Industry – July 5, 2026
Gigante Salmon: lifts production cost outlook to NOK 81/kg after Q2 harvest
Gigante Salmon harvested 653 tonnes head-on gutted (HOG) salmon in the second quarter of 2026 and now expects full-year production costs of approximately NOK 81 (€7.21) per kg HOG, according to a stock exchange update published on Friday.
The company reported an average harvest weight of 2.95 kg HOG, with 72 percent of fish achieving superior grade. Economic feed conversion ratio (eFCR) was 1.31, while the realised sales price averaged NOK 62.4 (€5.55) per kg HOG.
Gigante Salmon said financial expenses account for just over NOK 13 (€1.16) per kg. Production costs excluding financial expenses are running somewhat above previous expectations but remain broadly in line with earlier guidance.
Estimated standing biomass at the end of the quarter was 2,500 tonnes, with an average fish weight of 1.22 kg. The biomass consists entirely of the H2025 generation, which is scheduled for harvest between the fourth quarter of 2026 and the second quarter of 2027.
The company invested approximately NOK 60 million (€5.34 million) in its Rødøy land-based farming facility during the quarter. Investments included expanded feeding and oxygenation capacity, new residential facilities and sludge collection and handling technology.
Tank modifications reduced available production volume by around 5 percent. Gigante Salmon said it is evaluating measures to recover capacity, including increasing water levels in the tanks.
To support ongoing operations and future expansion, the company increased its overdraft facility with SpareBank 1 Nord-Norge from NOK 140 million (€12.46 million) to NOK 240 million (€21.36 million).
Gigante Salmon also said it remains in dialogue with the Norwegian Food Safety Authority regarding fish survival, welfare and tank conditions, and with the County Governor over sludge discharge. The company said the regulator has indicated it will increase its focus on these issues.
Looking ahead, Gigante Salmon plans to stock around 3 million smolt during late summer and autumn 2026. The company will publish its full second-quarter results on 18 August.
