Bakkafrost Publishes 2025 Integrated Annual Report
27.03.2026
Bakkafrost has now published its 2025 Integrated Annual Report. The report provides a comprehensive and transparent overview of the Group's performance across financial, environmental, social, and governance dimensions over the past year.
In 2025, Bakkafrost navigated a challenging market environment characterised by elevated global supply and sustained pressure on salmon prices. Despite these headwinds, the Group delivered strong biological performance and maintained disciplined strategic execution, further strengthening its operational platform across both the Faroe Islands and Scotland.
Solid Financial Foundation
The 2025 financial results demonstrate the resilience of Bakkafrost's fully integrated value chain. The Group generated operating revenues of DKK 7.0 billion and an operational EBIT of DKK 888 million. While earnings were impacted by lower average salmon prices, this was partially offset by a significant increase in harvest volumes, which reached 106,823 tonnes gutted weight — up from 90,656 tonnes in 2024.
The Group maintained a robust balance sheet with an equity ratio of 58%, ensuring the financial flexibility to execute its long-term investment programme while supporting an attractive dividend policy. The Board of Directors will propose a dividend of DKK 3.45 per share at the Annual General Meeting in April 2026.
Record Biological Performance
Operationally, 2025 was marked by record biological performance in the Faroe Islands, with high growth rates, low mortality, and effectively controlled sea lice levels. Freshwater operations achieved a record production of 18.7 million large, high-quality smolt. In Scotland, the ongoing transition towards large-smolt farming yielded material improvements, with average harvest weight increasing to 5.3 kg.
Bakkafrost's commitment to fish health and welfare was further underscored by zero antibiotic use and zero fish escapes across both the Faroe Islands and Scotland in 2025.
Advancing Our Sustainability Commitments
Transparency and responsibility remain at the core of how Bakkafrost operates. The report details the Group's continued progress toward its science-based climate targets, which aim to reduce absolute Scope 1 and 2 emissions by 50% and Scope 3 emissions by 52% per tonne of product sold by 2030.
While increased production activity led to higher total greenhouse gas emissions in 2025, Bakkafrost continues to work according to its climate transition plan, aligned with the SBTi, and to advance key decarbonisation initiatives, including the planned Eysturlund wind farm, increased renewable electricity sourcing in Scotland, and participation in the DecarbFaroe carbon capture pilot project.
The Group also remains a vital contributor to local communities, paying DKK 947 million in salaries, directing 61% of procurement spending locally, and supporting community well-being through the Healthy Living Fund.
The full Bakkafrost 2025 Integrated Annual Report is available here.
We have also launched a Summary Report, which can be found here.