Andfjord Salmon has announced strong biological performance across its two operational pools, K0 and K1, with total standing biomass reaching 1584 tonnes. The company also confirmed that its first post-smolt sale of approximately 450,000 fish will take place in mid-June, ahead of schedule.
Survival rates in pools K0 and K1 remain above 99 percent. K0, with fish that have spent eight months in the pool, recorded a survival rate of 99.17 percent, an average weight of 2102 grams, and a feed conversion ratio (FCR) of 1.03. K1, with fish at six-and-a-half months, achieved a survival rate of 99.24 percent, an average weight of 1150 grams and an FCR of 0.93.
“The solid biological conditions are reflected in the salmon’s weight gain and the resulting biomass growth. We also maintain efficient feed utilisation,” said Martin Rasmussen, CEO of Andfjord Salmon.
The inaugural post-smolt sale to Eidsfjord Sjøfarm, originally announced on 20 April, has been accelerated due to stronger-than-expected growth in pool K1. Approximately 450,000 post-smolt will be sold, while around 300,000 fish will be retained in K1 for grow-out purposes.
“Our inaugural post-smolt sale is an important milestone as it demonstrates how our infrastructure solutions enable scaling and optimisation of pool capacity and production, which shortens our runway to revenue and improves our cash flow,” Rasmussen added.
The partnership with Eidsfjord Sjøfarm also secures smolt sourcing for Andfjord Salmon and a processing agreement with Holmøy Havbruk.
In a further scaling of operations, approximately 550,000 smolt with an average weight of 120 grams are being released into pool K3, following successful testing of the pool’s flow-through system throughout April and May. The smolt were purchased from Eidsfjord Sjøfarm under the existing cooperation agreement.
“The initiation of fish farming operations in pool K3 represents further scale-up of operations at Kvalnes, with more pools to follow later this year,” Rasmussen said.
Andfjord Salmon has also entered into fixed-price contracts with Entreprenør Harald Nilsen AS for the construction of pools K5 and K7, the same contractor currently completing pools K2 and K4.
The company reported a net loss of NOK 23.9 million in the first quarter of 2026, with total operating income limited to NOK 0.1 million as production cycles continue ahead of the mid-June post-smolt sale. During the quarter, Andfjord Salmon strengthened its bank financing, increasing the total facility by NOK 200 million to NOK 1.5 billion, of which NOK 600 million remains undrawn.
