Lerøy Seafood Group has reported an operational EBIT of NOK15 million ($1.4 million) for the third quarter of 2025.
The company stated the result reflects a challenging quarter for its farming segment, which was impacted by low salmon prices and difficult biological conditions driven by high sea temperatures.
The farming segment posted a negative operational EBIT of NOK-306 million for the quarter. The company noted that the spot price for salmon in Q3 was NOK8 per kilogram lower than in the same period last year.
Costs per kilogram were also higher than in the previous quarter due to high sea temperatures and significant sea lice pressure.
In contrast, the value-added processing, sales, and distribution segment delivered a record-high operational EBIT of NOK410 million in the third quarter.
The company's wild catch segment, which is in its low season, reported an operational EBIT of NOK3 million, with record-high cod prices offsetting a decline in catch volumes.
Henning Beltestad, CEO of Lerøy Seafood Group, described the quarter as "mixed" but noted that the company is heading in the right direction from a long-term perspective. "The measures we have implemented are showing clear improvements," he said.
Looking ahead, the company expects the cost per kilogram in farming to be lower in 2026 than in 2025 and anticipates a more balanced salmon market next year.
The harvest volume guidance for its Norwegian operations in 2025 remains unchanged at 195,000 tonnes, with the same volume also expected in 2026.
Including its share of Scottish Seafarms, the total group harvest volume is expected to be 217,500 tonnes in 2026.