Nekton Havbruk, a subsidiary of the SalMar group, reported a decline in operating profit for 2025, falling to 3,9 million NOK from 19,7 million NOK the previous year. According to the company’s annual report cited by iLaks, the downturn was driven by lower realized salmon prices and rising costs associated with production fish. While revenue dropped to 144,6 million NOK, the board remains optimistic about the company’s future within the growing Norwegian aquaculture sector.
Financial Performance and Market Headwinds
Nekton Havbruk saw its turnover slide from 151,3 million NOK in 2024 to 144,6 million NOK. The company’s board of directors explicitly attributed the profit drop to unfavorable market prices for salmon and the higher expenses linked to managing production fish.
Unlike previous years, where the company distributed significant dividends—40 million NOK in 2023 and 11 million NOK in 2024—no dividends were paid out for 2025. Instead, the total profit of 539.363 NOK was allocated to equity. The company’s total assets also contracted, moving from 303,7 million NOK to 290,8 million NOK by the end of the year.
Did you know?
Nekton Havbruk operates with a unique structural setup: while the company is based on Frøya in Trøndelag, its actual fish farming production takes place at Smøla in Møre- og Romsdal. Since 2021, the firm has sold its entire production internally to the SalMar group.
Strategic Investment in Educational Aquaculture
The company holds a commercial license for 788 tonnes and a specialized display license (visningstillatelse) for 780 tonnes. In 2025, this display license was extended for an additional five-year period.
This extension triggered new investments in the company’s display facilities. These installations are designed to provide transparency and public insight into modern fish farming practices.
Future Outlook for SalMar’s Subsidiary
The board of directors maintains a positive outlook for the coming years, citing the overall expansion of the Norwegian aquaculture industry. Despite the recent contraction in earnings, the company expects its future development to be favorable. The board stated in its annual report that they anticipate an increase in activity levels across the SalMar group in the near future.
Although the company reported no direct employees in 2025—with the daily management handled by staff within the parent company, SalMar—the integration allows for streamlined resource allocation. This structure helps the company manage the complexities of production while navigating the fluctuating costs that impacted their 2025 performance.
Frequently Asked Questions
- Why did Nekton Havbruk’s profit drop in 2025?
The decline was primarily caused by lower realized salmon prices and increased production costs related to production fish, according to the company’s annual report. - Is Nekton Havbruk still paying dividends?
No. After paying out 40 million NOK in 2023 and 11 million NOK in 2024, the company opted to allocate its 2025 profit to equity rather than paying a dividend. - What is the status of their display license?
The company’s display license, which allows for 780 tonnes of production, was extended for five years in 2025, leading to new investments in display facilities. - Who manages the company’s daily operations?
Nekton Havbruk had no employees in 2025. Its daily operations are managed by personnel employed by the parent company, SalMar.
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