Sector

2,232 companies ranked against comparable companies in four Morning company classes. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology

Ranking · 2025 · Morning class Large

Morning class Large · 2025
#CompanyProfileScoreChangeFive years
1 AQUAGEN AS Leader 86 +4
2 MOWI MARKETS NORWAY AS Leader 77 +9
3 NORDSJØ FJORDBRUK AS Leader 77 +9
4 ØYFISK AS Leader 74 +3
5 ELLINGSEN SEAFOOD AS Leader 74 −5
6 PRESTFJORD ASsubsidiary of HOLMØY HOLDING INVEST AS Leader 74 +12
7 NOVA SEA HAVBRUK AS Leader 74 +4
8 GRATANGLAKS AS Leader 74 +20
9 KVERVA INDUSTRIER AS Leader 71 −7
10 GILDESKÅL FORSKNINGSSTASJON AS Leader 71 −15
11 SUFI AS Leader 71 +20
12 TROLAND LAKSEOPPDRETT AS Leader 71 +12
13 AS MØRE CODFISH COMPsubsidiary of GUSTAV STOKKE HOLDING AS Leader 71 −1
14 LOFOTEN SJØPRODUKTER AS Leader 69 −2
15 LOVUNDLAKS SJØ ASsubsidiary of SJYBOL AS Leader 69 −14
16 NORDLAKS SMOLT AS Leader 69 0
17 Kleiva Fiskefarm AS Sprinter 67 +25
18 LERØY AURORA SJØ AS Steward 66 −1
19 CERMAQ NORWAY SALMON AS Steward 65 −6
20 HELGELAND SMOLT AS Leader 65 −5
21 LOFOTEN VIKING ASsubsidiary of NERGÅRD AS Leader 65 −9
22 NORSK SJØMAT STRANDA AS Sprinter 64 +13
23 FINNMARK HAVFISKE AS Leader 63 +15
24 HAUGLAND GRUPPEN AS Steward 63 +6
25 NORDLAKS HAVBRUK AS Steward 62 −5
26 LERØY SEAFOOD INDUSTRI AS Leader 62 +8
27 BLOM FISKEOPPDRETT AS Sprinter 62 +33
28 NERGÅRD HAVFISKE ASsubsidiary of NERGÅRD AS Sprinter 62 +18
29 NORDLAKS OPPDRETT ASsubsidiary of NORDLAKS HOLDING AS Leader 61 +15
30 EGIL KRISTOFFERSEN & SØNNER AS Steward 61 −2
31 STELLA POLARIS AS Sprinter 61 +16
32 GLOBAL FLORØ ASsubsidiary of GLOBAL FISH AS Leader 61 −13
33 KOBBEVIK OG FURUHOLMEN OPPDRETT AS Leader 60 −17
34 FJORDLAKS AS Leader 60 +31
35 LOFOTPRODUKT AS Steward 59 +3
36 NORDLAKS PRODUKTER ASsubsidiary of NORDLAKS HOLDING AS Leader 59 +8
37 BRØDRENE SPERRE AS Leader 59 +6
38 HOLMØY HAVBRUK AS Sprinter 59 −3
39 PRIMA PROTEIN AS Leader 57 +1
40 LERØY AURORA AS Leader 57 +11
41 NORDLAND HAVFISKE AS Sprinter 57 +19
42 MOWI SEAWATER NORWAY AS Steward 57 +3
43 SJØTROLL HAVBRUK AS Steward 57 0
44 VIKENCO ASsubsidiary of SALMAR AS Sprinter 57 +16
45 LERØY MIDT SJØ AS Steward 55 −2
46 MYRE FISKEMOTTAK AS Sprinter 55 +11
47 TYTLANDSVIK AQUA AS Sprinter 54 +5
48 EIDE FJORDBRUK AS Sprinter 54 +5
49 AKER BIOMARINE AS Sprinter 54 +28
50 MÅSØVAL LISENS AS Steward 53 +11

The rank is the rank in the class. A class with fewer than ten companies is compared with the whole sector. Full ranking · Press mode

Biggest moves · Morning class Large

  • BOLAKS FJORDBRUK AS

    From 2024 to 2025: the operating margin fell from 18.4% to −5.8% and went from a profit to a loss before tax.

    −39
  • TOMBRE FISKEANLEGG AS

    From 2024 to 2025: the operating margin fell from 15.2% to −8.6% and went from a profit to a loss before tax.

    −39
  • BLOM FISKEOPPDRETT AS

    From 2024 to 2025: the operating margin rose from −10.8% to 14.1% and went from a loss to a profit before tax.

    +33
  • FJORDLAKS AS

    From 2024 to 2025: the operating margin rose from 4.7% to 12.3% and revenue grew by 21%.

    +31
Summary analysis

Sjømat, Morning class Large: 111 ranked companies in fiscal year 2025.

Best in the sector: AQUAGEN AS (score 86, operating margin 29.7%, equity ratio 79.3%). MOWI MARKETS NORWAY AS (score 77, operating margin 5.3%, equity ratio 74.4%). NORDSJØ FJORDBRUK AS (score 77, operating margin 12.8%, equity ratio 47.1%).

Weakest in the sector: GRIEG SEAFOOD FARMING AS (score 13, operating margin −1.7%, equity ratio 7.3%). ISFJORD NORWAY AS (score 15, operating margin −2.5%, equity ratio 13.7%). NORWEGIAN FISHFARMING TECHNOLOGIES AS (score 18, operating margin −8.0%, equity ratio −7.2%).

Worth a closer look

Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made

Top lists in the sector · 2025 · Morning class Large

The five largest companies account for 38% of the sector's revenue. Combined profit before tax for the 108 ranked companies: −321,841 MNOK.

Highest revenue

  1. MOWI MARKETS NORWAY AS 26,449 MNOK
  2. SALMAR ASsubsidiary of SALMAR ASA 24,025 MNOK
  3. MOWI ASA 22,111 MNOK
  4. SALMAR OPPDRETT AS 18,994 MNOK
  5. MOWI SEAWATER NORWAY AS 18,324 MNOK

Operating revenue.

Highest operating margin

  1. KVERVA INDUSTRIER AS 93.9%
  2. NORDLAKS SMOLT AS 48.8%
  3. HELGELAND SMOLT AS 37.3%
  4. AQUAGEN AS 29.7%
  5. NERGÅRD HAVFISKE ASsubsidiary of NERGÅRD AS 28.6%

Operating result divided by operating revenue.

