Bakkafrost achieves increased Q1 Faroese harvest but Scottish salmon production declines

Workers tend to a net pen at one of Bakkafrost's salmon farms.

The volume of salmon harvested by Bakkafrost Group in the Faroe Islands in the first quarter of this year increased by 3,500 metric tons (MT) year-on-year, to 17,500 MT head-on gutted (HOG) fish, according to the producer’s latest trading update.

The company’s Farming North operations in the Faroes contributed 10,100 MT, down from 11,400 MT in Q1 2021; while its Farming West farms supplied 5,300 MT, an increase from 2,500 MT; and its Farming South farms provided 2,100 MT, up from 100 MT.

Bakkafrost's Scottish operations – the Scottish Salmon Company (SSC) – harvested 4,000 MT of fish, down from 7,000 MT in Q1 2021. SSC’s north farms provided 2,200 MT, while the south farms contributed 1,800 MT

The group’s feed sales for Q1 2022 totaled 26,200 MT, up from 23,800 MT a year previously.

Bakkafrost’s full first-quarter 2022 report will be released on 10 May, 2022.

The increases year-over-year continue a trend of solid harvests at the company’s Faroe Islands operations. Bakkafrost harvested a total 97,900 MT of salmon in 2021 (up from 86,700 MT in 2020), with 67,200 MT produced in the Faroes and 29,700 MT in Scotland. In Q4 2021, the company harvested a record 20,700 MT at its Faroese farming operations.

The company has forecast a 2022 harvest of 103,000 MT gutted weight, with 68,000 MT coming from the Faroe Islands and 35,000 MT from Scotland.

It also expects to release around 14.9 million smolts of around 500 grams in the Faroes in 2022, compared to 14.4 million smolts in 2021, 14.3 million smolts in 2020, 12.7 million smolts in 2019, and 12.6 million smolts in 2018. The smolt release in Scotland in 2022 is expected to be 10.8 million smolts of around 120 grams, compared to 11.1 million smolts in 2021, 10.4 million smolts in 2020, 12.4 million smolts in 2019, and 8.6 million smolts in 2018. 

For the full-year 2021, Bakkafrost achieved an improved operational EBIT of DKK 821.2 million (USD 121.3 million, EUR 110.4 million), while its annual profit increased to DKK 964 million (USD 142.4 million, EUR 129.6 million).  

Photo courtesy of Bakkafrost


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