# SALMAR

Summary updated: 2026-10-04T15:02:00.46091Z
Canonical: https://finbar.com/research/companies/salmar

## Overview

SalMar is a Norwegian aquaculture company whose core business is farming Atlantic salmon and managing an integrated value chain spanning production, harvesting, processing and sales. Its products include fresh and frozen salmon, including fillets and portions. [1](https://app.finbar.com/go?id=P37145212)[2](https://www.salmar.no/en/about-salmar/salmar-today/)[3](https://www.salmar.no/en/customers-consumers/our-products/)

Its operations include Central and Northern Norway, Iceland and Scotland, as well as offshore aquaculture through SalMar Ocean; SalMar also has a 50% joint venture in Scottish Sea Farms. The company sold products in 52 countries in 2025, with Europe its main market, followed by Asia and North America. [4](https://app.finbar.com/go?id=P72606310)[5](https://app.finbar.com/go?id=P81669646) SalMar describes its vision as “Passion for Salmon” and its ambition as being the world’s best aquaculture company. [6](https://app.finbar.com/go?id=P45504965)[7](https://www.salmar.no/en/about-salmar/salmar-today/strategy-vision/)

For the 2025 reporting year, SalMar reported revenue and other income of NOK 27,394 million and a workforce of 3,574. Founded in 1991, the company began with the acquisition of a salmon-farming licence and a whitefish harvesting and processing plant. [8](https://app.finbar.com/go?id=T8453034)[9](https://app.finbar.com/go?id=T143046)[10](https://www.salmar.no/en/about-salmar/salmar-today/our-history/)
[1](https://app.finbar.com/go?id=P37145212)[4](https://app.finbar.com/go?id=P72606310)[5](https://app.finbar.com/go?id=P81669646)[6](https://app.finbar.com/go?id=P45504965)[8](https://app.finbar.com/go?id=T8453034)[9](https://app.finbar.com/go?id=T143046)[2](https://www.salmar.no/en/about-salmar/salmar-today/)[3](https://www.salmar.no/en/customers-consumers/our-products/)[7](https://www.salmar.no/en/about-salmar/salmar-today/strategy-vision/)[10](https://www.salmar.no/en/about-salmar/salmar-today/our-history/)

## Products & services

SalMar’s products are primarily fresh whole Atlantic salmon and a range of fresh and frozen salmon products. Formats include whole gutted fish; fillets with or without skin, plain or seasoned; loin cuts and portions; and organic salmon in fresh or frozen, pre-rigor or post-rigor formats. Listed shelf lives include 15 days for fresh fillets, 12–24 months for frozen fillets, and 14 days for vacuum-packed fresh prime-loin portions. [11](https://app.finbar.com/go?id=P111700998)[3](https://www.salmar.no/en/customers-consumers/our-products/)

Harvesting services are identified as SalMar’s main service revenue. Its InnovaMar industrial plant supports harvesting, filleting and portioning, with stated annual harvest capacity of 150,000 tonnes; some salmon also undergoes secondary processing before delivery to customers. [11](https://app.finbar.com/go?id=P111700998)[12](https://app.finbar.com/go?id=P74575723)
[11](https://app.finbar.com/go?id=P111700998)[12](https://app.finbar.com/go?id=P74575723)[3](https://www.salmar.no/en/customers-consumers/our-products/)

## Geographic presence

SalMar’s farming operations are based mainly in Norway, with activities in Central Norway and Northern Norway; it also operates in Iceland, Scotland, Shetland and Orkney. Its Icelandic production is located in the Westfjords. The company’s processing and harvesting locations include InnovaMar at Nordskaget on Frøya, InnovaNor on Senja, and Vikenco at Aukra in Møre og Romsdal. SalMar ASA’s headquarters is at Kverva, Frøya, Norway. [13](https://app.finbar.com/go?id=P38578811)[14](https://app.finbar.com/go?id=P63771167)[15](https://www.salmar.no/en/about-salmar/salmars-operating-areas/)[16](https://www.salmar.no/en/contact-and-press/contact-us/)