Largest profit

  1. MOWI MARKETS NORWAY AS 1,636 MNOK
  2. KVERVA INDUSTRIER AS 1,584 MNOK
  3. CERMAQ NORWAY ASsubsidiary of CERMAQ GROUP AS 1,087 MNOK
  4. SALMAR FARMING AS 943 MNOK
  5. MOWI ASA 750 MNOK

Profit before tax.

Largest loss

  1. HAUGLAND GRUPPEN AS −335,504 MNOK
  2. LERØY NORWAY SEAFOODS AS −275 MNOK
  3. MÅSØVAL LISENS AS −241 MNOK
  4. ERKO SEAFOOD AS −192 MNOK
  5. LINGALAKS AS −147 MNOK

Profit before tax, the largest negative.

Most solid

  1. LOFOTEN VIKING ASsubsidiary of NERGÅRD AS 86.4%
  2. AS MØRE CODFISH COMPsubsidiary of GUSTAV STOKKE HOLDING AS 81.0%
  3. NORDLAKS HAVBRUK AS 79.7%
  4. EGIL KRISTOFFERSEN & SØNNER AS 79.6%
  5. AQUAGEN AS 79.3%

Equity ratio: equity divided by total assets.

Fastest growth

  1. MÅSØVAL LISENS AS +2,054.8%
  2. SINKABERG NT145 AS +1,605.5%
  3. MÅSØVAL DRIFT AS +334.4%
  4. ODE AS +121.9%
  5. NORDSJØ FJORDBRUK AS +73.9%

Revenue growth from the year before, only from at least NOK 10 million in revenue.

Largest revenue decline

  1. FIRDA SJØFARMER AS −66.3%
  2. SINKABERG DRIFT AS −32.5%
  3. POLARFEED ASsubsidiary of NORDLY HOLDING AS −30.2%
  4. KOBBEVIK OG FURUHOLMEN OPPDRETT AS −29.7%
  5. LOFOTEN VIKING ASsubsidiary of NERGÅRD AS −29.0%

Revenue decline from the year before, only from at least NOK 10 million in revenue.

Biggest climbers

  1. BLOM FISKEOPPDRETT AS +33.6 points
  2. FJORDLAKS AS +30.5 points
  3. AKER BIOMARINE AS +28.0 points
  4. SEASHORE INDUSTRI ASsubsidiary of SEASHORE SJØ AS +27.3 points
  5. Kleiva Fiskefarm AS +25.4 points

Change in index points from the year before.

Biggest fallers

  1. BOLAKS FJORDBRUK AS −39.4 points
  2. TOMBRE FISKEANLEGG AS −38.7 points
  3. BJØRØYA AS −27.9 points
  4. FOSNAVAAG PELAGIC AS −20.7 points
  5. NILS SPERRE AS −18.1 points

Change in index points from the year before.

Most employees

  1. MOWI ASA 2,913
  2. SALMAR ASsubsidiary of SALMAR ASA 1,379
  3. SALMAR FARMING AS 1,278
  4. CERMAQ NORWAY ASsubsidiary of CERMAQ GROUP AS 1,254
  5. PELAGIA ASsubsidiary of PELAGIA HOLDING AS 881

Employees according to the Central Coordinating Register.

Highest revenue per employee

  1. HAUGLAND GRUPPEN AS 836.7 MNOK
  2. CERMAQ NORWAY SALMON AS 483.7 MNOK
  3. MOWI SEAWATER NORWAY AS 426.1 MNOK
  4. NORDLAKS HAVBRUK AS 352.7 MNOK
  5. GRIEG SEAFOOD FARMING AS 231.5 MNOK

Only companies with at least 5 employees.

The lists cover ranked companies in the class: operating companies with at least NOK 1m in revenue, without holding companies and excluded ones. Size lists (revenue, profit, employees) count each group once. Source: Brønnøysund Register Centre. Amounts in other currencies are converted at Norges Bank's rates.

Quadrant analysis

Positions in the sector · 2025 · Morning class Large

Each company is placed by profitability and solidity, measured as a place from 0 to 100 against the others in the same sector and Morning company class. The bubble shows revenue. Hover over or tap a bubble for the figures, filter by profile or search for a company.

