Lower harvest volumes impact Scottish Sea Farms Q1 profits
But next generation of fish is performing well
Scottish Sea Farms (SSF) harvested 5,391 tonnes gutted weight tonnes in Q1 2026, down 36% from 8,414 gwt in the same period last year.
The company made an operating profit of NOK 7 million (£563,920), down from NOK 77m in 2025, but an improvement on fourth quarter operating losses.
“Lower volumes adversely impacted unit costs, particularly within wellboat operations and processing,” co-owner Lerøy said in its Q1 2026 report today.
Biological challenges
The results of SSF, which is owned 50-50 by Norwegian fish farming heavyweights Lerøy and SalMar, were also affected by high biomass costs following biological challenges in 2025. Consequently, EBIT per kg declined from NOK 9.2 in Q1 2025 to NOK 1.3 in Q1 2026.
The next generation of fish is performing well, said Lerøy, with harvest volume guidance for 2026 unchanged at 43,000 tonnes gwt.
Lerøy Seafood Group saw a drop in profits in the first quarter, caused by lower prices, freight volatility and a stronger Norwegian krone.
Despite strong biological performance in Q1 and a four per cent rise in harvest volumes, the group's operational EBIT was down to NOK 858 million (£68.7 million) from NOK 1,049 million in the same period last year.
