SalMar ASA, a leading player in the aquaculture industry, reported a mixed financial performance in the first quarter of 2025, with operational EBIT for Norway standing at NOK 852 million and NOK 798 million for the Group. Despite the challenges of a low harvest volume and high costs, the company remains optimistic about the year ahead, citing good growth and survival rates in the sea as key indicators for future success. Frode Arntsen, CEO of SalMar ASA, acknowledged the financial weaknesses of the quarter but emphasized the positive biological developments that pave the way for increased volume in the coming months.

The first quarter's results were impacted by late harvesting and fish welfare considerations, leading to a low average weight and a high share of downgraded fish. These factors contributed to a negative impact on price achievement. However, SalMar's strategic investments and mergers, including the recent acquisition of a controlling stake in AS Knutshaugfisk and the planned merger with Wilsgård AS, are expected to strengthen the company's position in Norway's salmon production industry. These moves highlight SalMar's commitment to profitable and sustainable growth in one of the world's premier regions for aquaculture.

Scottish Sea Farms, a part of SalMar's operations, reported a strong quarter with increased harvest volume and good biological status across all regions. This performance underscores the potential for recovery and growth in SalMar's broader operations. The company's focus on building biomass in Q1 is anticipated to facilitate increased harvest volumes later in 2025, aligning with SalMar's long-term strategic goals.

Looking ahead, SalMar is poised to capitalize on its recent investments and the positive trends observed in sea growth. The merger with Wilsgård AS, expected to be completed in the summer of 2025, will further enhance SalMar's operational efficiency and regional development efforts. With these strategic initiatives and the underlying strength of its sea operations, SalMar is well-positioned to navigate the challenges of the first quarter and achieve its objectives for the remainder of the year.

The European Investment Bank (EIB) has further solidified its support for the expansion of Stockholm's metro system by approving an additional loan of 4.5 billion SEK (approximately 400 million euros) to Region Stockholm and Stockholm City. This latest financial injection brings the EIB's total commitment to the project to over 12 billion SEK, marking it as the bank's largest investment in Swedish public transport to date.

The expansion project, one of the largest EU-funded infrastructure initiatives in Sweden, encompasses the construction of three new metro lines, approximately 30 kilometers of new tracks (including about 20 kilometers of double-track tunnels), and 18 new stations. Additionally, the project will facilitate the development of 130,500 new homes along the new routes, addressing the growing demand for sustainable and efficient public transport in the Stockholm region.

Thomas Östros, Vice President of the EIB, emphasized the project's significance, stating, 'This investment strengthens both sustainable mobility and regional development. By contributing additional funding, we demonstrate our long-term commitment to climate-smart investments in Europe's growing cities. The project is an excellent example of how EU funding can benefit both residents and the climate.'

The expansion is a collaborative effort involving the state, Region Stockholm, and the municipalities of Järfälla, Nacka, Solna, and Stockholm. With a budget of 54 billion SEK at the 2016 price level, the project is a cornerstone in Stockholm's strategy to achieve its climate goal of net-zero emissions by 2045. The new metro lines are expected to significantly reduce greenhouse gas emissions by providing a viable alternative to car travel, thereby enhancing the quality of life for the region's residents.