year prior, according to the company's fourth quarter trading update.

The company harvested 158,100 metric tons of salmon and trout throughout the year, with Sjotroll producing the only increase: a 3 percent rise to 60,000 metric tons. The rise failed to make up the shortfall of an 11 percent decrease in harvests in Aurora, to 32,800 metric tons, and a 3 percent drop in Midt to 64,800 metric tons.

In the fourth quarter of the year alone, Leroy’s harvests decreased 13 percent year-on-year, to 42,800 metric tons, the company said.

Whitefish catches for the year through Leroy’s wild harvesting company Havfisk also dropped, dipping 6 percent year-on-year to 62,500 metric tons.

Of the total wild catch volume, 22,500 metric tons, or 36 percent, was cod.

The complete fourth quarter report will be released on Feb. 25.

Leroy disappointed the market this year, with shares down 7.7 percent, putting the company's market value at NOK 35.1 billion (€3.5 billion /$3.9 billion), according to the recent analysis done by Sparebank 1.