Grieg Seafood Reports Losses in Q4; Wrapping Up a “Challenging Year”
Grieg Seafood released its Q4 financial results for 2020 in what the group’s CEO Andreas Kvame described as a “challenging year.”
The company reported negative earnings before interest and taxes (EBIT) of NOK 17 million (USD 2,000,000). Compared to 2019, it was a loss of NOK 107 million due to disrupted markets with low spot prices hitting earnings.
The average spot salmon price (NQSALMON, weekly average less distributor margin) for Q4 2020 was NOK 43.2 per kg, down by NOK 13.4 per kg compared to Q4 2019...
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