SalMar reported a strong fourth quarter in 2025, supported by lower costs across the value chain and rising market prices, while full-year harvest volumes exceeded 300,000 tonnes for the first time.
Group operational EBIT for the fourth quarter was NOK 1,834 million ($183.4 million), compared with NOK 1,489 million ($148.9 million) a year earlier, but slightly below a market expectation of NOK 1,869 million ($186.9 million). Harvest volumes totalled 84,100 tonnes, with operational EBIT per kg of NOK 21.8 ($2.18).
In Norway, operational EBIT was NOK 1,843 million ($184.3 million) on harvest volumes of 80,300 tonnes, corresponding to NOK 23.0 ($2.30) per kg.
For full-year 2025, SalMar said the group, including associated companies, harvested 300,900 tonnes, passing the 300,000-tonne mark for the first time.
Chief executive Frode Arntsen said 2025 had been a strong operational and biological year, with improvements now reflected in lower harvesting costs across all segments.
The company reported continued strong performance in Norway, improved results from Icelandic Salmon driven by lower costs, and a weak result from Scottish Sea Farms. Contribution from Sales & Industry declined due to higher market prices.
The board proposes a cash dividend of NOK 10.00 ($1.00) per share for the 2025 financial year.
Looking ahead, SalMar expects lower investment levels in 2026, with planned capital expenditure of NOK 1.1 billion ($110 million), mainly related to maintenance. The company said it enters 2026 with record-high biomass at sea and the highest share of superior-quality fish seen in ten years.
SalMar maintained its 2026 volume guidance of 296,000 tonnes in Norway, Ocean and Iceland, while reducing Scottish Sea Farms guidance by 2,000 tonnes to 43,000 tonnes on a 100% basis. Adjusted for ownership, expected group volumes are 318,000 tonnes, up 6% year on year.
