SalMar Posts Record Harvest Volume, Cuts Costs Amid Market Recovery
Event summary
- SalMar harvested 300,900 tonnes in 2025, exceeding 300,000 tonnes for the first time.
- Q4 2025 operational EBIT per kg was NOK 21.8 for the Group, with Norway at NOK 23.0.
- Board proposes NOK 10.00 per share dividend for 2025.
- 2026 volume guidance set at 318,000 tonnes, a 6% increase from 2025.
- Scottish Sea Farms reported weak results despite overall group improvements.
The big picture
SalMar's record harvest volume and cost reductions reflect broader industry trends toward operational efficiency in aquaculture. The company's strategic investments in biological performance and market development position it to capitalize on strong underlying demand, even as it navigates regional performance disparities. With a 6% volume increase projected for 2026, SalMar's ability to maintain quality and cost advantages will be critical in a market with low supply growth.
What we're watching
- Cost Efficiency
- Whether SalMar can sustain its lower cost level across all segments amid rising market prices.
- Market Dynamics
- How global supply growth trends in 2026 will impact SalMar's pricing power and demand.
- Operational Performance
- The pace at which Scottish Sea Farms can improve its results to align with the rest of the group.