SalMar reported sales to more than 49 countries in 2025. Europe was its largest sales region, with Poland, the Netherlands and Spain among the leading markets; Asia ranked second, with China, South Korea and Japan identified as key markets, followed by North America. The company lists sales offices in Japan, Vietnam, Singapore, South Korea, Taiwan and Thailand. Its 2025 reporting counted 3,574 employees, including 3,416 in Norway and 158 in Iceland. [17](https://app.finbar.com/go?id=P30744815)[15](https://www.salmar.no/en/about-salmar/salmars-operating-areas/)[18](https://app.finbar.com/go?id=P85773852)
[13](https://app.finbar.com/go?id=P38578811)[14](https://app.finbar.com/go?id=P63771167)[15](https://www.salmar.no/en/about-salmar/salmars-operating-areas/)[16](https://www.salmar.no/en/contact-and-press/contact-us/)[17](https://app.finbar.com/go?id=P30744815)[18](https://app.finbar.com/go?id=P85773852)[15](https://www.salmar.no/en/about-salmar/salmars-operating-areas/)[16](https://www.salmar.no/en/contact-and-press/contact-us/)

## Business segments

For FY2025, SalMar reports its farming operations across Fish Farming Central Norway, Fish Farming Northern Norway, Icelandic Salmon and SalMar Ocean. Central and Northern Norway cover Norwegian fish farming, including hatchery operations; Icelandic Salmon is an integrated Iceland operation spanning hatchery, sea farms, harvesting and sales; and SalMar Ocean focuses on offshore farming, including semi-offshore operations. Sales & Industry is also identified as a business area, focused on harvesting and processing, but the cited segment schedule does not report it as a separate financial segment. [19](https://app.finbar.com/go?id=P33748719)[14](https://app.finbar.com/go?id=P63771167)[20](https://app.finbar.com/go?id=P92571143)

The FY2025 schedule does not provide segment revenue, so harvested volume is only an approximate proxy for revenue contribution and does not reflect differences in price or product mix. Based on each segment’s share of the reported group harvest, Central Norway contributed approximately 51%, Northern Norway 42%, Icelandic Salmon 4%, and SalMar Ocean 3%. As a separate financial measure, operational EBITDA was approximately 32%, 50%, -1% and -1% of group operational EBITDA, respectively; these segment amounts do not sum to the group total and should not be treated as a complete allocation. [21](https://app.finbar.com/go?id=T11291945)
[19](https://app.finbar.com/go?id=P33748719)[14](https://app.finbar.com/go?id=P63771167)[20](https://app.finbar.com/go?id=P92571143)[21](https://app.finbar.com/go?id=T11291945)[21](https://app.finbar.com/go?id=T11291945)[21](https://app.finbar.com/go?id=T11291945)[21](https://app.finbar.com/go?id=T11291945)[21](https://app.finbar.com/go?id=T11291945)[21](https://app.finbar.com/go?id=T11291945)[21](https://app.finbar.com/go?id=T11291945)[21](https://app.finbar.com/go?id=T11291945)[21](https://app.finbar.com/go?id=T11291945)[21](https://app.finbar.com/go?id=T11291945)

## Company history

SalMar was founded in February 1991 after acquiring a salmon-farming licence and a fish-harvesting and processing plant from a company in liquidation. Gustav Witzøe is identified as a co-founder. [10](https://www.salmar.no/en/about-salmar/salmar-today/our-history/)

In 2001, SalMar and Lerøy Seafood Group established a Scottish salmon-farming venture, later known as Scottish Sea Farms. SalMar listed on the Oslo Stock Exchange in May 2007, and in 2010 announced the acquisition of a majority stake in RaumaGruppen, expanding its Norwegian operations. [15](https://www.salmar.no/en/about-salmar/salmars-operating-areas/)[22](https://www.salmar.no/en/investor/share-bond/share-information/)[23](https://www.fis-net.com/fis/worldnews/worldnews.asp?id=36717&l=e)

