The Scottish operations continued to report losses.
Bakkafrost
Faroes-headquartered salmon farming company Bakkafrost has published its results for the fourth quarter of 2025, highlighting that the at-sea biomass in its Faroese farming operations reached the highest level recorded at year-end.
Similarly, Q4 2025 achieved record-breaking performance in other key parameters, including smolt numbers, average smolt size, and mortality levels, driven by the increased stocking of large, high-quality smolt, strong growth, and high survival rates.
Thanks to this, total operational EBIT reached DKK 295 million ($47.2 million) in the fourth quarter of 2025, compared with DKK 280 million ($44.8 million) in the same period last year.
"Following a period of elevated global supply growth in 2025, the market environment improved towards the end of the fourth quarter, and we expect the salmon market to be even tighter from Q2 2026 and onwards," said CEO Regin Jacobsen.
On the other hand, fourth-quarter financial results fell short of expectations due to the persistently high global salmon supply, which put downward pressure on market prices for most of the quarter.
In addition, the farming operations in Scotland were affected by a Pasteurella outbreak at the Portree farming site, which was subsequently harvested and emptied in October, resulting in elevated mortality and lower average harvest weights for that month.
Finally, the report notes that the new hatchery in Skálavík will receive its first egg intake in Q2 2026, followed by the initial smolt production toward the end of 2027. The total smolt production capacity in the Faroe Islands is expected to reach up to 24.4 million smolt at 500 g, compared with the current 18 million.
"We will continue to execute on our strategic investments while maintaining a prudent and steady approach to growth to support long-term sustainable value creation," assured Jacobsen.