Salmon Evolution pushes ahead with Indre Harøy expansion despite price pressure

Salmon Evolution ASA ( (DE:60E) ) just unveiled an update.

Salmon Evolution reported that the fourth quarter of 2025 was marked by solid operational execution but weak market pricing, with revenue of NOK 98.7 million, group EBITDA of negative NOK 8.4 million and farming operations at breakeven excluding phase 2 ramp-up costs. Management said they deliberately prioritized building biomass for 2026 amid high global supply and expect benefits from entering the year with record biomass levels as prices improve.

The company’s Indre Harøy phase 2 expansion is about 70% complete and progressing on schedule, with first smolt release planned for week 17 and a target to release 2.8 million smolt in 2026, a 65% increase from 2025. The ramp-up is set to double production capacity over the next 12 months, while an updated partnership model in Korea underscores a strategic focus on operational excellence and execution, signaling a scale-up phase that could strengthen Salmon Evolution’s position in land-based salmon farming.

The most recent analyst rating on (DE:60E) stock is a Buy with a NOK7.00 price target. To see the full list of analyst forecasts on Salmon Evolution ASA stock, see the DE:60E Stock Forecast page.

More about Salmon Evolution ASA

Salmon Evolution ASA is a Norwegian aquaculture company and a global leader in land-based salmon farming, using a hybrid flow-through system to combine benefits of land-based and sea-based operations while prioritising biological risk management. Its first industrial-scale facility and global centre of excellence is located at Indre Harøy on Norway’s west coast, from which the company plans significant expansion and is listed on Oslo Børs under the ticker SALME.

Average Trading Volume: 711,767

Current Market Cap: NOK2.21B

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