Miami, Florida, U.S.A.-based recirculating aquaculture system (RAS) salmon-farming firm Atlantic Sapphire increased its revenue and posted an improved EBITDA in the first half of 2025.
The company posted revenue of USD 21.5 million (EUR 18.4 million) in H1 2025, nearly double the USD 11.1 million (EUR 9.5 million) the company posted in the same period of 2024. The company said its EBITDA increased to a loss of USD 30.7 million (EUR 26.3 million), up from a loss of USD 46.6 million (EUR 39.9 million) in H1 2024.
According to Atlantic Sapphire, its financial results were solid enough to remain in compliance with all of its financial covenants.
The company posted an improved operational performance at its land-based salmon farm alongside its improved finances. The company had harvest volumes of 2,486 metric tons (MT) of head-on gutted salmon (HOG) in H1 2025, up from the 2,385 MT HOG it harvested in H1 2024. While the increase in total harvest weight was relatively small, the company said the increase in average harvest weight nearly doubled to 2.86 kilograms in H1 2025 and hit a peak of 3.1 kilograms in Q2 2025.
Along with the higher harvest weights came better sales prices, with the company earning USD 8.67 (EUR 7.43) per kilogram and fresh sales reaching USD 9.27 (EUR 7.95) per kilogram in Q2 2025.
“The first half of 2025 represents a turning point for Atlantic Sapphire,” Atlantic Sapphire CEO Pedro Courard said. “Operations are now stable, biological performance is at record levels, and financial results are rapidly improving.”
Courard said the company’s harvest weights are improving, and the prices in Q2 2025 managed to be higher than reference price indices, giving the company a “clear line of sight to profitability.”
“We expect to deliver our first positive EBITDA quarter by the end of 2026 and see a clear foundation for profitable growth and expansion from there,” Courard said.
The company said it was originally going to publish its full H1 2025 report on 21 August but has delayed that publication to 31 August.
