Iceland salmon company losses down but problems remain
The Icelandic fish farmer Kaldvik has announced a final 2025 quarter loss of 10.6 million euros (£9m).
While this is less than a deficit of €17.5 million (£15m) in the same period a year earlier, the company is still facing challenges.
Kaldvik farm.
The operating income between October and December last year amounted to €48.2 million (£42m), an increase of €1.4m (£1.2m) on Q4 2024.
The harvest was over 1,300 tons higher, at 7,943. For the full year 2025, total harvest amounted to 17,105 against 14,965 tons.
Kaldvík said it is maintaining a harvest guidance for all this year to approximately 17,000 tons.
The company has had a difficult quarter, with issues such as winter wounds. A month ago the company issued an alert about the financial situation.
The statement said: “As a result, the company may be at risk of breaching one or more of its financial covenants in its senior bank debt facility in Q1 2026, or at a later stage in 2026.
“For the purpose of preparing for a potential breach, the company has initiated a dialogue with its lenders and will request a covenant waiver."
Kaldvik is majority-owned by the Norwegian Måsøval family company, through Austur Holding AS, which controls around 55% of the shares in the business.
It is one of Iceland’s leading salmon farmers and has a well-developed and fully-integrated value-chain controlling all steps from hatchery to sales.
Last year Kaldvik completed a substantial refinancing, which includes a new loan facility and an equity increase.
Why not try these links to see what our Fish Farmer AI can tell you.
(Please note this is an experimental service)
Freshwater Operative (6 month Fixed Term Contract) - Bakkafrost Scotland Limited
PH38 4ND£32,469.30 per annum
Broodstock Operative - Bakkafrost Scotland Limited
HS3 3HB£26,436.80 per annum
Automation Project Engineer - Bakkafrost Scotland Limited
IV54 8XH£54,750 per annum
Husbandry Operative, Loch Melfort, Argyll - Kames
Oban£27,500 to £30,500 per annum
Fish Husbandry Operative, Isle of Skye. Accommodation provided. - Kames
Dunvegan, Isle of Skye£29,000 to £31,000 per annum
You May Also Like
© 2026 Fish Farmer.