Land-based producer’s Q1 results show 96% superior grade fish

Editorial Staff

Leading land-based salmon producer Salmon Evolution has reported strong operational performance and harvest results for the first quarter of 2024.

The company harvested a total of 901 tons of head on gutted (HOG) salmon with an average weight of approximately 4.6 kilograms (live weight).

The superior grade share of the harvest was 96%. Salmon Evolution achieved an all-in price realization of approximately NOK 108 ($10.08) per kilogram.

The company’s operations remained stable with a fully stocked farm, leading to a net biomass growth of about 1,560 tons (live weight), marking an 8% increase from the previous quarter.

The standing biomass at the end of the quarter was a record high at almost 2,700 tons (live weight). For the second quarter (Q2), Salmon Evolution expects harvest volumes to be in the range of 1,600 to 1,800 tons HOG.

“In the first quarter we had an industry leading superior grade share of 96%, continuing to demonstrate excellent fish welfare,” CEO Trond Håkon Schaug-Pettersen commented on the company’s. “With Q2 harvest volumes expected to double from Q1, Salmon Evolution is uniquely positioned to capitalize on the current record high salmon prices.”

The full Q1 2024 report will be released on May 7, 2024.

Salmon Evolution is targeting a production capacity of 100,000 tonnes HOG annually. The company, located on the west coast of Norway, employs a hybrid flow-through system (HFS) and aims for global expansion.


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