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The recent rise in international salmon prices has once again pushed the market value of Oslo to a new historical high
.
Take Mowi as an example.
On June 15, 2021, its stock price rose to NOK 229/ shares, a 30% increase from the same period last year, and its total market value reached NOK 119 billion (US$14.
3 billion)
.
For another example, the market values of two other Norwegian large salmon companies-SalMar and Leroy Seafood Group have increased by 37% and 35% respectively from the same period last year
.
Only Atlantic Sapphire (a land-based RAS producer), Norway Royal Salmon (Norwegian Royal Salmon) and Camanchaca (Kamanca) have seen their market values fall by 26%, 24% and 6% respectively
.
On June 15, 2021, its stock price rose to NOK 229/ shares, a 30% increase from the same period last year, and its total market value reached NOK 119 billion (US$14.
3 billion)
.
For another example, the market values of two other Norwegian large salmon companies-SalMar and Leroy Seafood Group have increased by 37% and 35% respectively from the same period last year
.
Only Atlantic Sapphire (a land-based RAS producer), Norway Royal Salmon (Norwegian Royal Salmon) and Camanchaca (Kamanca) have seen their market values fall by 26%, 24% and 6% respectively
.
"The stock price of salmon has risen to the highest level in the past! From the perspective of price-earnings ratio (PE), even if salmon companies seem to be more expensive than other animal protein producers, their yield performance is significantly better than the overall market
.
Compared with 20 years ago, especially In the last 10 years, salmon companies’ capital share in the Oslo market has increased significantly,
” said Carl Emil Johannessen, an analyst at Norwegian investment bank Pareto Securities
.
.
Compared with 20 years ago, especially In the last 10 years, salmon companies’ capital share in the Oslo market has increased significantly,
” said Carl Emil Johannessen, an analyst at Norwegian investment bank Pareto Securities
.
Norway’s Oslo Stock Exchange is the world’s largest seafood stock trading center.
In addition to traditional salmon listed companies, it also provides financing services for many capture fisheries companies, niche species producers and innovative companies
.
In addition to traditional salmon listed companies, it also provides financing services for many capture fisheries companies, niche species producers and innovative companies
.
At the North Atlantic Seafood Market Conference (NASF), Johannessen said that between 2017 and 2018, the average price-earnings ratio of salmon listed companies was about 12; during the new crown epidemic, the market value of the seafood sector has shrunk severely; but if it is calculated based on the profit of the next fiscal year , The current P/E ratio should exceed 20
.
.
"We believe that the valuation of salmon companies (higher than other protein producers) is normal and fair
.
If compared with some stable consumer goods companies, the valuation of salmon companies is still low, especially in 2022, we It is expected that salmon prices will reach a new high
.
" Johannessen said, "The reason why Norwegian salmon companies are favored by investors is that the stock market mainly considers future growth and profitability.
Even if the growth rate of global salmon production slows down, Norwegian companies It can also make an outstanding contribution to sales growth
.
"
.
If compared with some stable consumer goods companies, the valuation of salmon companies is still low, especially in 2022, we It is expected that salmon prices will reach a new high
.
" Johannessen said, "The reason why Norwegian salmon companies are favored by investors is that the stock market mainly considers future growth and profitability.
Even if the growth rate of global salmon production slows down, Norwegian companies It can also make an outstanding contribution to sales growth
.
"
"If the average salmon price reaches NOK 60/kg in 2022, investors can expect a profit of NOK 14/kg, and the capital cost (such as the initial cost of construction of farms and processing plants) is about 7%.
This is a fair Estimate
.
At this level, even expensive new technologies, such as RAS systems, closed cages and deep-sea fishing grounds, are also very attractive for investment
.
"
This is a fair Estimate
.
At this level, even expensive new technologies, such as RAS systems, closed cages and deep-sea fishing grounds, are also very attractive for investment
.
"
"In terms of demand, investors generally believe that there is huge potential
in the global market .
In many countries, per capita salmon consumption is still very low; even in a mature market like the United States, last year's situation shows that demand will still show greater Room for growth
.
” Johannessen said
.
in the global market .
In many countries, per capita salmon consumption is still very low; even in a mature market like the United States, last year's situation shows that demand will still show greater Room for growth
.
” Johannessen said
.
Of course, in the Oslo market, investors are not limited to salmon.
The recently listed cod farming companies Norcod and Statt Torsk are also attractive
.
The recently listed cod farming companies Norcod and Statt Torsk are also attractive
.
"The biological performance of cod farming has been greatly improved, and the capital market is full of expectations for this new project
.
In the next few years, investors will pay more and more attention to these new species, not just salmon
.
" Johannessen said
.
.
In the next few years, investors will pay more and more attention to these new species, not just salmon
.
" Johannessen said
.
