Bakkafrost reports record salmon harvest but lower profits due to price drop

Faroese salmon producer Bakkafrost recorded an operating profit of 888 million Danish kroner in 2025, down from previous years due to low salmon prices, the company announced in its annual report on Friday, according to Faroese broadcaster Kringvarp Føroya.

Despite the profit decline, Bakkafrost harvested 107,000 tonnes of salmon last year—an increase from 90,700 tonnes in 2024. Total revenue reached seven billion kroner. Biological performance in the Faroe Islands remained strong, with low mortality rates and a record 18.7 million smolt released at an average weight of 453 grams.

The company’s strategy in Scotland, focusing on larger smolt releases, yielded an average harvested weight of 5.3 kilograms per fish. Survival rates in sea pens averaged 93 percent. Employee wages totalled 947 million kroner for the year.

At the upcoming annual general meeting in April, the board will propose a dividend of 3.45 kroner per share. The report also highlighted ongoing efforts to improve fish health and animal welfare.