Stolt Sea Farm's site in Cervo, Galicia, Spain.
Photo: Stolt Sea Farm.
Sole and turbot farming company Stolt Sea Farm (SSF) has reported a decline in revenue and operating profit for the second quarter of 2025, despite continued strength in sales prices for both of its farmed fish species.
The aquaculture company, part of the Stolt-Nielsen Limited group of companies, currently has an annual production capacity of 7,200 tonnes of turbot and 1,800 tonnes of sole. During the second quarter, it recorded revenue of $29.7 million, a drop from $31.6 million during the same period last year, while operating profit before fair value adjustments stood at $6.6 million, down from $8.2 million in Q2 2024. Stolt-Nielsen said this was " predominantly due to higher operating expenses".
Meanwhile, although market prices for turbot and sole rose by 5.7% and 7.2% respectively year-on-year, sales volumes also fell, Stolt-Nielsen reported, however this in turn was attributed to a strategic focus on recovering biomass following high sales volumes in the first quarter.
The company also reported a $1.1 million loss linked to the fair value adjustment of biomass, reversing a gain reported in the same period last year.
“The second quarter was an opportunity for Stolt Sea Farm to rebuild biomass after the strong Christmas sales period, ahead of the peak summer season. With inventory levels remaining tight through the second quarter, sales prices were maintained at record-high levels," said Stolt-Nielsen group CEO Udo Lange, via a press release.
The company further stated that pricing "remains firm" and that the recovery in biomass means "we are well positioned for the typically seasonally strong summer period".
In 2024, SSF achieved its highest-ever sales volumes, of 6,861 tonnes of turbot (up 0.7% compared with 2023) and 1,806 tonnes of sole (up 4.5%). The company also saw a 30% year-on-year increase in sales of value-added products last year.
Last October, the company began construction of a new RAS facility in Tocha, Portugal, supporting SSF's goal to double sole production over the next three years and reach a combined 23,000 tonnes of annual production by 2035.
In March of this year, Stolt-Nielsen indicated that SSF was looking to expand into the US, and was in the process of "actively screening" potential sites for its RAS sole-farming technology. Most recently, in May 2025, local authorities in Spain confirmed that Stolt Sea Farm is investing €44 million in a new flatfish processing plant in Galicia, expected to create 173 direct jobs.
Stolt Sea Farm reported another achievement during the spring, with the news in April that it has secured Aquaculture Stewardship Council (ASC) certification for all its farms, the only farmed turbot producer in the world to do so.
