Strong quarter for Scottish Sea Farms
Salmon producer made £17m operating profit in Q2 and remains on target for full-year harvest of 37,000 gutted weight tonnes
Salmon producer Scottish Sea Farms made an operating profit (EBIT) of NOK 234 million (£17m) in the second quarter of this year, a big turnaround on the NOK 144m loss made in Q2 2023.
The company, which is owned 50-50 by Norwegian salmon farming heavyweights SalMar and Lerøy Seafood, harvested 12,200 gutted weight tonnes in Q2, almost twice the 6,300 gwt harvested in the same period last year. Revenue was NOK 1.414 billion (Q2 2023: NOK 692m).
EBIT per kg gutted weight was NOK 19.1 in the period, a reversal of the NOK 22.8 per kg loss experienced in Q2 2023.
“Scottish Sea Farm continued its positive trajectory seen last quarter with increased harvest volumes, good harvest weights, and improved biological conditions in all regions,” wrote SalMar in its Q2 2024 report published today. It added that SSF was reporting good biological situation in all regions.
SSF’s volume guidance for 2024 is kept unchanged at 37,000 tonnes. This will make the company Scotland’s second largest salmon producer by volume this year, after Mowi Scotland.
