SalMar said its first quarter of 2025 was characterised by a low harvest volume whereby the majority of the volume was harvested late in the quarter.
The company said its focus in the quarter was to build biomass so that increased volume would be harvested later in 2025.
The harvest volume for Norway was 40,400 tonnes and 42,700 tonnes overall.
"The result from the farming segments in Norway is characterised by harvesting late in the period and that fish have been harvested as a result of fish welfare considerations, which resulted in a low average weight," said SalMar.
"Furthermore, the share of downgraded fish has been high. In sum, this has had a negative impact on price achievement in the quarter.
"As expected, Icelandic Salmon harvested a low volume, and the cost is still high.
"Scottish Sea Farms reported another good quarter with increased harvest volume, high harvest weight and good biological status in the sea in all regions."
“In short, we are pleased with the development in growth and survival in the sea, but financially it is unfortunately weak as a result of harvesting late in the period and the quality of harvested fish in the quarter,” added Frode Arntsen, CEO of SalMar.
In February 2025, SalMar completed the purchase of a controlling stake in Knutshaugfisk, which currently has 3,466 tons MTB in licenses and four farming locations in production area 6 in central Norway.
In April, the board of directors of Wilsgård and SalMar announced that they had approved a merger plan for Wilsgård and SalMar Farming.
Since SalMar’s acquisition of NTS and the merger with NRS in 2022, it has owned a 37.5 per cent stake in Wilsgård. Wilsgård currently has a strong presence on Senja and has 5,844 tons MAB in licenses in production areas 10 and 11 in northern Norway.
The merger is expected to be completed during the summer of 2025.
”Wilsgård is a well-run company that, like SalMar, operates aquaculture in one of the best areas in the world for salmon production," said Arntsen. "
This merger will not only strengthen our position in the region, but also contribute to increased operational efficiency, cost reductions and financial robustness. We have great ambitions for the future and look forward to further developing the combination of our companies.”
For 2025, SalMar expects 256,000 tons in Norway, 7,000 tons from SalMar Ocean, 15,000 tons in Iceland and 32,000 tons from Scottish Sea Farms in total. Given the relative share from Scottish Sea Farms, a total of 294,000 tons is expected for the group, a 17 per cent growth in harvest volume compared to 2024.