Annual Report 2015 released // Grieg Group is well prepared for the future, but a tough shipping market and challenges in the seafood segment made 2015 a difficult year for the Group’s largest companies. At the same time several of the smaller companies are performing well.  

Grieg Seafood top line grew to almost 1.2 billion in Q4, but the result was considerably weakened due to algae and sea lice challenges resulting in high mortality in Q4. But the market is strong, with rising prices towards the end of the period.

Normalized production in Norway and BC, weak price realisation in UK and US markets, and high costs in Shetland due to strong GBP and algae and sea lice challenges gives a Q3 EBIT before fair value adjustment of biomass MNOK -44.4, against MNOK -52.7 in 2014. Harvested volume in Q3 19 480 tons, against 16 750 tons in the same period last year.

Yesterday's kick off arranged by Maritimt Forum addressed the issue 'How can the business region of Bergen take a globally leading position within maritime and marine industry'. Grieg Group was represented both in the panel debate and as one of four profiled companies from Bergen.

Grieg Seafood's operational EBIT for Q3 2015 is MNOK 30.

– She has a strong and clear voice and a heartfelt engagement in the social debate, says the YS jury about Elisabeth Grieg. Grieg has repeatedly occured in Norwegian media, stating her opinion on male dominance in business.

"We are facing perhaps the biggest refugee disaster since World War II. We have a common moral responsibility to help people who have fled the bloodshed in Syria and who desperately need our help", says Elisabeth Grieg.

Low prices realised in some markets had a negative impact on the overall performance. The American market remains weak, and in Shetland a large proportion of small fish resulted in lower income. The level of fixed price contracts was low in Q2, the same can be expected for Q3.

The Q2 2015 results for GSF will reflect high costs, as advised in connection with the presentation of Q1 earlier this year. The performance has also been affected by lower realised prices in some markets

Grieg Logistics-owned Seamless joins CMR with 30 pct of the shares to revolutionize international port operations.