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Norwegian salmon farming A global leader in aquaculture know-how and
profitability
DNB og Fish Pool Lakseseminar
Bergen september 2016
Dag Sletmo, [email protected], tel: +47 95286134
A Cluster Partner
DNB Foods & Seafood
Norsk lakseoppdrett er en fantastisk suksesshistorie
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Laksen
er
Norges
Ikea
Norge er for
laks det
Saudi-Arabia
er for olje
Norsk lakse-
oppdrett er
akvakulturens
Apple Apple
3
DNB Bank is a global seafood player
DNB Foods & Seafood
Agenda
� Norwegian salmon farming, a success story
� What made Norwegian salmon farming a success?
� The road ahead for the industry
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DNB Foods & Seafood
Top seafood producers globally
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A success story
Source: FAO, data for 2014
DNB Foods & Seafood
Seafood � an economic success for Norway Massive economic outperformance last 25 years
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A success story
Seafood � value added growth 3x higher than GDP since 1990
Development in value creation (gross product), fixed 2005-prices, 1970=100
Seafood
Norway GDP
Norway GDP ex oil
Manufacturing
Norway #2 seafood exporter after China globally Source: SSB
DNB Foods & Seafood
Value creation driven by volume growth But also improving margins
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A success story
Global production 9% annual volume growth 1992-2016
Norway 56%
Chile 22%
UK 8%
Canada 6%
Faroes 4%
Others 4%
Source: Kontali, DNB
DNB Foods & Seafood
13% annual sales growth last decade
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A success story
*FY �16 based on runrate Jan-Aug annualised
Norwegian salmon exports, NOK bn
Source: Norwegian Seafood Council, DNB
DNB Foods & Seafood 9 Source: SINTEF, SSB
A success story
Value creation per employee 3x > than national average
Value creation per employee, selected industries
Norway ex oil
Wood base industries
Forestry
Fish processing
Aquaculture
Fishing
Food production
Agriculture
NOKm
DNB Foods & Seafood
Strong value creation for owners
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A success story
Seafood has been the winner on Oslo Stock Exchange
Seafood index
Oslo Benchmark Index
Source: OSE
DNB Foods & Seafood
Oslo Stock Exchange A leader in Ocean Industries & #1 in Seafood
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#1 Europe oil services, no of companies
#2 Energy, no of companies
#1 in Europe, no of companies
#2 globally, no of companies
#1 globally, no of companies and market cap
Energy
Shipping
Seafood
Source: OSE
A success story
DNB Foods & Seafood
Agenda
� Norwegian salmon farming, a success story
� What made Norwegian salmon farming a success?
� The road ahead for the industry
12