Salmon Evolution profits hit by low market prices in Q3

Operational achievements include a fully stocked farm and record biomass production over the three months between July and August.

Revenues ended at NOK 86.5 million (£6.5m) after harvesting 1,387 tonnes, heads on gutted.

Like so many other salmon farmers during the period, results were impacted by weak salmon prices and temporary effects on farming costs.

Farming EBITDA ended at minus NOK -30.6 (£2.25m) and the group EBITDA at minus -40.5 million (£3m).

CEO Trond Håkon Schaug-Pettersen said: “Phase 2 is on track, with testing and commissioning starting in less than 30 days.

“This is a complete game-changer, and I am more confident than ever that Salmon Evolution will deliver strong value for our stakeholders and continue to lead the industry forward."

Among the highlights during the period were Indre Harøy phase 2 progressing according to plan and on track for first smolt release in Q1-26. Testing and commissioning s will start in less than 30 days.

The business was continuing the positive trend with stable operations and a fully stocked farm, ending the quarter with a standing biomass of 3,009 tonnes LW and an all-time high biomass production.

Salmon Evolution has issued a harvest guidance of 7,000 tonnes HOG for 2026, up 50 % on the expected 2025 volumes.

Salmon prices recovered through September with forward expectations significantly up during the quarter.

Salmon Evolution describes itself as the global leader in land-based salmon farming, pioneering the hybrid flow-through system (HFS).