MOWI MARKETS NORWAY AS: 78 / 94SALMAR AS: 40 / 9MOWI ASA: 55 / 54SALMAR OPPDRETT AS: 56 / 1MOWI SEAWATER NORWAY AS: 23 / 87SALMAR FARMING AS: 49 / 47PELAGIA AS: 25 / 72CERMAQ NORWAY SALMON AS: 47 / 93CERMAQ NORWAY AS: 85 / 25LERØY MIDT AS: 58 / 50HAUGLAND GRUPPEN AS: 33 / 79VIKENCO AS: 79 / 46LERØY MIDT SJØ AS: 16 / 95NORDLAKS HAVBRUK AS: 34 / 98NOVA SEA HAVBRUK AS: 78 / 85LERØY AURORA AS: 69 / 65LERØY AURORA SJØ AS: 39 / 95BRØDRENE SPERRE AS: 61 / 55NORDLAKS OPPDRETT AS: 59 / 63LERØY VEST SJØ AS: 11 / 41LERØY VEST AS: 43 / 78HOLMØY HAVBRUK AS: 72 / 30GRIEG SEAFOOD ROGALAND AS: 40 / 0SEASHORE SJØ AS: 27 / 3SINKABERG DRIFT AS: 79 / 59SJØTROLL HAVBRUK AS: 44 / 84THE QRILL COMPANY AS: 55 / 15MÅSØVAL LISENS AS: 6 / 88MÅSØVAL DRIFT AS: 64 / 19SJØTROLL HAVBRUK SJØ AS: 9 / 33KARLSØYBRUKET AS: 45 / 28FIRST SEAFOOD AS: 53 / 6NORSK SJØMAT STRANDA AS: 77 / 43NORDSJØ FJORDBRUK AS: 80 / 73HOFSETH AALESUND AS: 34 / 42KVERVA INDUSTRIER AS: 97 / 89LOVUNDLAKS SJØ AS: 95 / 80NILS SPERRE AS: 34 / 35SINKABERG HAVBRUK AS: 14 / 22HOFSETH AS: 67 / 61EIDE FJORDBRUK AS: 64 / 21SALMAR SETTEFISK AS: 71 / 14FIRDA HAVBRUK AS: 16 / 13MYRE FISKEMOTTAK AS: 53 / 34EIDSFJORD SJØFARM AS: 47 / 52JANGAARD EXPORT AS: 53 / 53GRIEG SEAFOOD FARMING AS: 17 / 2LERØY NORWAY SEAFOODS AS: 1 / 76SINKABERG NT145 AS: 84 / 21GLOBAL FLORØ AS: 64 / 75AKER BIOMARINE AS: 67 / 45SEAFOOD FARMERS OF NORWAY AS: 28 / 23ISFJORD NORWAY AS: 11 / 4HOFSETH AQUA AS: 62 / 11NORDLAND HAVFISKE AS: 91 / 37FJORDLAKS AS: 67 / 58BJØRØYA AS: 25 / 20DOMSTEIN SJØMAT AS: 20 / 11NERGÅRD HAVFISKE AS: 85 / 48HOFSETH SEA FARMING AS: 13 / 5ELLINGSEN SEAFOOD AS: 88 / 91LOFOTPRODUKT AS: 39 / 68Kvarøy Fiskeoppdrett A/S: 45 / 8AS BOLAKS: 19 / 56LINGALAKS AS: 9 / 16SALAKS PRODUKSJON AS: 65 / 39PRIMA PROTEIN AS: 83 / 69AQUAGEN AS: 98 / 96SJØMATHUSET AS: 42 / 51PRESTFJORD AS: 80 / 71BJØRØYA DRIFT AS: 28 / 26ODE AS: 48 / 29BOLAKS FJORDBRUK AS: 8 / 40LOFOTEN VIKING AS: 50 / 100VIKOMAR AS: 28 / 31AS MØRE CODFISH COMP: 57 / 99TOMBRE FISKEANLEGG AS: 3 / 60BLOM FISKEOPPDRETT AS: 87 / 38Kleiva Fiskefarm AS: 75 / 49SEASHORE INDUSTRI AS: 6 / 77ERKO SEAFOOD AS: 1 / 53FLAKSTADVÅG LAKS AS: 82 / 18LOFOTEN SJØPRODUKTER AS: 82 / 66SUFI AS: 80 / 57FINNMARK HAVFISKE AS: 90 / 62TROLAND LAKSEOPPDRETT AS: 57 / 82EGIL KRISTOFFERSEN & SØNNER AS: 8 / 97SOTRA FISKEINDUSTRI AS: 26 / 36GILDESKÅL FORSKNINGSSTASJON AS: 86 / 84BRØDRENE KARLSEN AS: 2 / 24HELGELAND SMOLT AS: 79 / 64EMILSEN HAVBRUK AS: 6 / 70FOSNAVAAG PELAGIC AS: 18 / 42GRATANGLAKS AS: 62 / 86OLAV E FISKERSTRAND AS: 23 / 44ABYSS AS: 58 / 12TUFJORDBRUKET AS: 45 / 32TRIPLENINE VEDDE AS: 30 / 90NORWEGIAN FISHFARMING TECHNOLOGIES AS: 6 / 0KOBBEVIK OG FURUHOLMEN OPPDRETT AS: 53 / 83STELLA POLARIS NORWAY AS: 59 / 7NORDLAKS PRODUKTER AS: 81 / 92LERØY SEAFOOD INDUSTRI AS: 71 / 67FIRDA SJØFARMER AS: 43 / 74ERVIK SEAFOOD AS: 70 / 17STELLA POLARIS AS: 80 / 32NORDLAKS SMOLT AS: 93 / 81ØYFISK AS: 83 / 74POLARFEED AS: 55 / 10TYTLANDSVIK AQUA AS: 77 / 27LERØY FOSSEN AS: 18 / 6300252550507575100100Solidity, percentile against peers →↑ Profitability, percentile against peers
MOWI MARKETS NORWAY AS: 78 / 94SALMAR AS: 40 / 9MOWI ASA: 55 / 54SALMAR OPPDRETT AS: 56 / 1MOWI SEAWATER NORWAY AS: 23 / 87SALMAR FARMING AS: 49 / 47PELAGIA AS: 25 / 72CERMAQ NORWAY SALMON AS: 47 / 93CERMAQ NORWAY AS: 85 / 25LERØY MIDT AS: 58 / 50HAUGLAND GRUPPEN AS: 33 / 79VIKENCO AS: 79 / 46LERØY MIDT SJØ AS: 16 / 95NORDLAKS HAVBRUK AS: 34 / 98NOVA SEA HAVBRUK AS: 78 / 85LERØY AURORA AS: 69 / 65LERØY AURORA SJØ AS: 39 / 95BRØDRENE SPERRE AS: 61 / 55NORDLAKS OPPDRETT AS: 59 / 63LERØY VEST SJØ AS: 11 / 41LERØY VEST AS: 43 / 78HOLMØY HAVBRUK AS: 72 / 30GRIEG SEAFOOD ROGALAND AS: 40 / 0SEASHORE SJØ AS: 27 / 3SINKABERG DRIFT AS: 79 / 59SJØTROLL HAVBRUK AS: 44 / 84THE QRILL COMPANY AS: 55 / 15MÅSØVAL LISENS AS: 6 / 88MÅSØVAL DRIFT AS: 64 / 19SJØTROLL HAVBRUK SJØ AS: 9 / 33KARLSØYBRUKET AS: 45 / 28FIRST SEAFOOD AS: 53 / 6NORSK SJØMAT STRANDA AS: 77 / 43NORDSJØ FJORDBRUK AS: 80 / 73HOFSETH AALESUND AS: 34 / 42KVERVA INDUSTRIER AS: 97 / 89LOVUNDLAKS SJØ AS: 95 / 80NILS SPERRE AS: 34 / 35SINKABERG HAVBRUK AS: 14 / 22HOFSETH AS: 67 / 61EIDE FJORDBRUK AS: 64 / 21SALMAR SETTEFISK AS: 71 / 14FIRDA HAVBRUK AS: 16 / 13MYRE FISKEMOTTAK AS: 53 / 34EIDSFJORD SJØFARM AS: 47 / 52JANGAARD EXPORT AS: 53 / 53GRIEG SEAFOOD FARMING AS: 17 / 2LERØY NORWAY SEAFOODS AS: 1 / 76SINKABERG NT145 AS: 84 / 21GLOBAL FLORØ AS: 64 / 75AKER BIOMARINE AS: 67 / 45SEAFOOD FARMERS OF NORWAY AS: 28 / 23ISFJORD NORWAY AS: 11 / 4HOFSETH AQUA AS: 62 / 11NORDLAND HAVFISKE AS: 91 / 37FJORDLAKS AS: 67 / 58BJØRØYA AS: 25 / 20DOMSTEIN SJØMAT AS: 20 / 11NERGÅRD HAVFISKE AS: 85 / 48HOFSETH SEA FARMING AS: 13 / 5ELLINGSEN SEAFOOD AS: 88 / 91LOFOTPRODUKT AS: 39 / 68Kvarøy Fiskeoppdrett A/S: 45 / 8AS BOLAKS: 19 / 56LINGALAKS AS: 9 / 16SALAKS PRODUKSJON AS: 65 / 39PRIMA PROTEIN AS: 83 / 69AQUAGEN AS: 98 / 96SJØMATHUSET AS: 42 / 51PRESTFJORD AS: 80 / 71BJØRØYA DRIFT AS: 28 / 26ODE AS: 48 / 29BOLAKS FJORDBRUK AS: 8 / 40LOFOTEN VIKING AS: 50 / 100VIKOMAR AS: 28 / 31AS MØRE CODFISH COMP: 57 / 99TOMBRE FISKEANLEGG AS: 3 / 60BLOM FISKEOPPDRETT AS: 87 / 38Kleiva Fiskefarm AS: 75 / 49SEASHORE INDUSTRI AS: 6 / 77ERKO SEAFOOD AS: 1 / 53FLAKSTADVÅG LAKS AS: 82 / 18LOFOTEN SJØPRODUKTER AS: 82 / 66SUFI AS: 80 / 57FINNMARK HAVFISKE AS: 90 / 62TROLAND LAKSEOPPDRETT AS: 57 / 82EGIL KRISTOFFERSEN & SØNNER AS: 8 / 97SOTRA FISKEINDUSTRI AS: 26 / 36GILDESKÅL FORSKNINGSSTASJON AS: 86 / 84BRØDRENE KARLSEN AS: 2 / 24HELGELAND SMOLT AS: 79 / 64EMILSEN HAVBRUK AS: 6 / 70FOSNAVAAG PELAGIC AS: 18 / 42GRATANGLAKS AS: 62 / 86OLAV E FISKERSTRAND AS: 23 / 44ABYSS AS: 58 / 12TUFJORDBRUKET AS: 45 / 32TRIPLENINE VEDDE AS: 30 / 90NORWEGIAN FISHFARMING TECHNOLOGIES AS: 6 / 0KOBBEVIK OG FURUHOLMEN OPPDRETT AS: 53 / 83STELLA POLARIS NORWAY AS: 59 / 7NORDLAKS PRODUKTER AS: 81 / 92LERØY SEAFOOD INDUSTRI AS: 71 / 67FIRDA SJØFARMER AS: 43 / 74ERVIK SEAFOOD AS: 70 / 17STELLA POLARIS AS: 80 / 32NORDLAKS SMOLT AS: 93 / 81ØYFISK AS: 83 / 74POLARFEED AS: 55 / 10TYTLANDSVIK AQUA AS: 77 / 27LERØY FOSSEN AS: 18 / 6300252550507575100100Solidity, percentile against peers →↑ Profitability, percentile against peers

Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2024 (small ring).

  • Lion · LeaderHigh profitability, high solidity
  • Cheetah · SprinterHigh profitability, lower solidity
  • Elephant · StewardLower profitability, high solidity
  • Beaver · BuilderLower profitability, lower solidity
Show the positions as a list
CompanyProfileProfitabilitySolidityIn 2024 (profitability / solidity)
AQUAGEN ASLion989687 / 96
KVERVA INDUSTRIER ASLion978995 / 89
LOVUNDLAKS SJØ ASLion958091 / 92
NORDLAKS SMOLT ASLion9381–
NORDLAND HAVFISKE ASCheetah913770 / 38
FINNMARK HAVFISKE ASLion906269 / 63
ELLINGSEN SEAFOOD ASLion889192 / 88
BLOM FISKEOPPDRETT ASCheetah87385 / 22
GILDESKÅL FORSKNINGSSTASJON ASLion868495 / 83
NERGÅRD HAVFISKE ASCheetah854867 / 33
CERMAQ NORWAY ASCheetah852588 / 41
SINKABERG NT145 ASCheetah8421–
ØYFISK ASLion8374–
PRIMA PROTEIN ASLion836989 / 57
FLAKSTADVÅG LAKS ASCheetah821886 / 18
LOFOTEN SJØPRODUKTER ASLion826686 / 62
NORDLAKS PRODUKTER ASLion819233 / 95
NORDSJØ FJORDBRUK ASLion807395 / 70
SUFI ASLion805760 / 44
STELLA POLARIS ASCheetah803269 / 23
PRESTFJORD ASLion807165 / 67
SINKABERG DRIFT ASLion795962 / 87
HELGELAND SMOLT ASLion796472 / 74
VIKENCO ASCheetah794662 / 28
NOVA SEA HAVBRUK ASLion788569 / 79
MOWI MARKETS NORWAY ASLion789474 / 80
NORSK SJØMAT STRANDA ASCheetah774365 / 36
TYTLANDSVIK AQUA ASCheetah772762 / 15
Kleiva Fiskefarm ASCheetah754922 / 45
HOLMØY HAVBRUK ASCheetah723083 / 55
SALMAR SETTEFISK ASCheetah711480 / 10
LERØY SEAFOOD INDUSTRI ASLion7167–
ERVIK SEAFOOD ASCheetah7017–
LERØY AURORA ASLion696547 / 51
HOFSETH ASLion676149 / 58
FJORDLAKS ASLion675823 / 35
AKER BIOMARINE ASCheetah67450 / 0
SALAKS PRODUKSJON ASCheetah653966 / 40
GLOBAL FLORØ ASLion647571 / 81
EIDE FJORDBRUK ASCheetah642149 / 27
MÅSØVAL DRIFT ASCheetah6419–
HOFSETH AQUA ASCheetah621128 / 1
GRATANGLAKS ASLion6286–
BRØDRENE SPERRE ASLion615545 / 49
NORDLAKS OPPDRETT ASLion596332 / 52
STELLA POLARIS NORWAY ASCheetah59742 / 4
ABYSS ASCheetah581240 / 6
LERØY MIDT ASCheetah585055 / 30
AS MØRE CODFISH COMPLion579952 / 97
TROLAND LAKSEOPPDRETT ASLion5782–
SALMAR OPPDRETT ASCheetah56156 / 0
THE QRILL COMPANY ASCheetah551537 / 17
MOWI ASALion555445 / 65
POLARFEED ASCheetah551040 / 3
JANGAARD EXPORT ASLion535330 / 56
MYRE FISKEMOTTAK ASCheetah533444 / 48
FIRST SEAFOOD ASCheetah53648 / 8
KOBBEVIK OG FURUHOLMEN OPPDRETT ASLion538388 / 85
LOFOTEN VIKING ASLion5010067 / 98
SALMAR FARMING ASBeaver494748 / 34
ODE ASBeaver4829–
EIDSFJORD SJØFARM ASElephant475234 / 61
CERMAQ NORWAY SALMON ASElephant479380 / 93
KARLSØYBRUKET ASBeaver452815 / 19
TUFJORDBRUKET ASBeaver453220 / 29
Kvarøy Fiskeoppdrett A/SBeaver45859 / 11
SJØTROLL HAVBRUK ASElephant448457 / 86
LERØY VEST ASElephant437840 / 82
FIRDA SJØFARMER ASElephant437485 / 42
SJØMATHUSET ASElephant425126 / 43
GRIEG SEAFOOD ROGALAND ASBeaver40069 / 12
SALMAR ASBeaver40962 / 5
LOFOTPRODUKT ASElephant396822 / 72
LERØY AURORA SJØ ASElephant399551 / 94
NORDLAKS HAVBRUK ASElephant349852 / 90
NILS SPERRE ASBeaver343558 / 64
HOFSETH AALESUND ASBeaver344241 / 37
HAUGLAND GRUPPEN ASElephant3379–
TRIPLENINE VEDDE ASElephant309057 / 99
SEAFOOD FARMERS OF NORWAY ASBeaver28235 / 25
BJØRØYA DRIFT ASBeaver2826–
VIKOMAR ASBeaver283126 / 39
SEASHORE SJØ ASBeaver27342 / 2
SOTRA FISKEINDUSTRI ASBeaver26369 / 32
PELAGIA ASElephant257232 / 53
BJØRØYA ASBeaver252076 / 31
MOWI SEAWATER NORWAY ASElephant238717 / 84
OLAV E FISKERSTRAND ASBeaver234439 / 73
DOMSTEIN SJØMAT ASBeaver201123 / 21
AS BOLAKSElephant195639 / 66
FOSNAVAAG PELAGIC ASBeaver184226 / 76
LERØY FOSSEN ASElephant186361 / 46
GRIEG SEAFOOD FARMING ASBeaver172–
LERØY MIDT SJØ ASElephant169550 / 54
FIRDA HAVBRUK ASBeaver1613–
SINKABERG HAVBRUK ASBeaver142222 / 9
HOFSETH SEA FARMING ASBeaver13512 / 7
LERØY VEST SJØ ASBeaver11416 / 59
ISFJORD NORWAY ASBeaver11423 / 16
SJØTROLL HAVBRUK SJØ ASBeaver9335 / 50
LINGALAKS ASBeaver91648 / 26
EGIL KRISTOFFERSEN & SØNNER ASElephant897–
BOLAKS FJORDBRUK ASBeaver84084 / 60
MÅSØVAL LISENS ASElephant688–
EMILSEN HAVBRUK ASElephant67011 / 68
SEASHORE INDUSTRI ASElephant6772 / 39
NORWEGIAN FISHFARMING TECHNOLOGIES ASBeaver60–
TOMBRE FISKEANLEGG ASElephant36076 / 71
BRØDRENE KARLSEN ASBeaver2245 / 14
LERØY NORWAY SEAFOODS ASElephant1761 / 77
ERKO SEAFOOD ASElephant15322 / 69
The sector in numbers

