Scottish Sea Farms recorded an £11.85 million (US$15.7 million) operating loss for 2025, reversing a £42.26 million (US$56 million) profit in 2024, as turnover fell £86 million (US$110 million) to £233 million (US$309 million).
Gross profit declined to £2.64 million (US$3.5 million) from £57.9 million (US$76.7 million). The group posted a £26.4 million (US$35 million) pre-tax loss, against a £24.2 million (US$32.1 million) pre-tax profit a year earlier.
A £7.2 million (US$9.5 million) tax rebate reduced the after-tax loss to £19.2 million (US$25.4 million).
“The markets for salmon dropped in price due to increased global supply and although this has helped build market share, it has impacted this year’s result, alongside a challenging biological environment in Q4 2025 impacting the group’s overall performance,” the company’s directors said in the accounts.
The FAO estimated that global Atlantic salmon production rose 13.6 per cent year on year to around 1.39 million tonnes in the first half of 2025. Scottish Sea Farms joint owner the Lerøy Seafood Group also reported low salmon prices and high farming costs for the third quarter.
Scottish Sea Farms said Shetland’s sea temperatures reached record highs in 2025; plankton blooms and micro-jellyfish episodes then affected gill health at some sites.
It recorded a Q4 operating loss of £14.2 million (US$18.8 million), with harvest volume falling to 5,500 gutted-weight tonnes (GWT) from 9,000 GWT a year earlier.
Scottish Sea Farms’ 2026 harvest guidance was cut from 45,000 to 43,000 GWT following the biological problems in late 2025.