Lerøy Seafood Group ASA CMD 2026 sets a new financial roadmap to 2030, targeting NOK 50 billion in revenue, NOK 2 billion EBIT in its Value Added Processing, Sales & Distribution segment, and a 15% return on capital employed.

The strategy was presented on 2 March in Bergen, Norway, as the company outlined a shift from heavy investment to cost discipline, capital efficiency and scalable growth.

The Norwegian seafood supplier said it is entering a new phase focused on structural cost reductions and improved returns across its integrated value chain.

What Are Lerøy’s 2030 financial targets?

Lerøy targets by 2030:

  • NOK 50 billion in revenues

  • NOK 2 billion EBIT in VAP S&D

  • 15% return on capital employed (ROCE)

  • NOK 1 billion reduced cost base through 2026

The group also targets NOK 850 million in cost reductions in farming operations by 2026.

Average ROCE over the past three years has been around 11%, with management citing low salmon prices, reduced whitefish quotas and high investment levels as key factors.

How Will Lerøy Grow Seafood Volumes?

The company aims to sell 420,000 tonnes by 2030 — approximately 25% higher than 2025 levels.

In farming, Lerøy harvested 195,600 tonnes in 2025. It guides for 195,000 GWT in Norway in 2026 and targets 220,000 GWT harvest volume in Norway by 2030 based on existing license capacity.

The group said biological performance has improved materially since 2022 following investments in genetics, smolt quality and shielding technology.

Management stated that lower cost per produced kilo is expected in 2026 compared with 2025.

What Does This Mean For Seafood Supply Chains?

Lerøy operates a fully integrated model combining farming, wild catch and value-added processing.

The VAP S&D segment delivered NOK 1,290 million operational EBIT in 2025. The company now targets NOK 2 billion EBIT in that segment by 2030.

Wild Catch supplies roughly 15% of downstream volumes, though cod quotas remain below historical levels.

The group said recent upgrades to its trawler fleet and processing infrastructure position it for potential quota recovery toward 2030.

Why It Matters

Lerøy is one of the largest seafood suppliers in Europe, serving customers in more than 80 countries.

A 25% increase in sold volumes combined with lower production costs could influence salmon and whitefish pricing dynamics in global retail markets.

Cost reductions of nearly NOK 2 billion across the group by 2026 signal stronger margin resilience after several years of investment-heavy expansion.

The shift toward capital discipline and a 15% ROCE target suggests the next phase will prioritise cash flow and returns over expansion.

For supermarket protein buyers, the combination of higher harvest volumes and improved biological performance points to potentially more stable supply conditions in the medium term.

What happens next?

The company will now focus on translating prior investments in smolt capacity, shielding technology and processing upgrades into stronger returns and improved free cash flow.

For the wider European seafood produce market, the next phase will be closely watched. Higher harvest volumes combined with structural cost reductions could influence salmon pricing stability and long-term supply agreements across retail and foodservice channels.

Management reiterated its ambition to deliver stable and growing dividends over time, supported by disciplined capital allocation and improved capital efficiency.

A webcast replay and full Capital Markets Day materials are available via the company’s website.

Editors’ Note: All financial targets and operational figures are based on Lerøy Seafood Group ASA’s Capital Markets Day 2026 presentation released 2 March 2026.