Scottish Sea Farms revenues slump, but outlook brighter, company says
Scottish Sea Farms revenues fell by almost £22 million year on year for the period between April and June this year, it emerged today.
The results were reported by the Lerøy Seafood Group in its second quarter update. Lerøy jointly owns Scottish Sea Farms with the salmon giant SalMar, also of Norway.
The company harvested 8,144 tons during the quarter, down from 11,642 tons during the same period a year ago.
Lerøy said cost, and thus profitability, was impacted by lower utilisation of the value chain on low volumes.
But an underlying operations improved materially, and operational EBIT before fair value adjustments turned positive at NOK 8 million, compared with NOK -28 million in Q2 2025.
The Lerøy EBIT per kilo improved from minus NOK -2.4 in Q2 2025 to NOK 1.0 in Q2 2026.
It added that the next generation of fish is developing well, and harvest guidance for 2026 is unchanged at 43,000 tons GWT on a 100% basis.
The Scottish Sea Farms second quarter revenues totalled NOK 758 million (£60m) against NOK 1,036 million (£81m) a year earlier.
The operation produced a pre-tax loss of NOK -345 million (-£27m) against a profit of NOK 14 million (just over £1m) in Q1 last year.
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