SalMar expanded into Iceland through its increased investment in Arnarlax in 2019; Icelandic Salmon, the company operating the business, listed on Euronext Growth Oslo in 2020. In 2022, SalMar completed its merger with Norway Royal Salmon and acquired NTS. It completed the intra-group merger of wholly owned NTS in December 2023. [24](https://finance.yahoo.com/news/salmar-share-acquisition-arnarlax-052901458.html)[25](https://arnarlax.is/wp-content/uploads/sustainability-report-2020_final.pdf)[26](https://newsweb.oslobors.no/message/563568)[27](https://newsweb.oslobors.no/message/561103)[28](https://www.salmar.no/en/news/salmar-completion-of-intra-group-merger-and-mandatory-notification-of-trade/)
[10](https://www.salmar.no/en/about-salmar/salmar-today/our-history/)[15](https://www.salmar.no/en/about-salmar/salmars-operating-areas/)[22](https://www.salmar.no/en/investor/share-bond/share-information/)[23](https://www.fis-net.com/fis/worldnews/worldnews.asp?id=36717&l=e)[24](https://finance.yahoo.com/news/salmar-share-acquisition-arnarlax-052901458.html)[25](https://arnarlax.is/wp-content/uploads/sustainability-report-2020_final.pdf)[26](https://newsweb.oslobors.no/message/563568)[27](https://newsweb.oslobors.no/message/561103)[28](https://www.salmar.no/en/news/salmar-completion-of-intra-group-merger-and-mandatory-notification-of-trade/)[10](https://www.salmar.no/en/about-salmar/salmar-today/our-history/)[15](https://www.salmar.no/en/about-salmar/salmars-operating-areas/)[22](https://www.salmar.no/en/investor/share-bond/share-information/)[23](https://www.fis-net.com/fis/worldnews/worldnews.asp?id=36717&l=e)[24](https://finance.yahoo.com/news/salmar-share-acquisition-arnarlax-052901458.html)[25](https://arnarlax.is/wp-content/uploads/sustainability-report-2020_final.pdf)[26](https://newsweb.oslobors.no/message/563568)[27](https://newsweb.oslobors.no/message/561103)[28](https://www.salmar.no/en/news/salmar-completion-of-intra-group-merger-and-mandatory-notification-of-trade/)

## Sources

1. [SALMAR — Full financial report (2025 Y), p32](https://app.finbar.com/go?id=P37145212)
2. [www.salmar.no](https://www.salmar.no/en/about-salmar/salmar-today/)
3. [www.salmar.no](https://www.salmar.no/en/customers-consumers/our-products/)
4. [SALMAR — Full financial report (2025 Y), p5](https://app.finbar.com/go?id=P72606310)
5. [SALMAR — Full financial report (2025 Y), p31](https://app.finbar.com/go?id=P81669646)
6. [SALMAR — Full financial report (2025 Y), p2](https://app.finbar.com/go?id=P45504965)
7. [www.salmar.no](https://www.salmar.no/en/about-salmar/salmar-today/strategy-vision/)
8. [SALMAR — Full financial report (2025 Y), p6](https://app.finbar.com/go?id=T8453034)
9. [SALMAR — Full financial report (2025 Y), p24](https://app.finbar.com/go?id=T143046)
10. [www.salmar.no](https://www.salmar.no/en/about-salmar/salmar-today/our-history/)
11. [SALMAR — Full financial report (2025 Y), p183](https://app.finbar.com/go?id=P111700998)
12. [SALMAR — Full financial report (2025 Y), p15](https://app.finbar.com/go?id=P74575723)
13. [SALMAR — Full financial report (2025 Y), p14](https://app.finbar.com/go?id=P38578811)
14. [SALMAR — Full financial report (2025 Y), p180](https://app.finbar.com/go?id=P63771167)
15. [www.salmar.no](https://www.salmar.no/en/about-salmar/salmars-operating-areas/)
16. [www.salmar.no](https://www.salmar.no/en/contact-and-press/contact-us/)
17. [SALMAR — Full financial report (2025 Y), p151](https://app.finbar.com/go?id=P30744815)
18. [SALMAR — Full financial report (2025 Y), p24](https://app.finbar.com/go?id=P85773852)
19. [SALMAR — Full financial report (2025 Y), p180](https://app.finbar.com/go?id=P33748719)
20. [SALMAR — Full financial report (2025 Y), p155](https://app.finbar.com/go?id=P92571143)
21. [SALMAR — Full financial report (2025 Y), p277](https://app.finbar.com/go?id=T11291945)
22. [www.salmar.no](https://www.salmar.no/en/investor/share-bond/share-information/)
23. [www.fis-net.com](https://www.fis-net.com/fis/worldnews/worldnews.asp?id=36717&l=e)
24. [finance.yahoo.com](https://finance.yahoo.com/news/salmar-share-acquisition-arnarlax-052901458.html)
25. [arnarlax.is](https://arnarlax.is/wp-content/uploads/sustainability-report-2020_final.pdf)
26. [newsweb.oslobors.no](https://newsweb.oslobors.no/message/563568)
27. [newsweb.oslobors.no](https://newsweb.oslobors.no/message/561103)
28. [www.salmar.no](https://www.salmar.no/en/news/salmar-completion-of-intra-group-merger-and-mandatory-notification-of-trade/)

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