Grieg Seafood reported sales revenue of NOK1.834 billion ($196 million) for the first half of 2026, down from NOK1.942 billion in the corresponding period of 2025.
The Norwegian salmon farmer recorded an operational EBIT loss of NOK30 million, compared with an operational EBIT profit of NOK291 million a year earlier.
Biological challenges during the first quarter reduced seawater production quality in Rogaland and increased group farming costs to NOK70.9 per kilogram.
Despite the production issues, stronger freshwater output prompted the company to raise its full-year harvest guidance by 1,000 tonnes to 31,000 tonnes.
Harvest volumes reached 13,788 tonnes during the first six months, while average harvest weight declined to 4.8 kilograms from 5.1 kilograms. Global salmon supply increased by approximately three per cent during the period, according to estimates cited in the company's report.
Net loss after tax was NOK145 million, reflecting lower market prices and weaker price achievement for downgraded fish. An overhead cost reduction programme generated NOK60 million in savings, with further measures under consideration for the second half of the year.
Chief Executive Officer Nina Willumsen Grieg said returning to historical cost levels would require continued cost control and operational improvements.
The company expects operational EBIT to improve and farming costs to decline during the remainder of 2026. Harvest volume for the second half is forecast at approximately 17,200 tonnes.