Proximar Seafood Production Update: Harvest size distribution developing positively
Bergen/Yokohama, 1 July 2026
During the quarter, Proximar Seafood (“Proximar”) harvested 726 tonnes HOG, down from 697 tonnes HOG in the first quarter of 2026, bringing the total harvest since September 2024 to around 2,800 tonnes HOG. Biological indicators remained strong, with 99.3% superior grade in the quarter and 98.9% survival rate for the grow-out.
As of 30 June 2026, standing biomass was 1,730 tonnes, compared to 1,880 tonnes as of 31 March 2026. Including the harvested biomass of 875 tonnes LW, gross biomass growth in the quarter was 726 tonnes. Feeding was temporarily impacted by elevated turbidity likely caused by operational parameters, with the root cause still being identified. Turbidity levels have since improved and is no longer restricting feeding, with appetite developing positively.
Proximar currently has approximately 2.1 million healthy salmon in production.
In June, the targeted harvest of smaller fish was initiated to free up tank capacity and prioritize increasing the average harvest sizes to above 3 kg, as announced in the first quarter 2026 presentation. The adjusted harvest plan impacted average harvest weights in the second quarter, which ended at 2.56 kg HOG. Despite this, harvest sizes are trending up and increased from ~2.25 kg HOG in the previous quarter, demonstrating continued positive size distribution developments.
The average net sales price improved in the second quarter to ~NOK 64/kg (Q1 2026: 54/kg) but remained impacted by a weaker spot market and limited contracted sales of fish above 3 kg. For fish above 3 kg HOG, average price achievement was ~NOK 75/kg (Q1 2026: 75/kg). Despite the weaker spot market, sales prices with our loyal customers remained stable, highlighting the value of contracted customers. Market conditions are expected to improve in the third quarter, supported by an increase in contracted sales.
Please see attached for further production details.
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.