Nordic Halibut sees Q3 production, revenue jump; new site on track

Nordic Halibut AS announced robust Q3 2025 results, with biological asset production at sea increasing by 22% to 584 tonnes. Harvested volume surged 41% year-over-year to 152 tonnes HOG, while the average harvest weight improved by 8% to 5.2 kg HOG. This led to a 39% rise in total revenue, reaching NOK 24.1 million, with an average sales price of NOK 170/kg HOG, up 4.3% year-over-year. EBITDA for the quarter was NOK 17.6 million, though the company recorded a net loss of NOK -2.9 million, primarily due to fair value adjustments of live halibut.

The company's strategic growth plan continues to progress, with the construction of the new Torjulvågen production site on schedule for full operation by 2027. This facility is crucial for achieving the long-term production target of 10,350 tonnes HOG by 2031. Nordic Halibut also highlighted its consistent quality, freshness, and umami profile, which contributed to its recognition at the World Sushi Cup 2025 and an "Award Winning Design" in Paris for its rebranding efforts.

Financially, the company's total equity stood at NOK 649 million as of September 30, 2025, representing an equity ratio of 68%, up from 59% in Q3 2024, demonstrating strong financial health and compliance with all financial covenants.