Icelandic Salmon is preparing to launch its own brand in the coming weeks.
The company said the label will be called “Arnarlax – Sustainable Icelandic Salmon” and will help the group break into new markets as well as differentiate its products from others. The launch is expected sometime during the current quarter.
Icelandic Salmon is the parent company of Arnarlax, the largest producer of Atlantic Salmon in Iceland and owned by the Norwegian giant SalMar.
It said: “With Icelandic super chill technology, Icelandic Salmon has continued to expand a new export route by boat to the US, with a lower carbon footprint and less cost than air freight.
“The group also signed a contract with a local partner for production of pre-rigour fillet, which is a new product for Icelandic Salmon.
The announcement was made on presentation of the group’s first half (January-June) results which show a small increase in revenues to €35.7m. The operational EBIT or profit came out at €3.43m against a loss of €490,000 in the first half of last year.
The company also generated a half year pre-tax profit of €2.95m compared with a loss of €6.88m 12 months earlier.
It said: “Continued attention to cost efficiency and increased market prices have contributed to the good financial result. The total own harvest in the period was 4,848 tonnes, and biological performance improved especially on mortality and growth rate.
“Low lice levels recorded and no de-licing required. Two arctic char facilities were acquired in the period. Conversion to smolt production is underway and will increase the Group’s total smolt capacity with approximately 800,000 smolt in 2022 and 1,500,000 smolt in 2023.”
The statement added: “Icelandic Salmon experienced positive development in biology in the first half of 2021, mainly related to reduced mortality and a better growth rate.
“A change of harvest strategy with lower biomass into the winter season and lower density in the cages, contributed to the improved results.
“The majority of the fish was harvested towards the end of the period leading to a favourable price achievement.”
A new barge and a service boat were delivered, further extending the group’s production capabilities.