Summary · fiscal year 2025 · Morning class Large

The sector's median operating margin is 4.9%. 1 of 111 companies have negative equity. The median equity ratio is 39.0%.

Companies with accounts111
Total revenue287,402 MNOK
Median operating margin4.9%
Median equity ratio39.0%
Share with a loss29%
Share with negative equity1%

All figures are for fiscal year 2025. Ranked: 111 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index

The total counts each group once: 3 subsidiaries (7,451 MNOK in revenue) are left out of totals and size lists because their parent in the sector has at least as much revenue, so their sales can run through the parent. They are ranked as usual. Methodology

  • 5 companies report in another currency. Their revenue is converted at the mean rate for the accounting period and makes up 24% of the total.

Climbers and fallers · Morning class Large

Change in rank from 2024 to 2025, for 95 companies ranked in both years.

Climbers

  1. 67BLOM FISKEOPPDRETT ASfrom rank 94 to 2762
  2. 58FJORDLAKS ASfrom rank 92 to 3460
  3. 51AKER BIOMARINE ASfrom rank 100 to 4954
  4. 50Kleiva Fiskefarm ASfrom rank 67 to 1767
  5. 38SUFI ASfrom rank 49 to 1171

Fallers

  1. 79TOMBRE FISKEANLEGG ASfrom rank 15 to 9432
  2. 76BOLAKS FJORDBRUK ASfrom rank 25 to 10127
  3. 60BJØRØYA ASfrom rank 42 to 10227
  4. 48OLAV E FISKERSTRAND ASfrom rank 31 to 7941
  5. 46FOSNAVAAG PELAGIC ASfrom rank 44 to 9034

Awards · 2025 · Morning class Large

Most profitableKVERVA INDUSTRIER AS93.9%
Fastest growthHAUGLAND GRUPPEN AS110,104.6%
Strongest balance sheetLOFOTEN VIKING AS86.4%
Largest revenueMOWI MARKETS NORWAY AS26,449 MNOK
Highest revenue per employeeHAUGLAND GRUPPEN AS836.7 MNOK

Needs attention · 2025 · Morning class Large

49 companies show at least one warning sign. Showing the 15 most important.

Sector map · 2025 · Morning class Large

Profitability against solidity for the ranked companies. Size shows revenue. Coral triangle: negative equity. Click to open the company. Outliers are placed on the edge.

