Grieg Seafood Q2 2025 profit soars ahead of major asset sale

Grieg Seafood has reported a more than five-fold increase in operating profit from its continuing operations for the second quarter of 2025, driven by a sharp rise in harvest volumes. The Norwegian salmon farmer posted an operational EBIT of NOK91 million ($8.6 million) for the three months to June 30, a substantial increase from the NOK18 million recorded in the same period last year.

The company said the result came as it prepares for a major strategic shift, having agreed to sell its operations in Finnmark and Canada.

The improved profitability was underpinned by a more than threefold increase in harvest volume from its continuing operations, which reached 8,850 tonnes.

The company noted good freshwater and seawater production across all its regions. The results come as Grieg streamlines its business to focus on its Rogaland operations, following the agreement signed in July to sell its Finnmark and Canadian assets to Cermaq Group for NOK10.2 billion.

Looking ahead, the company is targeting a harvest volume of 30,000 tonnes for the full year 2025 from its continuing operations, with an expected harvest of 8,000 tonnes in the third quarter. The move represents a new direction for the company, with a streamlined business model focusing on its Rogaland assets, sales, and a lean headquarter support structure.