Stock Analysis

SalMar Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag

Simply Wall St

April 21, 2024

SalMar (OB:SALM) Full Year 2023 Results

Key Financial Results

Revenue: kr27.9b (up 40% from FY 2022).
Net income: kr2.55b (down 21% from FY 2022).
Profit margin: 9.1% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses.
EPS: kr19.37 (down from kr26.75 in FY 2022).

revenue-and-expenses-breakdown — OB:SALM Revenue and Expenses Breakdown April 21st 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

SalMar EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 23%.

The primary driver behind last 12 months revenue was the Sales and Industry segment contributing a total revenue of kr27.1b (97% of total revenue). The most substantial expense, totaling kr6.92b were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how SALM's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Food industry in Norway.

Performance of the Norwegian Food industry.

The company's shares are down 4.1% from a week ago.

Risk Analysis

You still need to take note of risks, for example - SalMar has 3 warning signs we think you should be aware of.

Valuation is complex, but we're helping make it simple.

Find out whether SalMar is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

View the Free Analysis

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.