Atlantic Sapphire reports strong Q3 performance, positive outlook

Atlantic Sapphire ASA reported strong Q3 2025 results, demonstrating stable biological performance with fish survival rates exceeding 99% and harvest weights above 3kg HOG. Total harvest volume for the quarter reached 1,427 tons HOG. Commercial momentum remained strong, with average sales prices around $8.58/kg, representing a 19% premium to comparable price indexes, and a record high premium share of 95%.

Operational improvements included a steady increase in feeding rates, reaching all-time highs, and a sustained biological Feed Conversion Ratio (bFCR) of 1.30. The company anticipates further cost reductions from Q1 2026, driven by efficiency measures and the completion of one-off maintenance and infrastructure upgrades.

Atlantic Sapphire is on track to achieve 7,000 tons of full-year production and EBITDA positive by the end of 2026 for Phase 1. The company also secured $35m in convertible loan funding, backed by key shareholders, to support Phase 1 operations towards an EBITDA break-even.