Bond.az reports that salmon farmer Bakkafrost posted a rise in first-quarter operating profit and returned to net profitability, helped by higher harvest volumes in the Faroe Islands.
The company reported operational EBIT of 544 million Danish crowns for January-March, up from 505 million crowns a year earlier.
Net profit came in at 307 million crowns versus a loss of 6 million crowns a year ago.
Revenue rose 11% to 2.11 billion crowns, driven by a 24% increase in total harvested volumes to 31,337 tonnes gutted weight. Harvest volumes in the Faroe Islands climbed 33% to 25,139 tonnes, offsetting weaker profitability in Scotland.
Lower global salmon prices weighed on results, as salmon supply rose sharply. Reference prices for 4-5 kg superior salmon were about 5% lower than a year earlier, despite strong demand, particularly from China.
Faroese farming segment posted operational EBIT of 386 million crowns, up from 287 million crowns, supported by strong fish health and lower mortality. Scottish farming reported an operational loss of 63 million crowns, compared with a profit of 16 million crowns a year ago.
The company raised its 2026 harvest guidance for the Faroe Islands to around 97,000 tonnes from 92,000 tonnes, while maintaining Scotland guidance at about 20,000 tonnes. Total harvest volume for 2026 is expected at around 117,000 tonnes.
