Salmon Evolution has reported revenues of NOK 149.5 million (€12.86 million) in the fourth quarter of 2024, translating into a group EBITDA of NOK 9.2 million (€790,000) and a Farming EBITDA of NOK 15.3 million (€1.32 million).
The company continued its positive growth trend, driven by stable operations at its Indre Harøy and Dale sites, with biomass growth reaching 1,518 tonnes LW, up 11% quarter-on-quarter and marking the second-highest on record.
“We are very pleased to end 2024 with a new harvest record and strong KPIs, highlighting the significant milestones we have achieved the last 12 months,” said Trond Håkon Schaug-Pettersen, chief executive of Salmon Evolution.
“2024 has further strengthened our position as the leading land-based salmon farmer globally.”
During the quarter, Salmon Evolution achieved a new harvest record, with a total of 1,729 tonnes HOG, including post-smolt. This strong performance reflects the company’s effective price strategy, particularly the decision to backload harvests into the second half of 2024, which paid off with solid price achievements.
The company also made significant progress in its phase 2 expansion project at Indre Harøy, which is on track for the first smolt release in Q1 2026. As of the end of Q4, the standing biomass stood at approximately 2,000 tonnes LW.
“We are on plan and budget and are very happy with the progress at the building site,” said Schaug-Pettersen. “With phase 2 up and running we will have an operational strength few in the industry can rival.”
Salmon Evolution ended the quarter with NOK 684 million (€58.82 million) in available liquidity, including committed undrawn credit facilities.
