Andfjord Salmon completes first post-smolt sale

26 June 2026

Andfjord Salmon Group AS (Andfjord Salmon) is pleased to report the successful completion of its inaugural post-smolt sale to regional fish farmer Eidsfjord Sjøfarm.

“We announced our post-smolt production strategy in February 2024 as a complement to our human-grade salmon production, enabling us to make full use of available pool capacity. We are proud to complete the first post-smolt sale under this strategy. This has been a highly successful production cycle, with healthy biological conditions delivering strong fish growth and an impressive survival rate,” says Martin Rasmussen, CEO of Andfjord Salmon.

Over the past week, approximately 450,000 salmon – at an average weight of 1,234 grams per fish following pre-transfer fasting – were transferred from pool K1 at Kvalnes to a wellboat in the harbour in four separate batches. Each successive batch was completed more efficiently than the last, demonstrating the steady operational improvements achieved throughout the process.

Eidsfjord Sjøfarm has now released the acquired post-smolt into ocean net pens in the Vesterålen region. The purchase forms part of a strategic post-smolt partnership between Andfjord Salmon and Eidsfjord Sjøfarm.

“This strategic cooperation enables us to achieve higher biomass turnover, with the associated benefits of improved EBIT, a shorter runway to revenue and positive cash flow effects. Eidsfjord Sjøfarm, in turn, benefits from releasing a robust fish into ocean net pens and from a shorter ocean-based grow-out phase. The latter delivers multiple biological and environmental advantages, including lower proneness to disease and reduced exposure to salmon lice,” adds Martin Rasmussen.

OPERATIONAL STATUS UPDATE

Andfjord Salmon has retained approximately 290,000 fish in pool K1 for grow-out as human-grade salmon. The company expects to begin harvesting the K1 biomass in the fourth quarter of this year.

In addition to pool K1, Andfjord Salmon currently has production in pool K0 (grow-out) and pool K3 (post-smolt). As of 25 June 2026, total standing biomass at Kvalnes was 1,315 tonnes of live salmon, following the recent sale of approximately 560 tonnes of post-smolt. The aggregated average survival rate is 98.52 percent.

CONTACTS

Bjarne Martinsen, CFO, Andfjord Salmon Group AS, +47 975 08 345, bjarne.martinsen@andfjord.no

Martin Rasmussen, CEO, Andfjord Salmon Group AS, +47 975 08 665, martin@andfjord.no

ABOUT ANDFJORD SALMON

Located at Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord Salmon is developing the world's most sustainable and fish-friendly aquaculture facility of its kind. Through a proprietary flow-through system, Andfjord Salmon combines the best from ocean and land-based salmon farming. In its first production cycle, the company achieved an industry-leading survival rate of 97.5 percent, feed conversion ratio of 1.05, superior share of 91.1 percent, and required 1 kWh to produce one kilo of salmon. For more information, see www.andfjordsalmon.com