SalMar posted record quarterly harvest volumes and reduced unit costs, though third-quarter earnings were constrained by weaker salmon prices.
Operational EBIT for Norway was NOK 858 million ($84.0 million) in Q3 2025 on a harvest of 89,400 tonnes, equal to NOK 9.6 ($0.94) per kilo. At group level, operational EBIT was NOK 711 million ($69.7 million) on 93,200 tonnes, or NOK 7.6 ($0.74) per kilo.
The company said the share of superior quality fish has returned to normal and biological performance remains strong, particularly in Northern Norway, contributing to a positive cost trend. Sales and Industry reported strong results, supported by contract contributions and flexibility in harvesting and processing. Icelandic Salmon posted weak results due to continued high costs, while Scottish Sea Farms maintained good biological performance.
SalMar completed its merger with Wilsgård in August, strengthening its presence in Northern Norway.
Guidance:
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2025 group harvest volume expected at 299,000 tonnes, up 19 percent year on year.
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2026 group harvest volume expected at 319,000 tonnes on a 100 percent basis for Scottish Sea Farms, comprising 275,000 tonnes in Norway and Ocean, 21,000 tonnes in Iceland, and 45,000 tonnes at Scottish Sea Farms.
The company said it entered the fourth quarter with record biomass. Lower input prices and improved biology underpin expectations of further cost reductions across all segments.
