Faroe Islands-based Bakkafrost Group has advised that preliminary results of the unaudited consolidated accounts for the second-quarter 2025 indicate a lower-than-expected operational EBIT of around DKK 65 million.
In a statement it said: “Weak salmon prices in the quarter harmed the overall results. In the Faroes, biological performance was strong in the quarter, while the Scottish farming and freshwater segments had some challenges with diseases, which continued into July. Consequently, exceptional mortality costs of DKK 93 million have been booked in the Scottish farming and freshwater segments, including a write-down of mortality in July related to the same disease events.”
With regards to its business segments, it estimated the following operational EBITs:
- Fishmeal, Oil and Feed (FOF) – DKK 89 million
- Freshwater Faroe Islands (FO) – DK 85 million
- Freshwater Scotland (SCT) – DKK -72 million (exceptional mortality and write-down cost of DKK 52 million)
- Farming FO – DKK 4 million
- Farming SCT – DKK -127 million (exceptional mortality and write-down cost of DKK 38 million)
- Services – DKK 17 million
- Sales & Other – DKK 97 million
Bakkafrost’s full Q2 2025 report will be released on 26 August 2025.
The group’s recent trading update reported a total second quarter harvest of 23,000 tonnes of head-on gutted (HOG) salmon, an increase from 21,500 tonnes in Q2 2024, with its Faroese harvest amounting to 16,000 tonnes and a Scottish harvest of 7,000 tonnes. Its feed sales for the three-month period totalled 37,500 tonnes, with Havsbrún sourcing 159,500 tonnes of raw materials.
