Icelandic Salmon swings to €11.3m loss despite higher harvest

Icelandic Salmon AS swung to an operational loss of €11.3m in H1 2025 from a €4.3m profit the previous year, despite harvest volumes rising to 5.1 thousand tonnes from 3.5 thousand tonnes.

The company was hit by biological challenges, particularly BKD disease in its 2023 generation, leading to increased mortality and higher costs. Global supply pressure also drove down salmon prices.

Icelandic Salmon cut its 2025 harvest guidance from 15.0 to 13.0 thousand tonnes and expects continued high costs in Q3. Its equity ratio fell from 55% to 47%.