Bakkafrost Q3 2025: record Faroese biology offsets market headwinds

Bakkafrost Group achieved a Q3 2025 operational EBIT of DKK 22 million, a decrease from DKK 173 million in Q3 2024, attributed to weak market prices and high global supply. Despite this, the Faroe Islands farming operations delivered record survival rates, strong growth, and a 14% year-on-year reduction in farming costs in Q3, reflecting robust biology. Revenues for the Faroe Islands stood at DKK 1,405 million with an operational EBIT of DKK 227 million. In Scotland, performance deteriorated due to a disease outbreak, resulting in revenues of DKK 282 million and an operational EBIT of DKK -205 million.

The Group transferred a combined 8.4 million smolts in Q3 2025 across the Faroe Islands and Scotland, with the Applecross hatchery ramping up production of high-quality smolt. Total harvest for Q3 2025 was 30,678 tonnes gutted weight (tgw), with 25,392 tgw from Farming FO and 5,286 tgw from Farming SCT. For the first nine months of 2025, total harvest reached 78,932 tgw. Looking ahead, Bakkafrost expects market conditions to improve, driven by slowing global supply growth and firm demand for high-quality salmon, supporting higher prices into 2026. The Group targets a total annual harvest of 162,000 tonnes by 2030, supported by a DKK 5.0bn investment plan for 2026-2030 aimed at improving efficiency and reducing biological risk.