Worker at a Grieg Seafood salmon farm in Norway.
Grieg Seafood has released its trading update for the second quarter of 2025, reporting a total harvest volume of approximately 21,800 tonnes GWT - a 42% increase from the same period last year, when the figure stood at 15,300 tonnes.
According to the company, the increase was primarily due to a significant uptick in output from its Norwegian operations. In Rogaland, harvest volumes more than tripled to 8,900 tonnes from the 2,800 tonnes achieved in Q2 2024. Finnmark also posted a significant increase year-on-year, rising to 9,000 tonnes from the 3,900 tonnes recorded last year.
Meanwhile, volumes in British Columbia fell to 4,000 tonnes, in line with Grieg's previously-stated estimate, down from 8,600 tonnes in 2024. No harvest was reported from Newfoundland, as in the previous year.
The increased Norwegian harvest volumes come as Grieg Seafood continues to implement its "financial transformation" strategy. Reporting the company's Q1 results in May, interim CEO Nina Willumsen Grieg said the company aimed to “shift from growth to profitability”, with a renewed focus on Norway and a decision to scale back in Canada, following what she termed an “unsustainable” financial situation after a difficult 2024 in which Grieg's EBIT fell by nearly 99%. "We will proritise initiatives that strengthen equity, reduce debt and protect cash flow," she said at the time.
The second quarter also saw the announcement that Grieg Seafood founder, CEO and Chairman Per Grieg Jr. had decided to step down after 33 years with the company.
The full Q2 2025 report is scheduled for release on 26 August.