ScaleAQ reported record revenues and earnings for 2025, although the aquaculture technology supplier warned that weaker salmon farmer profitability and geopolitical uncertainty could weigh on short-term market conditions.
The company posted operating revenues of NOK 4.5 billion (€418.5 million) in 2025, up 20 per cent from the previous year.
EBITDA approached NOK 600 million (€55.8 million), while operating profit rose to NOK 412 million (€38.3 million) from NOK 254 million (€23.6 million) in 2024.
ScaleAQ said growth was driven by strong demand across its farming technology and vessel businesses, particularly in subsea systems, feed technology and vessel deliveries.
The company said improved margins reflected a stronger product mix alongside higher revenues.
Chief financial officer Svein Vestermo said the results exceeded internal targets and reflected implementation of a strategy launched in 2024.
The company also said it surpassed 1,000 employees globally during the year.
Despite the stronger results, the board pointed to weaker profitability among salmon farmers during 2025 following lower salmon prices and rising costs.
ScaleAQ said geopolitical tensions, higher oil prices and raw material inflation were also creating uncertainty around short-term growth prospects.
“The full impact of these developments on the group remains too early to determine,” the company said.
The board said long-term demand for aquaculture technology remained supported by global protein demand and the need for improved fish welfare and sustainability performance.
