1,000 tonnes of fish died due to algae incident

Grieg Seafood stated in a stock exchange release on Friday that an unexpected algae incident led to gill damage and increased mortality at one of the company's locations.

According to the company, the biology in the sea was good throughout August, before the situation developed negatively at the site during September.

Mortality gradually increased throughout the month. Grieg Seafood has been monitoring the situation closely and has implemented measures to limit the consequences, including a temporary halt to harvesting.

The company estimates the total biomass loss as a result of the incident to be around 1,000 tonnes.

Reducing volume guidance

The incident means that Grieg Seafood is now adjusting its expected harvest volume for the whole of 2026 from 31,000 to 29,000 tonnes.

At the same time, the expected farming cost is increased from NOK 67.5 per kilogram to NOK 71 per kilogram.

According to the company, the cost increase is mainly due to lower harvest volumes and the financial consequences of mortality.

Grieg Seafood states that the incident is not expected to affect production in 2027.

The company states that it will continue to assess the operational and financial consequences and provide further information in connection with the ordinary financial reporting.