No let-up in demand for farmed halibut

This is being driven by sustained strong demand and a growing willingness among customers to pay for premium-quality farmed halibut.

During the April to June period the company achieved an average sales price of NOK 170 or £12.5 per kilo HOG, representing an 11% year on year increase.

Nordic Halibut recorded an increase in average harvest weights, reaching 4.3 kg heads on gutted (HOG) compared to 4.1 kg during the same period in 2024.

Due to the planned harvesting of smaller-sized fish during the quarter, the average harvest weight was lower than the 5.6 kg (HOG) reported in Q1 2025.

The company anticipates higher average harvest weights in the second half of 2025. Sales revenue for Q2 2025 totalled NOK 32 million (£2.35m), with sales volumes of 191 tonnes HOG, consisting of 176 tonnes fresh on ice and 15 tonnes of value-added products (VAP).

This represents a 53% increase in volume compared to the same period in 2024. Through the strategic agreement with Pure Norwegian Seafood AS (PNS).

Nordic Halibut said it is taking the final step toward full control of its entire value chain—from genetics through harvesting, processing, and value-added production—ensuring optimal quality and operational efficiency.

During the quarter, the company initiated preparations for value-added production by conducting market testing of sample products.

Biomass performance remained strong, with a net biomass growth of 4% during the quarter compared to Q1 2025.

Including the harvested biomass, total production at sea for the quarter represented a biomass increase of 15.4%. 

Construction of the Tingvoll facility, which commenced in Q1 2025, progressed according to plan during Q2 2025. The facility is expected to be fully operational by 2027 and will be instrumental in supporting Nordic Halibut’s scale-up plan, the company said, targeting an annual production of 10,350 tonnes HOG by 2031.