Our integrated annual report for 2023 is now published

2023 has been an exciting year for us, and we are proud to present the integrated annual report for 2023. This year’s report shows how we have achieved record-high revenues and strong earnings, thanks to strategic investments in growth capacity over the past years.

We successfully navigated challenges related to the introduction of the Norwegian tax and completed the successful acquisition of Maskon, a global leader in fully automated vaccination machines. Additionally, we launched two new concepts, Vortex® and ScaleAQ Subsea System, which have been developed and tested to ensure further growth in the industry. We also initiated SirkAQ, a green platform project aimed at establishing a circular value chain for products made of plastics.

“I am proud that we in 2023 delivered all time high revenues and result. Revenues ended at 3.4 BN and Adjusted EBITDA at 295 MNOK, driven by good performance across the Group. 2023 was marked by the proposal and implementation of the new resource tax regime in Norway, which caused uncertainty, distraction and reduction of investments in the fish farming industry. Thanks to all our 900 dedicated, talented and hard-working employees, we were able to manoeuvre ourselves through the rough seas”.

Svein Vestermo, Interim CEO

In terms of sustainability, we made significant progress in 2023. We started materiality assessments for all divisions in line with the EU directive on sustainability reporting (CSRD/ESRS) and assessed climate risks for all regions. We also implemented software to increase social control and monitoring of strategic suppliers, both in compliance with and beyond the requirements of the Transparency Act.

Furthermore, we prepared climate accounts for ScaleAQ Group and established networks of sustainability ambassadors both nationally and internationally. We launched ScaleAQ Circular and published environmental documentation for two products, as well as developed a biological documentation program.

"At ScaleAQ, we actively contribute to building a sustainable aquaculture industry for the future. Our solutions, technology, products, and services are designed to protect ecosystems, enhance animal welfare, reduce harmful climate and environmental impacts, and prioritize the health and safety of aquaculture industry employees".

Hanne Digre, Chief Sustainability Officer

ScaleAQ’s HSE forum initiative has grown under the leadership of the Norwegian Seafood Federation and the NCE Aquatech cluster. We have also actively participated in several research programs and launched our own ESG podcast to share insights into our work on environmental, social, and governance issues.

We are determined to maintain the momentum in the green transition going forward. With the world’s best expertise, we will continue to retain our employees, local jobs, and our international leadership in developing tomorrow’s technology for an even more sustainable aquaculture.