Salmon Evolution CFO Trond Vadset Veibust (left) and CEO Trond Håkon Schaug-Pettersen (right) at Indre Harøy.
Photo: Salmon Evolution.
Salmon Evolution has released its Q1 2025 operational update, announcing a strong start to the year with record-breaking production levels and a new all-time high in standing biomass.
The land-based salmon farming company continues to build momentum, with stable operations and good biological performance underpinning its growth strategy.
"We continue to see stable operations across the farm with strong biological KPIs. Coupled with a new production record in Q1 and also hitting our standing biomass target, we are very well positioned for continued operational improvement over the coming quarters", said Salmon Evolution CEO, Trond Håkon Schaug-Pettersen.
During the first quarter, Salmon Evolution achieved a standing biomass of 2,939 tonnes live weight (LW), marking a 45% increase from the previous quarter and surpassing its previous record.
The company also set a new production record, delivering 1,624 tonnes LW, up 7% from Q4 2024, as it steadily ramps up towards its full operational capacity.
Harvest volumes, however, came in lower at 581 tonnes head-on gutted (HOG), which the company said was the result of a deliberate strategic decision to prioritise biomass growth over short-term harvesting.
The all-in price realisation for harvested fish in Q1 2025 was approximately NOK 75 per kilogram, down from the NOK 108/kg achieved during the same period last year.
Presenting Salmon Evolution's end-of-year results for 2024 in February, Schaug-Pettersen said the company was "entering 2025 with a fully stocked farm and a positive trend, providing strong growth momentum going forward."
The company is currently in the midst of the Phase 2 expansion project at its Indre Harøy hybrid flow-through facility which, once completed, will give Salmon Evolution a production capacity of 36,000 tons HOG.
