Bakkafrost Scotland more than tripled the number of smolts stocked in Q2
Freshwater segment increased revenue and reduced losses
Bakkafrost Scotland more than tripled the number of smolts stocked at sea in Q2 2026 compared to the same period last year, although average weights were lower than in Q2 2025.
The company transferred approximately 3.885 million smolts to sea in Q2, compared to 917,000 transferred in the same quarter last year.
Almost 1.489 million (38%) of the smolts stocked in Q2 were externally sourced, with another 1.130 million from Bakkafrost’s Applecross smolt facility, and 1.266 million from the company’s other hatcheries.
The average weight of all smolts stocked at sea in Q2 was 137 grams, down from 170g in Q2 2025, and the average weight of smolts from Applecross was 219g (243g).
4.9 million smolts in H1
In the first half of this year, Bakkafrost Scotland stocked 4.931 million (H1 2025: 1.499 million) smolts at sea, with an average weight of 154g (170g), and remains on target to stock 10 million smolts this year. The average weight of all smolts stocked at sea is expected at 179g for the full year.
In the second quarter, the operating revenue for the Freshwater Scotland segment was DKK 72 million (ÂŁ8.24m), an increase of 242% compared to DKK 21m in the same period last year, and reduced its operating loss from DKK -72m to DKK -30m.
The segment’s operating loss per kilo of smolt produced was much reduced, from DKK -464.58 in Q2 2025 to DKK -55.81, although this still represents an operational EBIT margin of -41%.
For the first half of 2026, the operating revenue was DKK 113m (DKK 37m) and the operational EBIT/kg was DKK -75.48 (DKK -280.08).
Stable operation
In its Q2 2026 presentation, Bakkafrost said the Applecross facility had achieved stable operation and improved biosecurity, but was still using only 35% of capacity. The company is focused on a steady ramp-up of the production of large, high quality smolts, and will produce some smolts of between 200 and 400g this year.
“The continued ramp-up at Applecross is an important element in building a stronger biological foundation for the Scottish marine farming operations,” Bakkafrost said in its Q2 report.
As with the farming segment, Bakkafrost Scotland’s freshwater financial results contrasted with those of Bakkafrost Faroes, a longer established recirculating aquaculture system (RAS) operation that produces much larger post-smolts in several facilities.
The Faroes freshwater segment made revenue of DKK 272.6m, an operating profit of DKK 82m, and EBIT per kilo of DKK 34.13. It transferred 5.62 million smolts at an average weight of 427g.
Bakkafrost’s expected smolt transfer in 2026 in the Faroes is around 20 million smolts with an average weight of around 440g.