Scottish Sea Farms harvested 40,400 tonnes of fish last year
Salmon producer made operating profit of £39.5m in 2024
Scottish Sea Farms (SSF) almost doubled its harvest volume and revenues in the last quarter of 2024 compared to the same period in 2023, co-owner SalMar revealed in its Q4 2024 report today.
SSF an operating profit of NOK 93 million (£6.6m) in the quarter, compared to an operating loss of NOK -47m in Q4 2023. EBIT per kg gutted weight was NOK 10.3, compared to a loss of NOK -10.3 in Q4 2023.
The company, which is Scotland’s second largest salmon farmer by volume, harvested 9,000 gutted weight tonnes in Q4, up from 4,600 gwt in Q4 2023, and generated operating revenues of NOK 965m (Q4 2023: NOK 497m).
SSF, which supplies Marks & Spencer, sold 32% of its Q4 harvest volume on contracts.
For the full year, SSF harvested 40,400 gwt (2023: 24,900 gwt) and made an operating profit of NOK 555m (£39.5m at today’s exchange rate), a turnaround from a loss of NOK 304m in 2023. EBIT per kg for 2024 was NOK 13.7 (NOK -12.2).
Pre-tax profit for 2024 was NOK 311m (NOK -482).
“Scottish Sea Farm continued its positive trajectory seen last quarters with increased harvest volumes, good harvest weights, and good biological conditions in seawater in all regions,” reported SalMar, which owns SSF 50-50 with fellow Norwegian salmon farmer Lerøy.
“The company reports of good biological situation with next generations of fish performing well in all regions.”
SSF’s harvest volume guidance for 2025 is unchanged at 32,000 tonnes. The volume is lower than 2024 due to re-organising site structure.
