Scottish Sea Farms raises harvest guidance for 2025
Salmon farmer reports good biology, but weak financial results in year of low prices
Salmon producer Scottish Sea Farms (SSF) has increased its 2025 harvest volume guidance by 1,500 gutted weight tonnes to 33,500 gwt due to good biological development, co-owner SalMar said in its Q3 2025 report today.
SSF has reported good harvest weights in the period, although revenue, operating profit, and harvest volume in Q3 were all lower than in the same period last year, when prices were higher.
The company harvested 7,200 gwt in Q3, down from 11,900 gwt in Q3 2024, and made revenue of NOK 679 million (Q3 2024: NOK 1.176 billion). EBIT per kilo fell from NOK 7.6 in Q3 2024 to NOK 1.2, and operating profit plunged by more than 90%, from NOK 90m to just NOK 8m (£600,000).
SSF made a pre-tax loss of NOK 47m in the quarter, and in the first nine months of 2025 has made a pre-tax loss of NOK 82m (£6.1m).
SSF, jointly owned by Norwegian salmon farmers SalMar and Lerøy Seafood Group, is Scotland’s second biggest salmon farmer, after Mowi Scotland, and expects to increase production to 45,000 gwt next year.
SalMar
Operational EBIT for SalMar was NOK 711m, down from NOK 1.041bn in the same period last year.
The harvest volume for the group was a record-high 93,200 gwt, and operational EBIT per kg was NOK 7.6.
“Low market prices for salmon during the period resulted as expected in weak financial results in the third quarter. 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,” said chief executive Frode Arntsen.
For 2025 total harvest volume is expected to be 299,000 gwt for the group, representing a 19% increase compared to 2024.
For 2026, the volume is expected to increase. Considering the relative share from Scottish Sea Farms, the total harvest volume for the group is expected to be 319,000 gwt, an increase of 20,000 gwt or 7% compared with 2025. SalMar expects to produce 275,000 gwt in Norway and offshore operation SalMar Ocean, 21,000 gwt in Iceland, and 45,000 gwt in Scottish Sea Farms, of which it gets half.
