SalMar ASA reported a record-high harvest volume in the third quarter of 2025, alongside a reduction in cost levels and continued strong demand. Despite these operational improvements, the company’s financial results were affected by low market prices for salmon.
In Norway, SalMar achieved an operational EBIT of NOK 858 million with a harvest volume of 89,400 tons and an operational EBIT per kilogram of NOK 9.6. For the group as a whole, operational EBIT was NOK 711 million on a harvest volume of 93,200 tons, resulting in an operational EBIT per kilogram of NOK 7.6.
The share of superior quality salmon has returned to normal levels. Biological performance remains strong, particularly in Northern Norway, contributing to positive developments in cost efficiency during the period.
Sales and Industry delivered strong results due to favorable contract contributions and flexibility in harvesting and processing facilities. However, Icelandic Salmon recorded weak results because of continued high costs. Scottish Sea Farms maintained good biological performance.
The company completed its merger with Wilsgård in August, which has strengthened SalMar’s position in Northern Norway and supports further sustainable growth.
“Low market prices for salmon during the period resulted as expected in weak financial results in the third quarter. However, the record-high harvest volume and the flexibility of our harvesting and processing facilities demonstrate the potential in our value chain. The positive underlying cost development and continued strong demand for our products, set the stage for improved results going forward,” said Frode Arntsen, CEO of SalMar ASA.
Looking ahead to 2026, SalMar expects higher volumes and lower cost levels across all segments. Good biological performance at sea—especially growth and survival rates—has led to record-high biomass entering the fourth quarter. The company anticipates that this will support increased future volumes. Lower input costs combined with improved biological conditions are expected to continue reducing costs.
For 2025, SalMar forecasts a total group harvest volume of 299,000 tons—a 19 percent increase from 2024 levels. In 2026, including its relative share from Scottish Sea Farms, total group harvest is projected at 319,000 tons—an increase of about seven percent compared to 2025—with breakdowns expected at 275,000 tons from Norway and Ocean operations, 21,000 tons from Icelandic operations, and 45,000 tons from Scottish Sea Farms (on a full basis).
SalMar notes that global uncertainty has contributed to lower salmon prices throughout 2025 but expects limited global supply growth next year amid ongoing robust demand for its products.
CEO Frode Arntsen and CFO Ulrik Steinvik are scheduled to present these quarterly results today at Grand Hotel in Oslo; the event will also be webcast on www.salmar.no.
For more information:
Frode Arntsen (CEO): +47 482 06 665 / [email protected]
Ulrik Steinvik (CFO): +47 900 84 538 / [email protected]
Håkon Husby (Head of IR): +47 936 30 449 / [email protected]
SalMar operates farming activities across Central Norway, Northern Norway, offshore sites and Iceland while owning half of Scottish Sea Farms Ltd., making it one of the world’s largest producers within its sector.
Further details can be found at www.salmar.no.