0%10%20%0%20%40%60%Operating margin (profitability) →Equity ratio (solidity) →MOWI MARKETS NORWAY AS: operating margin 5.3%, equity ratio 74.4%, rank 2SALMAR AS: operating margin 1.2%, equity ratio 16.7%, rank 98MOWI ASA: operating margin 12.8%, equity ratio 40.3%, rank 64SALMAR OPPDRETT AS: operating margin 8.5%, equity ratio 4.1%, rank 70MOWI SEAWATER NORWAY AS: operating margin −0.2%, equity ratio 64.1%, rank 42SALMAR FARMING AS: operating margin 6.0%, equity ratio 38.6%, rank 68PELAGIA AS: operating margin −0.1%, equity ratio 46.0%, rank 83CERMAQ NORWAY SALMON AS: operating margin 5.1%, equity ratio 72.7%, rank 19CERMAQ NORWAY AS: operating margin 12.4%, equity ratio 27.4%, rank 59LERØY MIDT AS: operating margin 8.0%, equity ratio 39.0%, rank 71HAUGLAND GRUPPEN AS: operating margin −419.0%, equity ratio 54.6%, rank 24VIKENCO AS: operating margin 7.0%, equity ratio 38.1%, rank 44LERØY MIDT SJØ AS: operating margin −1.5%, equity ratio 76.7%, rank 45NORDLAKS HAVBRUK AS: operating margin 3.0%, equity ratio 79.7%, rank 25NOVA SEA HAVBRUK AS: operating margin 16.6%, equity ratio 63.2%, rank 7LERØY AURORA AS: operating margin 11.8%, equity ratio 43.1%, rank 40LERØY AURORA SJØ AS: operating margin 3.2%, equity ratio 76.2%, rank 18BRØDRENE SPERRE AS: operating margin 5.1%, equity ratio 40.5%, rank 37NORDLAKS OPPDRETT AS: operating margin 7.2%, equity ratio 42.2%, rank 29LERØY VEST SJØ AS: operating margin −4.9%, equity ratio 36.6%, rank 84LERØY VEST AS: operating margin 5.2%, equity ratio 52.6%, rank 60HOLMØY HAVBRUK AS: operating margin 17.5%, equity ratio 30.5%, rank 38GRIEG SEAFOOD ROGALAND AS: operating margin 2.3%, equity ratio 3.3%, rank 106SEASHORE SJØ AS: operating margin 0.9%, equity ratio 13.2%, rank 108SINKABERG DRIFT AS: operating margin 11.3%, equity ratio 41.3%, rank 52SJØTROLL HAVBRUK AS: operating margin 5.2%, equity ratio 61.2%, rank 43THE QRILL COMPANY AS: operating margin 10.4%, equity ratio 19.3%, rank 72MÅSØVAL LISENS AS: operating margin −7.5%, equity ratio 64.9%, rank 50MÅSØVAL DRIFT AS: operating margin 3.8%, equity ratio 23.8%, rank 62SJØTROLL HAVBRUK SJØ AS: operating margin −7.1%, equity ratio 31.9%, rank 96KARLSØYBRUKET AS: operating margin 4.1%, equity ratio 29.7%, rank 63FIRST SEAFOOD AS: operating margin 0.2%, equity ratio 15.4%, rank 87NORSK SJØMAT STRANDA AS: operating margin 7.3%, equity ratio 37.8%, rank 22NORDSJØ FJORDBRUK AS: operating margin 12.8%, equity ratio 47.1%, rank 3HOFSETH AALESUND AS: operating margin 1.2%, equity ratio 37.4%, rank 95KVERVA INDUSTRIER AS: operating margin 93.9%, equity ratio 68.1%, rank 9LOVUNDLAKS SJØ AS: operating margin 21.2%, equity ratio 55.7%, rank 15NILS SPERRE AS: operating margin 2.3%, equity ratio 33.9%, rank 75SINKABERG HAVBRUK AS: operating margin −2.1%, equity ratio 25.9%, rank 88HOFSETH AS: operating margin 5.4%, equity ratio 42.1%, rank 55EIDE FJORDBRUK AS: operating margin 9.7%, equity ratio 25.0%, rank 48SALMAR SETTEFISK AS: operating margin 19.4%, equity ratio 18.4%, rank 67FIRDA HAVBRUK AS: operating margin −0.8%, equity ratio 18.2%, rank 107MYRE FISKEMOTTAK AS: operating margin 2.1%, equity ratio 33.0%, rank 46EIDSFJORD SJØFARM AS: operating margin 4.8%, equity ratio 39.5%, rank 66JANGAARD EXPORT AS: operating margin 3.9%, equity ratio 39.8%, rank 58GRIEG SEAFOOD FARMING AS: operating margin −1.7%, equity ratio 7.3%, rank 111LERØY NORWAY SEAFOODS AS: operating margin −19.0%, equity ratio 50.1%, rank 78SINKABERG NT145 AS: operating margin 13.4%, equity ratio 24.2%, rank 57GLOBAL FLORØ AS: operating margin 5.1%, equity ratio 49.0%, rank 32AKER BIOMARINE AS: operating margin 11.7%, equity ratio 38.1%, rank 49SEAFOOD FARMERS OF NORWAY AS: operating margin 0.8%, equity ratio 25.9%, rank 89ISFJORD NORWAY AS: operating margin −2.5%, equity ratio 13.7%, rank 110HOFSETH AQUA AS: operating margin 9.5%, equity ratio 17.6%, rank 91NORDLAND HAVFISKE AS: operating margin 22.9%, equity ratio 34.0%, rank 41FJORDLAKS AS: operating margin 12.3%, equity ratio 41.0%, rank 34BJØRØYA AS: operating margin 0.5%, equity ratio 24.0%, rank 102DOMSTEIN SJØMAT AS: operating margin −0.4%, equity ratio 17.4%, rank 103NERGÅRD HAVFISKE AS: operating margin 28.6%, equity ratio 38.6%, rank 28HOFSETH