Salmon Evolution ASA (OSE: SALME) reports revenues of 91.1 NOKm after harvesting 1,232 tonnes HOG in the second quarter. Results were impacted by weak salmon prices and temporarily higher farming costs due to non-recurring factors, with Farming EBITDA ending at -13.2 NOKm and Group EBITDA at -25.6 NOKm in the quarter.
Salmon Evolution maintains stable operations, a fully stocked farm and minimal mortality. The biomass composition was fully normalized during the quarter, positioning Salmon Evolution for continued positive development in operational KPIs and harvest weights in coming periods.
“With a strong operational platform at the core we will continue to scale production, harvest and harvest weights,” said Trond Håkon Schaug-Pettersen, CEO of Salmon Evolution. “We are well positioned to capitalize on an expected salmon price recovery in 2026,” he said.
Salmon Evolution had continued good progress in the phase 2 expansion project at Indre Harøy, and the project remains on track for targeted first smolt release in Q1-26 and first harvest in Q4-26.
“Momentum at the construction site remained strong throughout the quarter with installation of both intake pipes being a highlight,” said Schaug-Pettersen. “With Phase 2 we are creating a unique operational platform and the first smolt release is only about 7 months away.”
Highlights in the quarter:
- Indre Harøy phase 2 progressing according to plan, on track for first smolt release in Q1-26.
- Continued stable operations in a fully stocked farm and minimal mortality. Ending Q2 2025 with a standing biomass of 3,043 tonnes LW and all-time high underlying biomass production.
- Revenues of 91.1 NOKm after harvesting 1,232 tonnes HOG, farming EBITDA of -13.2 NOKm and group EBITDA of -25.6 NOKm. Results impacted by weak salmon prices and temporarily higher farming costs due to non-recurring factors related to harvest of underperforming groups affected by last year’s smolt quality issues.
- Strengthening financial flexibility with a new credit facility of up to 250 NOKm, as well as increasing the overdraft facility with 50 NOKm.
Results presentation:
CEO Trond Håkon Schaug-Pettersen and CFO Trond Vadset Veibust will present the the results for the second quarter 2025 at Hotel Continental in Oslo, Norway, Tuesday 19 August at 08:00 CEST.
The presentation and Q&A will be held in English, and participants may also follow the presentation and submit questions through a live webcast available on www.salmonevolution.no, or with the following link: https://events.webcast.no/salmon-evolution/OEpmPDaoyhi5siPjdg0b/gJV4Xu2nLbDI18a1F1bp
A recording of the webcast will be made available on our website shortly after the presentation.