Salmon Evolution reported revenues of NOK98.7 million ($9.3 million) for the fourth quarter of 2025. It noted that farming operations reached breakeven when excluding costs associated with the expansion of its Indre Harøy facility.
The company recorded a group EBITDA loss of NOK8.4 million following the harvest of 1,203 tonnes HOG. It attributed the financial results to high supply growth which placed continued pressure on market prices during the period.
Chief Executive Officer Trond Håkon Schaug-Pettersen said that while the quarter was affected by market prices, “the underlying financial development was in line with our expectations.” He added that the company prioritised 2026 by entering the year with record biomass levels.
Testing and commissioning are currently underway for the second phase of the Indre Harøy project. Salmon Evolution stated that the first smolt release is scheduled for April 20.
Construction of the second phase is approximately 70 per cent completed, with process installations now serving as the primary focus. “Phase 2 is on track and approximately 70 per cent completed, and we clearly see that the learnings from Phase 1 have been translated into tangible improvements,” said Schaug-Pettersen.
The company stated it plans to release 2.8 million smolt throughout 2026. It added that this represents a 65 per cent increase in smolt releases compared to the figures recorded in 2025.
Schaug-Pettersen said that with the next smolt release less than 60 days away, “we are entering the scale-up phase for Salmon Evolution, supported by a proven platform and positioned to double production capacity over the next 12 months.”
The company also confirmed it has updated its partnership model in South Korea to reflect its current priorities. It added that these include the execution of the second phase of the Indre Harøy project.
