Icelandic salmon farmer Arctic Fish reported record-high harvest volumes for the third quarter of 2025, but its financial results were significantly impacted by low market prices.
The company harvested 5,401 tonnes, a 59 per cent increase from the 3,407 tonnes harvested in Q3 2024.
Despite the record volume, the company posted an operational EBIT of €-1.21 ($-1.39) per kilogram, resulting in an operational EBIT loss of €6.6 million for the quarter.
This compares to a positive operational EBIT of €0.27 per kg, or €0.9 million, in the same period last year. Revenues for the quarter increased 40.1 per cent year-on-year to €29 million, driven by the higher volumes sold.
For the first nine months of 2025, the company harvested 10,561 tonnes, reporting an operational loss of €10.5 million on revenues of €63.6 million. Net interest-bearing debt (NIBD) decreased slightly during the quarter to €141.4 million.
The company maintained its record-high harvest volume guidance for the full year 2025 at 14,000 tonnes, which represents a 31 per cent increase from 2024.
Arctic Fish also initiated its guidance for 2026, forecasting another record year with a harvest of 17,500 tonnes, a 25 per cent year-on-year increase.
The company noted its standing biomass is up 20 per cent year-on-year to 15,797 tonnes, and it is forecasting lower cost levels and improved price achievement in 2026.
