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Over the past 20 years LSG have developed a fully integrated value chain for seafood with an average revenue growth of 12% p.a. and a return on capital employed of 17% p.a.
LSG operates salmon and trout farms across three regions in Norway and has a substantial wild catch operation completing the product offering. The downstream operation in VAP S&D is growing and an increasing share of the groups raw materials is processed through the groups value chain. Our sales and processing operations now span 14 countries.
Historically, value chains for seafood have been very fragmented and not suited to meet increasingly complex customer requirements. By comparison, LSG’s fully integrated value chain is more reliable, faster and cost efficient.
The group’s sustainable value chain supports full traceability, quality assurance and increased value creation through product innovation. This is what our strategic customers expects and what we work for every day. This is our competitive advantage, comments CEO Henning Beltestad.
Executing on strategy is the key for continued high profitability. Our targets presented at the Capital Markets Day today are:
For the farming segment targets for operational efficiency towards 2025 include:
Like any business today, Lerøy is experiencing cost inflation, however we aim to counterbalance this through operational improvements, says Beltestad.
LSG will strengthen and develop our core business by:
As regards biology, LSG aims to increase survival rate, increase growth rate, increase utilization of license capacity and improve harvest quality while further strengthening the position as a global climate and environmentally sustainable food producer.
Farming volumes have increased by 9% p.a. last three years driven by post-smolt investments. The strategy for post-smolt has proven successful, but there is still untapped potential. COO Farming, Bjarne Reinert will elaborate on this at today’s event.
"Our goals are ambitious yet obtainable. The common theme is operational improvements across all our segments.
We have clearly defined initiatives to achieve operational excellence which we will demonstrate today. I am confident we are on the right track for continued profitable growth", says Henning Beltestad.
12:00-13:30: Lerøy Seafood Group strategy followed by Q&A. Presented by CEO Henning Beltestad
13:45-15:30: Farming strategy followed by Q&A. Presented by COO Farming Bjarne Reinert
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Lerøy Seafood Group ASA is a global seafood corporation with its head office in Bergen. The Group’s approx. 5,500 employees process about 400,000 tonnes of seafood every year via our value chain, corresponding to around 5 million meals every day. The Group has a vertically integrated value chain for red fish and whitefish, and significant activities using third-party products.
The Group’s values – open, honest, responsible and creative – shall underpin everything we do, and we work hard to achieve our goal of creating the world’s most efficient and sustainable value chain for seafood. The target for return on capital employed (ROCE) is 18%. The Group has set a number of targets within sustainability, including cutting greenhouse gas emissions by 46% by 2030.