Andfjord Salmon: Strong growth momentum in all pools

1.10.2026 07:00:08 CEST | Andfjord Salmon | Non-regulatory press releases

Andfjord Salmon Group AS (Andfjord Salmon) is pleased to announce that all three stocked pools at Kvalnes, Andøya, have delivered strong growth and high survival rates during September, with pool K1 showing particularly strong growth. The company is currently preparing for the first harvest of this production cycle.

As of yesterday, 30 September 2026, biological KPIs for the company's three operational pools - K0 (grow-out), K1 (grow-out) and K3 (post-smolt) - were as

follows:

Total standing biomass: 2,580 tonnes, up 25% during September

Net production (September): 512 tonnes

Aggregate survival rate in 2026: 97.98%

Accumulated feed conversion ratio in 2026: 1.036

Average weight per fish: 3,502 grams (K0), 3,485 grams (K1) and 720 grams (K3)

"It is encouraging to see the salmon thrive in our pools, as demonstrated by a survival rate of 97.98% so far and strong growth rates," says Martin Rasmussen, CEO of Andfjord Salmon.

ACCELERATED GROWTH IN K1

Growth in pool K1 has been particularly strong during September and the previous months, following the biomass reduction in June when around 450,000 fish were sold as post-smolt. The average weight per salmon in K1 was 3,485 grams as of 30 September, up 31 percent since the beginning of September and up 263 percent since the end of June.

"Growth in pool K1 has been solid from day one, but we have seen a hockey stick effect after we lowered the pool's biomass density in June. This is in line with our strategy of capitalising on available pool capacity to maximize production volumes, and subsequently scale down biomass to stimulate a steeper growth curve for the remaining fish in the pool," adds Martin Rasmussen.

PREPARING K0 HARVEST

Andfjord Salmon is currently preparing the harvest of the first batch of grow-out salmon from pool K0, where the company will apply the same strategy of gradually reducing biomass density to stimulate a steeper growth curve for the remaining fish. Hence, the fish in pool K0 are likely to be harvested in three different batches between October 2026 and the first quarter of 2027, at different weight intervals.

Andfjord Salmon estimates that harvest weights (live weight) from pool K0 and K1 will range from an initial 3.6 kilograms to around 5.6 kilograms for the final harvest. The average harvest weight is estimated at above 4 kg (HOG), in line with the long-term strategy of targeting an average harvest weight of 4.0-4.5 kg.

"Harvesting some of our salmon earlier than others enables the remaining fish to reach higher harvest weights at an accelerated pace. This is a biologically and financially sensible production planning method. We look forward to entering an exciting harvesting period," says Martin Rasmussen.

CONTACTS

* Investors: Bjarne Martinsen, CFO, Andfjord Salmon Group AS, +47 975 08 345,

bjarne.martinsen@andfjord.no

* Media: Martin Rasmussen, CEO, Andfjord Salmon Group AS, +47 975 08 665,

martin@andfjord.no

ABOUT ANDFJORD SALMON

Located at Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord Salmon is developing the world's most sustainable and fish-friendly aquaculture facility of its kind. Through a proprietary flow-through system, Andfjord Salmon combines the best from ocean and land-based salmon farming. In its first production cycle, the company achieved an industry-leading survival rate of 97.5 percent, feed conversion ratio of 1.05, superior share of 91.1 percent, and required 1 kWh to produce one kilo of salmon. For more information, see www.andfjordsalmon.com - http://www.andfjordsalmon.com