Bakkafrost hit by Scottish mortality costs in Q3.
Bakkafrost’s Scottish operations continue to weigh on the group’s performance, with DKK 59 million ($8.3 million) in incident-based mortality costs reported in the third quarter of 2025. The losses were concentrated in September at the company’s Portree site, underlining ongoing biological challenges in the region.
The Faroese segment provided a sharp contrast, with stable harvests and no extraordinary mortality costs during the quarter.
In total, Bakkafrost harvested 30.7 thousand tonnes (HOG) in Q3. The Faroe Islands accounted for 25.4 thousand tonnes at an average weight of 5.2 kg, with volumes rising steadily across July, August and September. Scottish harvests came to 5.3 thousand tonnes at an average weight of 4.8 kg.
The disparity highlights a persistent gap between the company’s Faroese operations, which remain its core earnings driver, and the underperforming Scottish business.
Smolt release and strategy
Smolt releases in Q3 were 4.8 million in the Faroe Islands and 3.3 million in Scotland. Bakkafrost has placed large smolt capacity at the centre of its long-term strategy, aiming to shorten production cycles and reduce biological risk. The latest mortality incident underscores the continued execution risk attached to the Scottish rollout.
In its Fishmeal, Oil and Feed (FOF) division, Bakkafrost sourced 40.3 thousand tonnes of marine raw material and sold 49.1 thousand tonnes of feed in the quarter. Fishmeal sales were 5.1 thousand tonnes, with no fish oil sales recorded. The division continues to underpin the group’s integrated model, although farming remains the key profit driver.
