Lerøy fish farm in Uskedal, Hordaland, Vestlandet, Norway.
Photo: Lerøy Seafood Group.
Lerøy Seafood Group has released its trading update for the final quarter of 2025, showing lower volumes across salmon, trout and wild catch compared with the same period a year earlier.
The Norwegian seafood group harvested a total of 49,300 GWT of salmon and trout in Q4 2025, down from 56,800 GWT in the same quarter last year, according to a trading update released on Tuesday. The figures exclude volumes from Scottish Seafarms.
However, the weaker quarter contrasts with Lerøy’s performance over the full year. Total harvested volumes for 2025 reached 195,600 GWT, an increase of more than 14% from 171,200 GWT in 2024, reflecting higher production earlier in the year.
Harvest volumes varied significantly across Lerøy’s farming regions during the quarter. In northern Norway, Lerøy Aurora reported growth, harvesting 16,400 GWT, up from 15,400 GWT a year earlier.
However, the group's other farming businesses reported a drop in output. In western Norway, Lerøy Sjøtroll harvested 16,800 GWT, down from 18,800 GWT last year, including 7,900 GWT of trout, compared with 8,200 GWT in the previous period. Meanwhile, in Trøndelag, Lerøy Midt recorded the sharpest decline, with volumes falling to 16,200 GWT from 22,600 GWT in the final quarter of 2024.
Lerøy also reported lower wild catch volumes through its fishing arm, Lerøy Havfisk. Total catch volumes in Q4 2025 amounted to 7,600 tonnes, including 2,700 tonnes of cod, down from 9,800 tonnes, including 3,100 tonnes of cod, in the same quarter of 2024.
For the full year, wild catch volumes declined to 57,700 tonnes, compared with 65,000 tonnes in 2024, continuing a downward trend seen in recent years, largely attributed by the company to reductions in cod quotas.
Leroy CEO Henning Beltestad said in November that the decline in cod volumes had been offset in recent months by "record-high" cod prices. "There are prospects for further reductions in already low cod quotas in 2026. However, there are indications that the quota will increase again from 2027," he suggested during the group's Q3 results presentation.
In the third quarter of 2025, Leroy Seafood saw its profits drop by 96% year-on-year, as a cocktail of weak salmon prices and high sea temperatures caused major losses for the group's farming business - although its value-added operations nearly doubled their profit.
Lerøy's full fourth quarter financial report for 2025 will be published on 24 February 2026.
