Nordic Halibut reports Q3 biomass growth and higher revenue

Total revenue for the quarter reached NOK24.1 million ($2.2 million), up from NOK17.4 million in the same period last year. The increase was driven by higher harvest volumes and a 4.3 per cent rise in the average sales price to NOK170 per kg HOG. The average harvest weight also improved to 5.2 kg HOG, compared to 4.8 kg in Q3 2024.

EBITDA for the quarter was positive at NOK17.6 million, a significant turnaround from a negative EBITDA of NOK11.2 million in Q3 2024. This improvement was partly due to fair value adjustments of biological assets, which amounted to NOK54 million, reflecting strong biomass growth.