Salmon Evolution ASA: Phase 2 ramp-up and operation according to plan

Salmon Evolution (OSE: SALME) delivered continued operational progress in phase 1 and initiated operations in phase 2 according to plan during the quarter, further strengthening the foundation for significant production growth and improving profitability in the coming periods.

Weak salmon prices impacted the financial results in Q2, resulting in a farming EBITDA of -3.0 NOKm (YTD 14.6 NOKm) and a Group EBITDA of -11,1 NOKm (YTD: -1,7 NOKm). Q2 farming costs was ~71 NOK/kg, slightly down from Q1 and 13% lower y/y.

“With Phase 1 steadily improving and Phase 2 ramping up according to plan, Salmon Evolution is entering a period of substantial growth. We expect production volumes to more than double over the next 12 months, driving better unit economics and profitability. Combined with an expected recovery in salmon prices, this puts us in a good position as we enter what we believe will be one of the most exciting phases in the company’s history,” said Trond Håkon Schaug-Pettersen, CEO of Salmon Evolution.
 
Highlights:
• Weak salmon prices and backloaded harvest profile impacting Q2 financials.
• Continued operational progress in Phase 1, with improvements from the new feed and operational protocols increasingly visible although the full positive effects are still ahead.
• Phase 2 ramp-up and operation according to plan, with the third smolt release completed in July.
• On track for substantial production growth and improving unit economics coming 12 months - plan to release a combined 2.8 million smolt in phases 1 and 2 for 2026, up 65% from 2025.
 
Results presentation:
CEO Trond Håkon Schaug-Pettersen and CFO Trond Vadset Veibust will present the results for the second quarter 2026 at Hotel Continental in Oslo, Norway, Tuesday 18 August at 08:00 CET.
 
The presentation and Q&A will be held in English, and participants may also follow the presentation and submit questions through a live webcast available on www.salmonevolution.no or with the following link: https://events.webcast.no/salmon-evolution/OEpmPDaoyhi5siPjdg0b/vJyWMecroAEGjf43FDVe
 
A recording of the webcast will be made available on our website after the presentation.
 
Find the report by using the following link: https://salmonevolution.wrep.it/q2-2026 or see attached PDF.