Salmon Evolution reports strong third quarter, achieving "near-record biomass"

Salmon Evolution has announced its Q3 2024 operational update, reporting "strong" results, with steady improvements in production metrics and excellent fish health.

The company is maintaining its full-year harvest guidance, having harvested 680 tonnes of head-on gutted (HOG) salmon in Q3 and confirmed its target of approximately 2,500 tonnes HOG for the second half of the year, bringing the total expected harvest for 2024 to around 5,000 tonnes HOG.

Key operational highlights from Q3 include a superior grade share of 98%, an average salmon weight of 3.3 kg HOG (up 10% from Q2), and an all-in price realization of NOK 72 per kg.

The standing biomass achieved by Salmon Evolution at its Indre Harøy hybrid flow-through facility at the end of the quarter reached 2,582 tonnes live weight (LW), indicating solid growth momentum, the company said.

"Biomass production is steadily improving at Indre Harøy, with a wide range of initiatives ongoing to take out the full growth potential”, CEO of Salmon Evolution, Trond Håkon Schaug-Pettersen said in a press release.

“The standing biomass is close to record levels going into Q4, which together with a further increase in expected harvest weights, makes us well positioned to capitalize on the expected price rebound”, he added.

Salmon Evolution's full third-quarter report is expected to be released on 7 November 2024.