Nordic Aqua Partners reported a Q1 operating EBIT loss of €0.5 million as the land-based salmon farmer continued ramping up production at its Ningbo facility in China.
The company harvested 771 tonnes HOG during the quarter, with 95% graded superior and an average harvest weight of 4.4kg HOG. Revenue totalled €6 million, while released cost from stock was €6.27/kg.
Nordic Aqua said operating EBIT turned positive in March, describing it as the first month with positive operating EBIT.
Biomass production reached 2,161 tonnes during the quarter, supported by the Stage 2 ramp-up, while total standing biomass at quarter-end was 4,991 tonnes.
The company said Chinese imports of Atlantic salmon rose 55% year-on-year in Q1 to 46,500 tonnes, with demand continuing to grow for premium salmon products.
Nordic Aqua expects full-year harvest volumes of 5,000-6,000 tonnes HOG in 2026, with harvests weighted towards the second half as Stage 2 volumes come on stream.
Construction of Stage 2 remains on track, with first harvest from the expansion expected in September 2026. The company said the project will double annual production capacity to 8,000 tonnes.
Nordic Aqua has also commenced detailed engineering work for Stage 3, with construction potentially starting in late 2026 or early 2027.