Norway's Gigante Salmon posts Q1 operating loss on biomass impairment

Gigante Salmon AS

21/04/2026 06:09

Overview

Norway land-based salmon farmer's Q1 2026 revenue reached NOK 72.5 mln

Company posted operating loss, but would have been profitable excluding biomass impairment

Company completed facility construction and raised NOK 400 mln in capital increases

Outlook

Company did not provide specific guidance for future quarters or the full year

Result Drivers

FISH HEALTH CHALLENGES - Winter ulcers and gill issues affected robustness, harvest weight, and share of superior quality fish

MORTALITY REDUCTION - Measures taken reduced mortality towards the end of the quarter

FACILITY COMPLETION - Transition to full operational status after facility completion in March 2026

Company press release: ID:nObiHfX0Pa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
NOK 72.50 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for Gigante Salmon AS is NOK13.50, about 38% above its April 20 closing price of NOK9.78

The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 31 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)