Strong price achievement for Salmon Evolution

Land-based fish farmer Salmon Evolution harvested 901 tonnes (head on gutted) of salmon with an average weight of 4.6 kg (live weight) in the first quarter of this year, the Norwegian company said in an operational update today.

The harvest had a 96% superior share and the all-in price realisation, including what was achieved for downgraded fish, was NOK 108 per kilo. Salmon Evolution’s price achievement consistently outperformed the NASDAQ benchmark price for superior grade fish, said the company.

Harvest volume for the second quarter is expected to be in the range of 1,600 to 1,800 tonnes HOG, which Salmon Evolution said marked the starting point of a significant increase in harvest volumes.

The company had a standing biomass of almost 2,700 tonnes at the end of March, up 21% from Q4 2023. Net biomass growth on Q1 was 1,560 tonnes, up 8% from the previous quarter.

More smolts

The company’s 11th batch of fish was stocked at the hybrid flowthrough / recirculation facility at Indre Harøy in More og Romsdal region in mid-March, and two additional smolt groups will be stocked in the current quarter.

“In the first quarter we had an industry leading superior grade share of 96%, continuing to demonstrate excellent fish welfare,” said Salmon Evolution chief executive Trond Håkon Schaug-Pettersen.

“With Q2 harvest volumes expected to double from Q1, Salmon Evolution is uniquely positioned to capitalise on the current record high salmon prices.”

Salmon Evolution currently has capacity for 8,000 tonnes HOG in its completed Phase 1 at Indre Harøy and is now working on Phase 2, which will double capacity. Phase 3 will take capacity to 32,000 tonnes.