SalMar farming site in Mefjord, Northern Norway.
SalMar has reported record-high harvest volumes for the third quarter of 2025, supported by reduced costs and strong demand, but said weaker salmon prices led to a significant decline in profitability compared with the same period last year.
Within Norway, operational EBIT was NOK 858 million (EUR 71m / USD 76m), a decrease of 21% compared with the previous year. However, the group as a whole fared worse during the quarter, with operational EBIT down 32% year-on-year, reaching NOK 711 million (EUR 59m / USD 63m).
The group's overall harvest volume in Q3 neverthless increased by 55%, from 60,300 tonnes last year to 93,200 tonnes, with Norway accounting for 89,400 tonnes of the total.
“Low market prices for salmon during the period resulted as expected in weak financial results in the third quarter," said CEO Chief executive Frode Arntsen, although he predicted the situation would improve.
"However, the record-high harvest volume and the flexibility of our harvesting and processing facilities demonstrate the potential in our value chain. The positive underlying cost development and continued strong demand for our products set the stage for improved results going forward,” he added.
The company reported that biological performance at sea had been strong, especially in Northern Norway, with improved fish growth and survival, and said reduced input costs and improved biology were expected to further support lower production costs across all segments in the final quarter of 2025.
Similar to the statements issued by rival Norwegian firm Mowi in its Q3 report yesterday, SalMar noted that 2025 has been characterised by lower salmon prices and global uncertainty but looking ahead to 2026, it predicted limited global supply growth and continued strong demand for salmon.
The company also said its merger with the nothern Norwegian salmon producer Wilsgård Fisk og Fiskeforedling, completed in August, would also result in "strengthening SalMar's presence in Northern Norway and paving the way for further sustainable growth".
With Wilsgård now part of the group, SalMar has increased its full-year 2025 volume guidance by 5,000 tonnes to 299,000 tonnes, representing a 19% increase compared with 2024, and 319,000 tonnes in 2026, up 7% year on year.
