Proximar Seafood Q4 2025: Improved operations and clearer harvest outlook for 2026
Yokohama, February 27, 2026: Proximar Seafood AS (“Proximar”) today reported its fourth quarter and preliminary full year 2025 results. The quarter showed continued operational improvement with stable biology, normalized feeding and steady growth across the facility.
Biological control has improved significantly after AI fish cameras were taken into use in December, verifying standing biomass and monitoring growth performance, which is showing solid improvements. The company ended the year with close to 2,000 tonnes in standing biomass, providing a solid foundation for improved harvest weights and price achievement through 2026.
“Our performance throughout 2025 is a testament to the work of our team and their determination. In the fourth quarter, we continued our good operational development and we reached our targeted biomass level by year‑end. We enter 2026 with full production capacity, stable operations and strong customer demand. As volumes increase and harvest weights normalize from the second quarter, we expect to see a significantly improved price achievement and a more predictable performance,” said CEO Joachim Nielsen.
- Q4 2025 highlights -
• Standing biomass of 1,949 tonnes at year‑end, up from 1,389 tonnes in Q3 • Survival rate of 99.7% in the grow‑out • 339 tonnes harvested in the quarter, bringing total 2025 harvests to 1,338 tonnes HOG • Average harvest weight of around 2.1 kg HOG, with +98% superior grade • Average net sales price of approximately NOK 65 per kg in the quarter • Price achievement of approximately NOK 112 per kg for fish above 3 kg HOG • Equity ratio improved to 28.6% from 24.2% in the previous year, reflecting a stronger balance sheet, following a successful refinancing which reduced total debt by NOK 173 million. • Expected full‑year 2026 harvest of 3,500–4,000 tonnes HOG.
- Demonstrated demand for premium, locally farmed salmon -
Throughout 2025, the company harvested fish on a weekly basis and supplied 1,338 tonnes of fresh Fuji Atlantic salmon to the market in Japan. Market response has been encouraging and demand for Fuji Atlantic salmon remains strong.
Price achievement for fish above 3 kg HOG has remained solid throughout the year, confirming the significant cost advantage of local production in Japan. Demand remains strong, confirming the advantages of proximity, freshness, and predictable supply.
- Improved growth supporting higher harvest weights from Q2 2026 onward -
In the first quarter of 2026, Proximar is harvesting the remaining fish affected by earlier production disruptions, and average harvest weight for the period is expected to be around 2.4 kg HOG. The lower average harvest weights will temporarily affect cash flow, and the company is in process with banks to secure additional short-term credit lines. Proximar has also proactively requested a covenant waiver related to the revised harvest plan and continues to experience strong support from its lenders.
From the second quarter, harvest weights are expected to normalize and increase to 3.5–3.8 kg HOG on average for the remainder of the year, resulting in improved price achievement. Full‑year harvest is expected to reach 3,500–4,000 tonnes HOG.
- Presentation and webcast -
The fourth quarter and preliminary full‑year 2025 materials are enclosed and available at www.proximar.com.
Proximar will present its Q4 results today at 08:00 CET in a live webcast hosted by CEO Joachim Nielsen and CFO Tetsuya Kobayashi. The webcast can be followed live at the following link: https://events.webcast.no/proximar/2026/proximar-q4-2025.
A recording will be made available after the event. Written questions may be submitted during the webcast.
For more information, please contact: Joachim Nielsen, CEO, ir@proximar.com
About Proximar Seafood Proximar Seafood is a Norwegian land-based salmon farming company with its first production facility and production at the foot of Mount Fuji in Japan. The company inserted its first batch of eggs in October 2022 and carried out its first harvest on 30 September 2024. Proximar’s brand and logo (Fuji Atlantic Salmon) were officially launched in October 2024 at our partner Marubeni Corporation’s head quarter in Tokyo. Through land-based salmon farming, using high-quality groundwater secured close to Mount Fuji, the company produces fresh Atlantic Salmon, harvested the same day. Proximar's location, near one of the world's most important fish markets, implies significant advantages, both in terms of reduced cost and carbon footprint.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.