Proximar Seafood's biomass grows amidst production optimization efforts

Proximar Seafood AS reported a standing biomass of 1,389 metric tonnes as of September 29, 2025, an increase from 1,294 metric tonnes at the end of Q2 2025. Including harvested biomass of 429 metric tonnes live weight (LW) in Q3, gross biomass growth reached 524 tonnes. The company currently has 21 batches with approximately 2.2 million salmon in production, maintaining low mortality across batches and 99.2% superior quality in harvested fish.

During Q3 2025, Proximar harvested 356 tonnes (HOG), bringing the year-to-date total to approximately 1,000 tonnes HOG. Growth was impacted by increased starvation days due to fish transfers to the final operational module and ongoing optimization of the feeding system. The average harvest size was approximately 2.33 kg (HOG).

The average net selling price in Q3 was NOK 64/kg. However, salmon weighing 3 kg+ achieved NOK 94/kg (net to Proximar), demonstrating a solid premium over imported Norwegian salmon. Proximar notes strong interest in its Fuji Atlantic Salmon, with increasing demand from countries including Korea, Vietnam, Philippines, and UAE. The company anticipates improved growth rates and market-sized fish as production conditions stabilize.