Scottish Sea Farms made £628,000 operating profit in Q2
Expect significantly higher volumes and lower cost in future, says co-owner Lerøy
Salmon producer Scottish Sea Farms made an operating profit (before adjustment for value of biomass) of approximately £628,000 (NOK 8 million) in the second quarter of 2026, an improvement on the NOK -28m operating loss made in the same period last year.
SSF harvested 8,144 gutted weight tonnes in Q2 2026, down 30% from the 11,642 gwt harvested in Q2 2025. Revenue was NOK 758m, down from NOK 1,036m in Q2 last year.
EBIT per kg improved from NOK -2.4 in Q2 2025 to NOK 1.0 in Q2 2026.
Despite the improved operating profit, SSF made a pre-tax loss of NOK -345m, compared to a profit of NOK 14m in Q2 2025. Loss after tax was NOK -268m (Q2 2025: NOK 21m).
“Cost, and thus profitability, was impacted by lower utilisation of the value chain on low volumes,” said co-owner Lerøy Seafood Group in its Q2 2026 report today. The relatively low harvest meant that unit costs rose, particularly for wellboat use and processing."
Outlook is more positive
“The next generation of fish is performing well. Expect significantly higher volumes and lower cost in coming quarters,” said Lerøy, which owns SSF 50-50 with fellow Norwegian salmon farming giant SalMar.
SSF has been transitioning from sites with a larger number of smaller pens to those with fewer but larger pens. This, among other things, has entailed a temporary reduction in harvest volumes, but SSF is now beginning to sea the results of its efforts.
Harvest guidance for 2026 is unchanged at 43,000 gwt, up from 32,791 gwt last year.
