Måsøval reports strong performance as takeover speculation mounts

Despite biological volatility, regulatory uncertainty, and shifting market conditions, Måsøval delivered strong biological performance throughout 2025, with harvest numbers up 14% to 28,500 GWT (gutted weight tonnes).

Sales were also up, by 9% to NOK 2,436m (£194m); but EBITDA fell substantially, by 40% to NOK 321m (£25.5m).

The company has already stated it is carrying out a major review of the business which may include a possible sale.

There has been speculation that the Norwegian salmon giant SalMar is preparing a bid after the private Norwegian investment company Kverva, owned by the Witzøe family, which in turn owns SalMar, has been buying up shares in the company.

Presenting its annual report at the weekend, Måsøval said: “The organisation successfully managed an exceptionally demanding and historically high sea-lice pressure, demonstrating both operational resilience and improved biological control. 

“Our new five‑year strategy reflects a disciplined and sustainable approach to long‑term value creation. Working with biology demands precision, adaptability, and a deep understanding of natural variation. We have therefore intensified our focus on biological performance, cost control, and operational preparedness. Every investment and operational decision is now more tightly aligned with what supports fish health, environmental stewardship, and sustainable growth.”

The company added: “This is the core of our competitiveness and the basis for predictable value creation for our shareholders.”

Måsøval said: “Since our listing in 2021, we have grown into a fully integrated value chain from Sunnmøre to Trøndelag, while preserving what has always set us apart – short decision lines, a culture of accountability, and a relentless focus on quality.

“This combination makes us a trusted partner for employees, owners, suppliers, and customers — commercially minded, reliable, and ambitious.”