Quarterly Public Farm Review: Q4 2025 + Special Interview

Quarterly Public Farm Review: Q4 2025 + Special Interview

What separates the salmon farms that thrived in Q4 from the ones still bleeding money and does it all come down to where they're located?

This week, we break down the Q4 financial results from the publicly traded salmon companies, walking through EBIT per kilogram figures across the industry and unpacking why companies like Grieg and SalMar cleared 20 NOK/kg while others in Iceland and Scotland finished deep in the red. We also get into why Mowi's Norway division outperformed nearly everyone, yet the company still ranked third overall, a reminder that geography can make or break a balance sheet.

Then, we sit down with Kaspar Coates and Nikolai Jensen, two Norwegian School of Economics graduates whose master's thesis is turning heads industry-wide, exploring how site-level factors like seawater temperature, sea lice pressure, and disease exposure directly tie to financial performance on the farm.

For more aquaculture insights head to our Fish n' Bits blog.

You can also check out Kasper and Nikolai's master thesis Investigating the relationship between site-specific biological characteristics and financial performance, in conventional open-net salmonid farming in Norway here.


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Episoder(99)

Quarterly Public Farm Review: Q2 2026

Quarterly Public Farm Review: Q2 2026

What do the latest earnings tell us about where salmon farming is actually making money?We're breaking down Q2 results from publicly traded salmon producers around the world, and after several difficu...

21 Sep 9min

SRS in Chile: What El Niño Could Mean for Disease Risk

SRS in Chile: What El Niño Could Mean for Disease Risk

Could a strong El Niño make one of Chilean salmon farming's most persistent disease challenges even harder to manage?We're taking a closer look at SRS and the potential risks facing Chilean salmon pro...

14 Sep 7min

Histology: Preparing Fish Health Data for AI

Histology: Preparing Fish Health Data for AI

What does it take to turn a microscope slide into data that AI can actually use?We're joined by the CEO of Histo Company, Lene Sveen, to explore what happens when fish tissue moves from the farm to th...

7 Sep 38min

El Niño: What's Next for Fishmeal & Fish Oil?

El Niño: What's Next for Fishmeal & Fish Oil?

How high could fishmeal and fish oil prices go if Peru faces another major anchovy shortage?We're taking a closer look at the developing El Niño, Peru's anchovy fishery, and what tightening marine ing...

31 Aug 11min

Norway's Traffic Light System: What's Changing Next

Norway's Traffic Light System: What's Changing Next

What happens when one of aquaculture's most important regulatory systems doesn't deliver the results it was designed to achieve? We examine the next chapter of Norway's Traffic Light System and the de...

20 Jul 11min

Mediterranean Aquaculture: Growth Meets a Changing Climate

Mediterranean Aquaculture: Growth Meets a Changing Climate

How do you keep one of aquaculture's biggest success stories growing as the environment around it changes?We're taking a closer look at Mediterranean aquaculture and the remarkable rise of European se...

29 Jun 9min

Reviewing the State of World Fisheries and Aquaculture (FAO)

Reviewing the State of World Fisheries and Aquaculture (FAO)

Aquaculture has now surpassed 100 million tonnes of production, supplying more seafood to consumers than wild fisheries. But the most interesting story in the FAO's latest State of World Fisheries and...

22 Jun 8min

What El Niño Means for Feed Markets

What El Niño Means for Feed Markets

What happens when El Niño tightens the supply of fish oil just as salmon markets and global shipping are already under pressure? A newly confirmed El Niño in the tropical Pacific is putting renewed at...

15 Jun 8min

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