Bakkafrost Group reported total operational EBIT of DKK 295 million (€39.5 million) in the fourth quarter of 2025, up from DKK 280 million (€37.5 million) a year earlier, reflecting strong biological performance in the Faroe Islands but continued challenges in Scotland amid a difficult market environment.
In the Faroe Islands, revenues rose to DKK 1,544 million (€208 million) from DKK 1,184 million (€158.5 million) in Q4 2024, while operational EBIT increased to DKK 392 million (€52.5 million) from DKK 310 million (€41.5 million).
The company had previously posted a profits warning in Q2 last year and warned of ‘unsatisfactory’ results in Q3.
“Operationally, the Group delivered a solid performance in the fourth quarter, driven by strong biological development in the Faroe Islands where biomass levels reached an all-time high,” said chief executive, Regin Jacobsen.
“This supports improved cost efficiency and operational robustness, which remains a key priority across the Group.
“However, the financial results in the fourth quarter were not satisfactory, as they were impacted by the continued high global supply of salmon, which negatively affected market prices for the majority of the quarter.”
The improvement was driven by strong growth, low mortality and record-high biomass levels at sea, providing a solid platform for future harvest volumes. Sea lice levels remained well controlled and freshwater operations delivered record results across key indicators, including smolt numbers and biomass.
By contrast, Scotland posted revenues of DKK 303 million (€40.6 million), broadly in line with last year, but operational EBIT declined to DKK -97 million (€-13 million) from DKK -31 million (€-4.2 million). Results were negatively impacted by the harvesting and emptying of the Portree site in October following an exceptional mortality event, as well as generally weaker market prices earlier in the quarter.
Global salmon supply increased sharply in Q4 2025, although reference prices improved towards year-end as supply eased. Looking ahead, Bakkafrost expects a tighter market from the second quarter of 2026 onwards.
The board of directors proposes a dividend of DKK 3.45 (€0.46) per share, in line with its long-term payout policy of 30–50% of earnings per share, with the annual general meeting scheduled for 30 April 2026.
The company has announced a DKK 5bn (€670 million) investment plan for 2026-2030 aimed at improving efficiency, reducing biological risk and enabling continued sustainable growth in the Faroe Islands and Scotland.
