)

Salmon Evolution (SALME) investor relations material
Salmon Evolution Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Indre Harøy phase 2 construction is progressing on schedule, with major milestones achieved and first smolt release expected in Q1 2026; operations remain stable with minimal mortality and record-high standing biomass of 3,043 tonnes LW.
Q2 saw all-time high underlying biomass and normalized composition, positioning for increased harvest weights and volumes from Q3 onward.
Harvested 1,232 tonnes HOG in Q2, with revenues of 91.1 NOKm; results were impacted by weak salmon prices and higher temporary farming costs from non-recurring smolt quality issues.
Financial flexibility improved with new credit facilities totaling 250 NOKm and an increased overdraft facility to 200 NOKm.
Phase two will more than double production capacity and improve harvest regularity, supporting commercial growth.
Financial highlights
Q2 2025 group revenue was 91.1 NOKm, down from 170.5 NOKm in Q2 2024, mainly due to significantly weaker salmon prices.
Group EBITDA was -25.6 NOKm, with operational EBIT at -46.8 NOKm; farming segment EBITDA was -13.2 NOKm.
Cash flow from operations was -33.9 NOKm, and net interest-bearing debt at quarter-end was 944 NOKm.
All-in price realization on harvested fish was NOK 72.1/kg, down from NOK 106.1/kg in Q2 2024.
Temporary high farming costs in Q2 were due to harvesting underperforming groups affected by last year's smolt quality issues.
Outlook and guidance
2025 harvest guidance revised down to ~5,000 tonnes HOG, with underlying production expected at ~5,800–6,000 tonnes HOG, over 20% higher than 2024.
About 500 tonnes originally planned for 2025 have been shifted to 2026 to optimize for expected stronger prices.
Both harvest weights and volumes are set to increase from Q3 onward due to normalized biomass composition.
Market outlook for 2026 is positive, with global supply expected to contract and prices to recover.
Focus remains on operational excellence and completion of Indre Harøy phase 2.
Next Salmon Evolution earnings date

Next Salmon Evolution earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage