18/12/2020 by Knut Henrik Rolland
Norwegian aquaculture suppliers
An update from the sector
The Norwegian aquaculture supplier industry achieved solid sales growth in 2019, with margins also increasing slightly compared to the preceding year. The 183 companies covered in our report recorded sales of 54,1 billion NOK in 2019, increasing by approximately 5 billion (10,2%) compared to 2018. The sample achieved a weighted average EBIT margin of 6,9%, which is up from 6,5% the year before.
In 2019, Norwegian farming companies enjoyed superior margins compared to suppliers. Our yearly report, The Salmon Farming Industry in Norway 2020 , revealed that Norwegian salmon and trout farmers achieved an EBIT margin of 24,6% in 2019, which was beaten only by wellboat operators (33,5%) and medications, vaccinations and chemicals (24,8%) among suppliers. There was however large variation between the different supplier segments, with Closed-containment technology registering the lowest EBIT margin with their -2,4%.
The Norwegian aquaculture supplier industry is more fragmented than the Norwegian salmon farming industry, although there is clearly a trend towards consolidation initiated by both suppliers and salmon farming companies. Examples of this from the last years include Frøy Gruppen merging with NTS and Mørenot acquiring several companies. Europharma, Fishguard and ACD Pharma merged into STIM, while Steinsvik, Aqualine and Aquaoptima merged into Scale Aquaculture. Gerda Sæle and Salmon Star were acquired by Aquaship.
Want to know more about the Norwegian aquaculture suppliers? Check out our yearly report Norwegian Aquaculture Suppliers