Industry – July 21, 2026
Sekkingstad: revenue falls 30% as weaker salmon prices weigh on sales
Norwegian seafood trader and processor Sekkingstad reported revenue of NOK 3.30 billion (€297 million) in 2025, down 30% from NOK 4.74 billion (€427 million) the previous year.
The Øygarden-based company attributed the decline to lower salmon and trout prices and a modest reduction in sales volumes. Sekkingstad primarily exports whole fish and carries out limited value-added processing.
Operating profit edged down to NOK 35.5 million (€3.2 million) from NOK 37.6 million (€3.4 million). However, the operating margin increased to 1.1% from 0.8%, according to original reporting by iLaks.
Other operating costs fell to NOK 15.4 million (€1.4 million) from NOK 23.7 million (€2.1 million). Sekkingstad has launched a cost-reduction programme targeting further savings in 2026.
The company also reduced inventories, receivables and trade payables during the year. Equity increased to NOK 187 million (€16.8 million), lifting its equity ratio to 30% from 21%.
The board described the result as “not satisfactory”, citing US tariff increases, geopolitical uncertainty, currency risk and difficult raw material market conditions. It nevertheless said the performance was acceptable given market conditions towards the end of the year.
No dividend was declared. Net profit of NOK 24.6 million (€2.2 million) was allocated to group contributions and retained equity.
Sekkingstad employed 34 full-time equivalents in 2025, down from 37. The company is wholly owned by Bård Sekkingstad through Trient, which also holds a 50% stake in the harvest vessel Norwegian Gannet, now planned for sale.
