Grieg Seafood’s harvest volume for the first quarter of 2026 was approximately 8 200 tonnes GWT.
Following a second half of 2025 with high seawater temperatures, Grieg Seafood experienced elevated sea lice pressure and decreased survival rate. To address this, the Company initiated mechanical delousing treatment during this period. This decision was made ahead of an unexpected period of prolonged cold seawater temperatures in Q1 2026.
The combination of a warm summer, the mechanical sea lice treatment, and a subsequent prolonged cold period affected the quality of the fish harvested and, consequently the share of superior-quality dropping to 60%. Furthermore, this resulted in lower price realization as well as higher harvest volumes with elevated farming costs. The total estimated EBIT impact for 2026 is in the range of NOK 50-75 million. The majority of the impact is expected to be recognized in Q1 2026, with only limited effects anticipated for the remainder of the year.
This outcome is not satisfactory, and decisive actions have been implemented to avoid similar situations in the future, among other, the respective mechanical treatment has been discontinued. Importantly, the majority of the fish currently in sea and planned for harvest in 2026 have not been subjected to this treatment.
The incident is not reflective of the strong historical performance in Rogaland and is to a large extent considered a one-off event. The average number of treatments per post-smolt group remains below one (including the increased treatment activity).
An extended trading update for Q1 2026 will be published on approx. 21 May 2026, please be referred to our website for updates on the exact publishing date.
For enquiries, please contact:
Nina Grieg, CEO
Cell phone: +47 953 39 161
Magnus Johannesen, CFO
Cell phone +47 959 13 243
The information included in this announcement may be qualified as inside information pursuant to article 7 of the Market Abuse Regulation and is publicly disclosed in accordance with article 17 of the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.
About Grieg Seafood
Grieg Seafood ASA is one of the world's leading salmon farmers. Our farms are located in Rogaland in Norway with our headquarters in Bergen. Grieg Seafood ASA was listed at the Oslo Stock Exchange in June 2007.
Sustainable farming practices are the foundation of Grieg Seafood's operations. The lowest possible environmental impact and the best possible fish welfare are both ethical responsibilities and drivers of economic profitability.
To learn more, please visit www.griegseafood.com.