Bakkafrost reports lower third quarter profits amid salmon price challenges in Vágur

Lower salmon prices, issues at ILA in Vágur, and a strike have negatively impacted Bakkafrost’s financial results in the third quarter, making it worse than in the same period last year.

The operational profit for Bakkafrost in the third quarter amounted to 173 million Danish kroner, compared to 269 million in the same quarter last year.

To maintain competitiveness, Bakkafrost has implemented several cost-saving measures in Scotland. One such initiative involved shutting down the facility in Marybank in July.

Throughout the entire quarter, salmon prices remained low. However, Bakkafrost anticipates higher salmon prices, particularly in the first half of 2025.