Land-based salmon farmer Atlantic Sapphire has provided an operational update for the third quarter of 2025, reporting a total harvest volume of 1,427 tonnes head-on gutted (HOG).
The company noted stable biological performance, with fish in production achieving survival rates above 99 per cent and harvest weights remaining above three kilograms.
The average sales price for the quarter was approximately $8.58 per kilogram, representing a 19 per cent premium over comparable price indexes.
The company achieved a record-high premium share of 95 per cent. Operational improvements included feeding rates at all-time highs and a biological feed conversion ratio sustained at 1.30.
Costs in the third quarter were elevated due to one-off maintenance and infrastructure upgrades. Atlantic Sapphire stated that efficiency measures are expected to drive the cost per kilogram down starting from the first quarter of 2026.
The company successfully placed a $35 million convertible loan to fund Phase 1 operations towards EBITDA break-even.
Looking ahead, the company expects to reach a full-year production of 7,000 tonnes and become EBITDA positive by the end of 2026.
Pedro Courard, CEO of Atlantic Sapphire, said, “Our operations continue to perform consistently, with stable biology, strong fish health, and improving production efficiency across all systems. Survival rates remain above 99 per cent, harvest weights are consistently above 3 kilograms, and feeding efficiency has reached structural highs.”
