Following the divestments carried out last year, Grieg Seafood has put its operational focus on Rogaland and post-smolt.
Photo: Grieg Seafood.
Grieg Seafood has reported weaker production in the first half of 2026, with harvest volumes falling to 13,788 tonnes, as its majority shareholder Grieg Aqua prepares for an ownership change which will see Belgian investment group Ackermans & van Haaren take a 37.5% stake in the business.
The Norwegian salmon farmer harvested 13,788 tonnes during the six months to the end of June, down from 16,269 tonnes in the same period of 2025. Operational EBIT/kg was NOK 0.6 in the Farming segment, while the Sales and VAP segment recorded operational EBIT/kg of NOK 1.1.
Grieg Seafood described seawater production during the period as "challenging", although it reported continued strong freshwater production in Rogaland, where average smolt size approached 1.3 kg during the first half. In Q1 the company reported a difficult start to the year due to impacts of sea lice, and in its Q2 operational update its challenges continued with a decline in harvest volumes in Rogaland of 37% year-on-year.
However, presenting its H1 results, the company said it entered the second half of the year with biomass close to its maximum allowed level following a recovery from the difficulties experienced earlier in the period.
Looking ahead, Grieg Seafood said it is working to limit the impact of higher input costs. The company expects targeted optimisation measures, including the introduction of land-based protein sources, to offset around half of a feed price increase taking effect in the third quarter.
Meanwhile, its value-added processing facility at Gardermoen near Oslo airport, which began production in early January, is approaching the end of its ramp-up phase, with the company stating it is now focusing on optimising operations.
The company has also refinanced its initial hybrid bond through a new financing structure that it said had reduced its overall cost of capital.
One day after publishing its half-year results, Grieg Seafood announced that the Grieg family had agreed to divide the assets of the wider Grieg Group, resulting in a change in ownership of Grieg Aqua.
Grieg Aqua owns 50.17% of Grieg Seafood and will be allocated to the Willumsen Grieg family branch and the Grieg Foundation as part of the reorganisation.
The Willumsen Grieg family has also entered into an agreement to sell 37.5% of the shares in Grieg Aqua to Belgian investment company Ackermans & van Haaren, for an undisclosed sum.
In its stock exchange announcement confirming the deal, Grieg Seafood stated that it is not a party to the family reorganisation or the share transaction, but described the "professional and long-term ownership represented by Ackermans & Van Haaren and Willumsen Grieg" as providing "a solid foundation for Grieg Seafood ASA's future strategic execution."
The change comes after a major overhaul of Grieg Seafood's business following the sale of its Canada and Finnmark businesses to Cermaq at the end of 2025, with the company now focused on salmon farming in Rogaland in western Norway.