Nordlaks celebrates year of significant investment

The Havfarm1 arrived last month

Nordlaks, the company behind the giant Havfarm1 salmon farming platform, invested more than 850 million kroner (£72 million) in 2019 – a year which it says an algae bloom outbreak affected production.

Nordlaks reported operating revenues of NOK 3.06 billion (£260 million), up from NOK 2.95 billion (£251 million) the previous year. After tax and financial costs the net annual profit was NOK 788 million (£67 million) although virtually all of it has gone into new investment.

Nordlaks CEO Eirik Weld said:

‘2019 was characterised by both an algae bloom outbreak and the fact that Nordlaks has grown and made large investments to be ready to receive and start operations in the first sea farm. All in all, we are pleased with the results and that for the first time we have a turnover of more than NOK 3 billion in the course of one year. Nordlaks has invested a total of NOK 850 million last year in boats, feed rafts, industrial plots, water treatment plants, quays, sea farms, well boats and hatcheries.

‘Now that we have Havfarm 1 (also called the ‘Jostein Albert’) in operation we will start to see results in the future from the great industrial promise that Nordlaks has made in recent years. This obviously means a lot to Nordlaks. It also involves over 500 northern Norwegian suppliers who have delivered small and large assignments to us for a total of NOK 1.3 billion. We intend to continue to invest in the years ahead.

‘So far this year Nordlaks has started production on the ‘Jostein Albert’, while the hatchery at Innhavet in Hamarøy has been completed. We also have the first of two new well boats which is expected to arrive before the turn of the year.’

Nordlaks was also awarded an additional 200 tonnes of potential production from new permits at the recent national salmon and trout licence auction.