Arctic Fish records harvest volumes in Q3, but lower prices hit operational EBIT

Arctic Fish announced record-high harvest volumes for Q3 2025, reaching 5,401 tonnes, a 59% increase year-over-year from 3,407 tonnes in Q3 2024. This contributed to a total of 10,561 tonnes YTD Q3 2025. The company’s harvest volume guidance for 2025 remains at 14.0 thousand tonnes, a 31% increase from 2024, with continued growth projected to 17.5 thousand tonnes in 2026 (a 25% YoY increase).

Despite the strong volume performance, operational EBIT for Q3 2025 was €-6.561 million, down from €936 thousand in Q3 2024, primarily due to lower market prices. Operational revenue and other income increased to €28.963 million in Q3 2025 from €20.675 million in Q3 2024, driven by the higher volumes. The equity ratio stood at 36.9% as of September 30, 2025, an increase of 10.9% from Q2 2025.

Total assets increased to €263.009 million, up by €16.6 million from Q2 2025, mainly attributed to an increase in biological assets. Net interest-bearing debt (NIBD) decreased by €3.6 million, from €145.046 million at the end of Q2 2025 to €141.441 million at the end of Q3 2025. Expected CAPEX for 2025 is €16 million, focused on seawater-related equipment.