SEA FARMING AS: operating margin −4.5%, equity ratio 15.3%, rank 100ELLINGSEN SEAFOOD AS: operating margin 24.4%, equity ratio 69.8%, rank 5LOFOTPRODUKT AS: operating margin 2.3%, equity ratio 45.3%, rank 35Kvarøy Fiskeoppdrett A/S: operating margin 5.4%, equity ratio 16.6%, rank 82AS BOLAKS: operating margin −0.6%, equity ratio 40.6%, rank 77LINGALAKS AS: operating margin −7.5%, equity ratio 21.2%, rank 105SALAKS PRODUKSJON AS: operating margin 13.6%, equity ratio 35.3%, rank 54PRIMA PROTEIN AS: operating margin 10.5%, equity ratio 45.3%, rank 39AQUAGEN AS: operating margin 29.7%, equity ratio 79.3%, rank 1SJØMATHUSET AS: operating margin 1.5%, equity ratio 39.1%, rank 53PRESTFJORD AS: operating margin 24.4%, equity ratio 45.7%, rank 6BJØRØYA DRIFT AS: operating margin 0.9%, equity ratio 28.3%, rank 93ODE AS: operating margin 5.5%, equity ratio 30.5%, rank 73BOLAKS FJORDBRUK AS: operating margin −5.8%, equity ratio 35.3%, rank 101LOFOTEN VIKING AS: operating margin 4.5%, equity ratio 86.4%, rank 21VIKOMAR AS: operating margin 1.6%, equity ratio 31.2%, rank 97AS MØRE CODFISH COMP: operating margin 3.0%, equity ratio 81.0%, rank 13TOMBRE FISKEANLEGG AS: operating margin −8.6%, equity ratio 41.9%, rank 94BLOM FISKEOPPDRETT AS: operating margin 14.1%, equity ratio 34.8%, rank 27Kleiva Fiskefarm AS: operating margin 13.7%, equity ratio 38.9%, rank 17SEASHORE INDUSTRI AS: operating margin −6.1%, equity ratio 52.2%, rank 80ERKO SEAFOOD AS: operating margin −21.7%, equity ratio 39.9%, rank 92FLAKSTADVÅG LAKS AS: operating margin 16.4%, equity ratio 23.2%, rank 56LOFOTEN SJØPRODUKTER AS: operating margin 19.3%, equity ratio 44.9%, rank 14SUFI AS: operating margin 8.9%, equity ratio 40.9%, rank 11FINNMARK HAVFISKE AS: operating margin 26.3%, equity ratio 42.2%, rank 23TROLAND LAKSEOPPDRETT AS: operating margin 4.8%, equity ratio 56.8%, rank 12EGIL KRISTOFFERSEN & SØNNER AS: operating margin −8.3%, equity ratio 79.6%, rank 30SOTRA FISKEINDUSTRI AS: operating margin 0.4%, equity ratio 34.0%, rank 99GILDESKÅL FORSKNINGSSTASJON AS: operating margin 17.2%, equity ratio 63.0%, rank 10BRØDRENE KARLSEN AS: operating margin −8.6%, equity ratio 27.3%, rank 104HELGELAND SMOLT AS: operating margin 37.3%, equity ratio 42.3%, rank 20EMILSEN HAVBRUK AS: operating margin −7.8%, equity ratio 45.6%, rank 69FOSNAVAAG PELAGIC AS: operating margin −0.6%, equity ratio 36.7%, rank 90GRATANGLAKS AS: operating margin 10.3%, equity ratio 63.4%, rank 8OLAV E FISKERSTRAND AS: operating margin 0.0%, equity ratio 38.0%, rank 79ABYSS AS: operating margin 8.5%, equity ratio 18.0%, rank 81TUFJORDBRUKET AS: operating margin 4.9%, equity ratio 31.5%, rank 74TRIPLENINE VEDDE AS: operating margin 0.2%, equity ratio 68.8%, rank 51NORWEGIAN FISHFARMING TECHNOLOGIES AS: operating margin −8.0%, equity ratio −7.2%, rank 109KOBBEVIK OG FURUHOLMEN OPPDRETT AS: operating margin 5.7%, equity ratio 58.0%, rank 33STELLA POLARIS NORWAY AS: operating margin 0.7%, equity ratio 16.5%, rank 85NORDLAKS PRODUKTER AS: operating margin 15.2%, equity ratio 71.3%, rank 36LERØY SEAFOOD INDUSTRI AS: operating margin 11.9%, equity ratio 45.1%, rank 26FIRDA SJØFARMER AS: operating margin 3.5%, equity ratio 48.2%, rank 61ERVIK SEAFOOD AS: operating margin 3.2%, equity ratio 21.7%, rank 65STELLA POLARIS AS: operating margin 13.5%, equity ratio 31.5%, rank 31NORDLAKS SMOLT AS: operating margin 48.8%, equity ratio 56.6%, rank 16ØYFISK AS: operating margin 19.4%, equity ratio 47.7%, rank 4POLARFEED AS: operating margin 4.3%, equity ratio 17.4%, rank 86TYTLANDSVIK AQUA AS: operating margin 15.5%, equity ratio 28.7%, rank 47LERØY FOSSEN AS: operating margin −0.6%, equity ratio 42.2%, rank 76
Show the map's figures as a table
CompanyOperating marginEquity ratioRevenue
AQUAGEN AS29.7%79.3%962 MNOK
MOWI MARKETS NORWAY AS5.3%74.4%26,449 MNOK
NORDSJØ FJORDBRUK AS12.8%47.1%1,823 MNOK
ØYFISK AS19.4%47.7%539 MNOK
ELLINGSEN SEAFOOD AS24.4%69.8%1,013 MNOK
PRESTFJORD AS24.4%45.7%954 MNOK
NOVA SEA HAVBRUK AS16.6%63.2%3,701 MNOK
GRATANGLAKS AS10.3%63.4%679 MNOK
KVERVA INDUSTRIER AS93.9%68.1%1,705 MNOK
GILDESKÅL FORSKNINGSSTASJON AS17.2%63.0%711 MNOK
SUFI AS8.9%40.9%763 MNOK
TROLAND LAKSEOPPDRETT AS4.8%56.8%722 MNOK
