Post on 20-Aug-2020
DNB Foods & Seafood 26
� Development licenses
� Offshore
� Closed systems
� Land based
� Genetics/CRISP
� New players
Regulatory and technological innovation will solve
the growth problem
Source: Kontali, DNB
The road ahead
DNB Foods & Seafood
Sustainability is key Fish farming is good, both for you and the planet
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Aquaculture
scores high both
on sustainability
and health
Source: EAT
Sustainability and health
The road ahead
DNB Foods & Seafood
Norwegian salmon ~antibiotics free
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Extremely low antibiotics use in Norwegian salmon farming
The road ahead
Source: Nutreco
Antibio
tics (
kg)
Volu
me o
f fa
rmed s
alm
on in N
orw
ay,
tons (
000)
DNB Foods & Seafood
Optimal size of corporations External transaction costs > internal transaction costs = growing companies
Ergo, consolidation will continue
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External
transaction
costs
Company A Company B Market
Driving force for larger and more integrated corporations � Biological control
� Quality control throughout the whole value chain
The road ahead
Source: DNB
DNB Foods & Seafood
New industries
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Tidligere har vi hatt 80% fiske
og 20% oppdrett. Nå skal vi
ha 50/50, og da trenger vi å
utvikle et samarbeid hvor
norske selskaper hjelper oss.
Dere er pionerer og veldig bra på teknologi.
Irans landbruks- og
sjømatminister, sitat fra VG
Smelteverket Finnfjord vil lage laksefor
The road ahead
DNB Foods & Seafood
Leveraging salmon farming know-how into new species
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Leveraging salmon farming know-how into new species is an important M&A driver
� Pharmaq
� Ewos
� Skretting
� Lerøy/Havfisk/Norway Seafoods
What we know about salmon we can globally for 60+ different species -Nutreco CEO Knut Nesse
The road ahead
Source: Nutreco
DNB Foods & Seafood
Atlantic salmon � small but leading within aquaculture
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The road ahead
High level of industrialization, low risk
Source: MMHG/Kontali
� Aquaculture production has outpaced all other food-producing systems the last two decades
- FAO, SOFIA 2016
� Aquaculture will continue to be one of the fastest growing food sectors
- OECD-FAO Agricultural Outlook 2016-2025
DNB Foods & Seafood
What is size? Volume vs profits: the story of Apple vs Nokia
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The road ahead
Size - volume Size - profits
Source: Asmco.com
DNB Foods & Seafood
The road ahead
Still early days Norwegian Gov�t hopes for 5x increase in sales by 2050
Sales in NOK bn, Gov�t scenario
Highly productive oceans
Marine alge
Aquaculture, new species
Suppliers, including feed
Marine ingredients
Salmon farming
Fisheries
Source: SINTEF
DNB Foods & Seafood
�Seafood is the new oil� Oil price collapse reinforced Norway�s focus on the seafood industry
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The road ahead
Seafood is the stock market winner
Source: OSE, DNB
Seafood share of exports doubled
Source: SSB, DNB, OSE
Energy
Seafood
Materials
DNB Foods & Seafood
Norway � leader in ocean industries
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Source: OECD, Menon
The road ahead
Share of GDP ocean based industries, percent
70% of
Norway�s
exports
from
ocean
industries
Fish & Ships
DNB Foods & Seafood
Thank you for your attention
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