Norwegian salmon farmer SalMar has reported its financial results for the third quarter of 2025, with performance marked by low market prices for salmon.
The group's operational EBIT was NOK711 million ($65.5 million). This was achieved on a record-high harvest volume of 93,200 tonnes, resulting in an operational EBIT per kilogram of NOK7.6.
For its Norwegian operations, operational EBIT was NOK858 million from a harvest of 89,400 tonnes, equating to NOK9.6 per kilogram.
The company stated that its underlying cost development was positive, and biological performance was strong, particularly in Northern Norway. The sales and industry division also delivered strong results.
However, the overall financial result was negatively impacted by weak results from Icelandic Salmon due to continued high costs. Frode Arntsen, CEO of SalMar, noted that low market prices led to "weak financial results," but the, "record-high harvest volume and the flexibility of our harvesting and processing facilities demonstrate the potential in our value chain."
During the quarter, the merger with Wilsgård was completed in August, strengthening SalMar's presence in Northern Norway. Looking ahead, SalMar entered the fourth quarter with a record-high biomass and expects positive cost development to continue.
The company's total harvest volume guidance for 2025 is expected to be 299,000 tonnes, a 19 per cent increase compared to 2024. For 2026, the volume is expected to increase by a further seven per cent to 319,000 tonnes.
SalMar anticipates limited global supply growth in 2026 alongside continued strong demand for its products.
