Arctic Fish Holding reported a 158 per cent increase in second-quarter operating revenue to €32.5 million ($37.6 million), driven by higher salmon harvest volumes.
Harvest volumes reached 5,595 tonnes in the three months ended June 30, up 177 per cent from 2,020 tonnes in the corresponding period of 2025.
Year-to-date harvest volumes rose 125 per cent to 11,624 tonnes from 5,161 tonnes in the first half of 2025. Arctic Fish maintained its 2026 harvest guidance at 18,000 tonnes, which would represent a 22 per cent increase from the previous year.
Operational EBITDA improved to a loss of €0.7 million from a loss of €2.1 million in the second quarter of 2025, while EBIT was negative €10.8 million. The company recognised a negative fair value adjustment of €6 million on biological assets, compared with a €1.9 million adjustment a year earlier.
Operating cash flow turned positive at €3.6 million, compared with negative €4.3 million in the same period last year. Net capital expenditure fell to €2.7 million from €6.8 million, bringing year-to-date investment to €7 million, primarily focused on seawater operations.
At June 30, total equity stood at €80 million, representing an equity ratio of 32.8 per cent, down from 35.9 per cent at the end of the previous quarter.
Standing biomass declined 15 per cent year-on-year to 11,475 tonnes, which Arctic Fish attributed to higher harvest volumes compared with 2025.
Sales and marketing continue to be handled by majority owner Mowi under an agreement that has been in place since September 2023.
