Grieg Seafood reported an operational profit of NOK433 million ($41 million) for the 2025 fiscal year, representing a profit of NOK14.2 per kilogram.
The company completed the divestment of its operations in Finnmark, British Columbia, and Newfoundland to the Cermaq Group on December 29, 2025, for an enterprise value of NOK10.2 billion.
The group utilized the proceeds from the sale to repay all legacy debt and ended the year with a cash balance of NOK5 billion.
Chief Executive Officer Nina Willumsen Grieg stated that the company made a carefully considered decision to concentrate its operations in Rogaland, where biological results are strongest and the cost position is most competitive.
In the Rogaland region, the company harvested a record 30,462 tonnes, which was approximately 500 tonnes above initial guidance. Farming costs in the region improved to NOK61.4 per kilogram compared to the previous year, while the operational profit reached NOK19.1 per kilogram.
Grieg Seafood stated it is focused on its post-smolt strategy as a primary driver for future development. The company transferred larger smolt to sea with an average weight of 1,000 grams in 2025, an increase from 700 grams in 2024.
The larger post-smolt spend 36 per cent fewer days at sea and require 50 per cent fewer sea lice treatments over their lifecycle. Grieg noted that this technology improves both the cost position and the ability to protect fish welfare.
The company completed construction of a secondary processing facility at Oslo Airport Gardermoen during the fourth quarter of 2025. This plant has a capacity of 10,000 tonnes and is expected to increase the value of salmon through added processing, the company remarked.
Grieg Seafood expects a harvest volume of 31,000 tonnes for 2026 as supply growth slows globally.
Forward prices for 2026 are currently approximately €7.60 per kilogram, according to a company report.
