Måsøval has record high biomass after harvesting less in Q1
The mid-sized Norwegian salmon producer has nudged up its volume guidance for 2026 after strong biological development at the start of the year
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Måsøval delivered an operating profit of NOK 28 million (£2.2m) in the first quarter of 2026, NOK 6m more than in the same period last year.
The company also reported record-high biomass and improved fish health.
Operating revenues ended at NOK 510m in the quarter, down from NOK 681m in the same period last year. The company's Q1 2026 quarterly report says the lower figure is mainly the result of lower harvesting volumes.
Måsøval harvested 4,712 gutted weight tonnes in the quarter, compared to 5,226 tonnes the previous year, distributed across these areas:
- Central region: 1,170 gwt.
- West region: 2,250 gwt.
- Via co-location: 1,292 gwt.
'A very good foundation'
At the same time, biomass increased by 8,347 tonnes, up from 7,030 tonnes in the first quarter of 2025. According to chief executive Helge Kvalvik, the growth is a result of targeted work in fish health, biosecurity, and smolt quality.
"We enter the second quarter with record-high biomass, strong growth rates and robust fish health, which provides a very good basis for improved operational and financial development going forward," says Kvalvik in the report.
The company highlights that it was the only fish farm in the Frøya Nord zone that had no confirmed cases of pancreas disease during the quarter. At the same time, the superior share of its harvest increased sharply to 85.2%, compared to 62% in the same quarter last year.
Based on the development, Måsøval is upgrading its expectations for 2026 and increasing its harvest guidance from 27,200 to 28,000 gwt, and expects cost reductions in all segments and regions in the second quarter.
There could be big changes
Måsøval has previously announced that there may be major changes in both ownership and management in the future. Helge Kvalvik has already announced that he will step down as CEO by June 30, and chairman Lars Måsøval has said that he may take on the role temporarily until a new CEO is in place.
Main owner Heimstø AS began a strategic review of its ownership in the company earlier this spring. Heimstø controls around 70% of the shares in Måsøval, and there is great interest about who a potential buyer will be.
