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Proximar Seafood AS ( (DE:84Q) ) just unveiled an update.
Proximar Seafood reported strong operational and biological performance in the first quarter of 2026, harvesting 697 tonnes HOG and bringing total output since September 2024 to more than 2,000 tonnes HOG. Superior-grade share reached 95.4% and survival in grow-out was 98.9%, although average harvest weight was reduced to about 2.25 kg HOG due to the completion of mixed batches affected by prior production disruptions.
The lower harvest weights dampened cash generation and pulled the average net sales price down to around NOK 54 per kilo, with larger fish above 3 kg HOG achieving about NOK 75 per kilo amid volatile supply and a weaker yen. To support liquidity, Proximar secured an offer for a MJPY 300 loan from a regional bank and received a final insurance payout of MJPY 357, while also seeking a covenant waiver and pursuing additional short-term financing, signaling constructive lender support but continued focus on funding needs as production scales.
More about Proximar Seafood AS
Proximar Seafood AS is a Norwegian land-based salmon farming company that operates its first production facility at the foot of Mount Fuji in Japan. Using high-quality groundwater to produce fresh Atlantic salmon close to one of the world’s key fish markets, the company targets reduced logistics costs and a lower carbon footprint, marketing its fish under the Fuji Atlantic Salmon brand.
Average Trading Volume: 494,840
Current Market Cap: NOK287.9M
For detailed information about 84Q stock, go to TipRanks’ Stock Analysis page.