Bakkafrost announced on Mar. 27 the publication of its 2025 Integrated Annual Report, which offers a detailed overview of the company’s financial, environmental, social, and governance performance over the past year.
The release of this report is important as it provides stakeholders with insight into Bakkafrost’s operations during a period marked by market challenges and changing industry conditions.
According to the company, Bakkafrost faced a difficult market environment in 2025 due to increased global supply and continued pressure on salmon prices. Despite these factors, the group reported strong biological results and maintained strategic discipline across its operations in both the Faroe Islands and Scotland. The company stated that it generated operating revenues of DKK 7.0 billion and an operational EBIT of DKK 888 million for the year. Harvest volumes increased significantly to 106,823 tonnes gutted weight from 90,656 tonnes in 2024. The equity ratio was reported at 58%, supporting ongoing investments and dividend payments. The Board will propose a dividend of DKK 3.45 per share at its April annual meeting.
Operational highlights included record biological performance in the Faroe Islands with high growth rates, low mortality rates, controlled sea lice levels, and record production from freshwater operations at nearly 18.7 million large smolt. In Scotland, average harvest weights improved as part of a transition toward large-smolt farming practices.
The company emphasized that there was zero antibiotic use or fish escapes recorded across all locations in both countries during the year.
Bakkafrost also outlined progress toward climate goals set under science-based targets—aiming for significant reductions in greenhouse gas emissions by 2030—even as overall emissions rose due to increased production activity. Initiatives include participation in wind power projects such as Eysturlund wind farm and carbon capture pilots like DecarbFaroe.
The group noted contributions to local communities through salary payments totaling DKK 947 million and local procurement accounting for more than half its spending while continuing support via community programs such as the Healthy Living Fund.