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Bakkafrost P/f — Earnings Release 2025
Apr 1, 2025
7331_iss_2025-04-01_dd9b23d1-4319-4b8f-a030-e109d49f45fe.html
Earnings Release
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Q1 2025 Trading Update
Q1 2025 Trading Update
FARMING
In Q1 2025, the harvest volumes for Bakkafrost's operation in the Faroe Islands
and Scotland were:
+-------------+--------+-----------------+-----------------+
|Region |Month |Harvest volume |Average weight |
| | | | |
| | |(thousand tonnes)|(kg) |
+-------------+--------+-----------------+-----------------+
|Faroe Islands|Jan | 6.7| 5.1|
+-------------+--------+-----------------+-----------------+
| |Feb | 6.8| 5.0|
+-------------+--------+-----------------+-----------------+
| |Mar | 5.4| 5.2|
+-------------+--------+-----------------+-----------------+
| |Q1 total| 18.9 | 5.1|
+-------------+--------+-----------------+-----------------+
| | | | |
+-------------+--------+-----------------+-----------------+
|Scotland |Jan | 1.9| 6.5|
+-------------+--------+-----------------+-----------------+
| |Feb | 2.1| 6.9|
+-------------+--------+-----------------+-----------------+
| |Mar | 2.3| 6.7|
+-------------+--------+-----------------+-----------------+
| |Q1 total| 6.3| 6.7|
+-------------+--------+-----------------+-----------------+
All harvest volumes are provided in head-on gutted (HOG) equivalents.
Based on preliminary numbers, Q1 2025 incident-based mortality costs in the
farming segments are estimated to be:
· Faroe Islands: 0 mDKK
· Scotland: 8 mDKK
FRESHWATER
The smolt release in Q1 2025 was:
· Faroe Islands: 3.2 million
· Scotland: 0.6 million
FISHMEAL, OIL AND FEED (FOF)
In Q1 2025, the volumes sourced and sold in the FOF segment where (in thousand
tonnes):
+--------+----------------------------+----------+---------------+-------------
-+
|Month |Marine raw material sourcing|Feed sales|Fish meal sales|Fish oil
sales|
+--------+----------------------------+----------+---------------+-------------
-+
|Jan | 25.5 | 10.7 | 2.4 | 0.0
|
+--------+----------------------------+----------+---------------+-------------
-+
|Feb | 39.2 | 8.4 | 0.0 | 0.0
|
+--------+----------------------------+----------+---------------+-------------
-+
|March | 44.8 | 12.3 | 1.2 | 0.0
|
+--------+----------------------------+----------+---------------+-------------
-+
|Q1 Total| 109.5 | 31.3 | 3.6 | 0.0
|
+--------+----------------------------+----------+---------------+-------------
-+
The full Q1 2025 report will be released on 19 May 2025 at 06:00 CET.
Contacts:
. Regin Jacobsen, CEO of P/F Bakkafrost: +298 23 50 01 (mobile)
. Høgni Dahl Jakobsen, CFO of P/F Bakkafrost: +298 23 50 60 (mobile)
This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.