Atlantic Sapphire revenue nearly doubles in first half of 2025

Land-based salmon farmer Atlantic Sapphire has reported a significant improvement in its operational and financial results for the first half of 2025, with revenue almost doubling to $21.5 million from $11.1 million in the same period last year. The company described the results as a "turning point".

The improved performance was driven by strong biological and operational metrics. Harvest volumes for the first half of the year increased to 2,486 tonnes (HOG), up from 2,384 tonnes in the first half of 2024. Average harvest weights nearly doubled to 2.86 kilograms, reaching 3.1 kilograms in the second quarter, while sales prices increased by 86 per cent to $8.67 per kilogram. The company also noted record-low mortality and continued improvement in system reliability.

The company's EBITDA for the first half of 2025 was negative $30.7 million, a material improvement from the negative $46.6 million recorded in the first half of 2024. The company confirmed it remained in compliance with all financial covenants at the end of the period.

Pedro Courard, CEO of Atlantic Sapphire, stated that with operations now stable and biological performance at record levels, the company has a "clear line of sight to profitability". He added that the company expects to deliver its first positive EBITDA quarter by the end of 2026.