AS MØRE CODFISH COMP3.0%81.0%866 MNOK
LOFOTEN SJØPRODUKTER AS19.3%44.9%781 MNOK
LOVUNDLAKS SJØ AS21.2%55.7%1,667 MNOK
NORDLAKS SMOLT AS48.8%56.6%540 MNOK
Kleiva Fiskefarm AS13.7%38.9%841 MNOK
LERØY AURORA SJØ AS3.2%76.2%3,367 MNOK
CERMAQ NORWAY SALMON AS5.1%72.7%8,223 MNOK
HELGELAND SMOLT AS37.3%42.3%685 MNOK
LOFOTEN VIKING AS4.5%86.4%876 MNOK
NORSK SJØMAT STRANDA AS7.3%37.8%1,828 MNOK
FINNMARK HAVFISKE AS26.3%42.2%739 MNOK
HAUGLAND GRUPPEN AS−419.0%54.6%5,020 MNOK
NORDLAKS HAVBRUK AS3.0%79.7%4,233 MNOK
LERØY SEAFOOD INDUSTRI AS11.9%45.1%583 MNOK
BLOM FISKEOPPDRETT AS14.1%34.8%850 MNOK
NERGÅRD HAVFISKE AS28.6%38.6%1,021 MNOK
NORDLAKS OPPDRETT AS7.2%42.2%2,951 MNOK
EGIL KRISTOFFERSEN & SØNNER AS−8.3%79.6%719 MNOK
STELLA POLARIS AS13.5%31.5%558 MNOK
GLOBAL FLORØ AS5.1%49.0%1,226 MNOK
KOBBEVIK OG FURUHOLMEN OPPDRETT AS5.7%58.0%611 MNOK
FJORDLAKS AS12.3%41.0%1,059 MNOK
LOFOTPRODUKT AS2.3%45.3%1,007 MNOK
NORDLAKS PRODUKTER AS15.2%71.3%587 MNOK
BRØDRENE SPERRE AS5.1%40.5%3,175 MNOK
HOLMØY HAVBRUK AS17.5%30.5%2,347 MNOK
PRIMA PROTEIN AS10.5%45.3%973 MNOK
LERØY AURORA AS11.8%43.1%3,683 MNOK
NORDLAND HAVFISKE AS22.9%34.0%1,062 MNOK
MOWI SEAWATER NORWAY AS−0.2%64.1%18,324 MNOK
SJØTROLL HAVBRUK AS5.2%61.2%2,131 MNOK
VIKENCO AS7.0%38.1%4,986 MNOK
LERØY MIDT SJØ AS−1.5%76.7%4,611 MNOK
MYRE FISKEMOTTAK AS2.1%33.0%1,483 MNOK
TYTLANDSVIK AQUA AS15.5%28.7%518 MNOK
EIDE FJORDBRUK AS9.7%25.0%1,535 MNOK
AKER BIOMARINE AS11.7%38.1%1,182 MNOK
MÅSØVAL LISENS AS−7.5%64.9%1,964 MNOK
TRIPLENINE VEDDE AS0.2%68.8%650 MNOK
SINKABERG DRIFT AS11.3%41.3%2,146 MNOK
SJØMATHUSET AS1.5%39.1%957 MNOK
SALAKS PRODUKSJON AS13.6%35.3%976 MNOK
HOFSETH AS5.4%42.1%1,606 MNOK
FLAKSTADVÅG LAKS AS16.4%23.2%791 MNOK
SINKABERG NT145 AS13.4%24.2%1,260 MNOK
JANGAARD EXPORT AS3.9%39.8%1,423 MNOK
CERMAQ NORWAY AS12.4%27.4%6,446 MNOK
LERØY VEST AS5.2%52.6%2,384 MNOK
FIRDA SJØFARMER AS3.5%48.2%570 MNOK
MÅSØVAL DRIFT AS3.8%23.8%1,943 MNOK
KARLSØYBRUKET AS4.1%29.7%1,881 MNOK
MOWI ASA12.8%40.3%22,111 MNOK
ERVIK SEAFOOD AS3.2%21.7%568 MNOK
EIDSFJORD SJØFARM AS4.8%39.5%1,476 MNOK
SALMAR SETTEFISK AS19.4%18.4%1,516 MNOK
SALMAR FARMING AS6.0%38.6%14,703 MNOK
EMILSEN HAVBRUK AS−7.8%45.6%681 MNOK
SALMAR OPPDRETT AS8.5%4.1%18,994 MNOK
LERØY MIDT AS8.0%39.0%5,428 MNOK
THE QRILL COMPANY AS10.4%19.3%2,006 MNOK
ODE AS5.5%30.5%884 MNOK
TUFJORDBRUKET AS4.9%31.5%673 MNOK
NILS SPERRE AS2.3%33.9%1,655 MNOK
LERØY FOSSEN AS−0.6%42.2%516 MNOK
AS BOLAKS−0.6%40.6%992 MNOK
LERØY NORWAY SEAFOODS AS−19.0%50.1%1,364 MNOK
OLAV E FISKERSTRAND AS0.0%38.0%676 MNOK
SEASHORE INDUSTRI AS−6.1%52.2%832 MNOK
ABYSS AS8.5%18.0%675 MNOK
Kvarøy Fiskeoppdrett A/S5.4%16.6%992 MNOK
PELAGIA AS−0.1%46.0%9,577 MNOK
LERØY VEST SJØ AS−4.9%36.6%2,609 MNOK
STELLA POLARIS NORWAY AS0.7%16.5%590 MNOK
POLARFEED AS4.3%17.4%523 MNOK
FIRST SEAFOOD AS0.2%15.4%1,843 MNOK
SINKABERG HAVBRUK AS−2.1%25.9%1,633 MNOK
SEAFOOD FARMERS OF NORWAY AS0.8%25.9%1,135 MNOK
FOSNAVAAG PELAGIC AS−0.6%36.7%681 MNOK
HOFSETH AQUA AS9.5%17.6%1,065 MNOK
ERKO SEAFOOD AS−21.7%39.9%821 MNOK
BJØRØYA DRIFT AS0.9%28.3%885 MNOK
TOMBRE FISKEANLEGG AS−8.6%41.9%854 MNOK
HOFSETH AALESUND AS1.2%37.4%1,739 MNOK
SJØTROLL HAVBRUK SJØ AS−7.1%31.9%1,916 MNOK
VIKOMAR AS1.6%31.2%872 MNOK
SALMAR AS1.2%16.7%24,025 MNOK
SOTRA FISKEINDUSTRI AS0.4%34.0%717 MNOK
HOFSETH SEA FARMING AS−4.5%15.3%1,016 MNOK
BOLAKS FJORDBRUK AS−5.8%35.3%882 MNOK
BJØRØYA AS0.5%24.0%1,050 MNOK
DOMSTEIN SJØMAT AS−0.4%17.4%1,029 MNOK
BRØDRENE KARLSEN AS−8.6%27.3%705 MNOK
LINGALAKS AS−7.5%21.2%977 MNOK
GRIEG SEAFOOD ROGALAND AS2.3%3.3%2,245 MNOK
FIRDA HAVBRUK AS−0.8%18.2%1,513 MNOK
SEASHORE SJØ AS0.9%13.2%2,229 MNOK
NORWEGIAN FISHFARMING TECHNOLOGIES AS−8.0%−7.2%628 MNOK
ISFJORD NORWAY AS−2.5%13.7%1,098 MNOK
GRIEG SEAFOOD FARMING AS−1.7%7.3%1,389 MNOK

Scenario analysis: the sector's weakest year

The sector's weakest year was 2022, with a median operating margin of −0.5%.

Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported.

Fiscal yearMedian operating marginMedian equity ratio
2017––
2018––
2019––
2020––
2021––
2022 · weakest year−0.5%21.6%
202312.3%33.8%
20248.7%33.3%
202512.4%34.0%
202613.8%67.6%

In 2022, 5 ranked companies did better than the sector, 4 about the same and 9 weaker.

Held up best in 2022

  1. 1ØYTIND ASequity ratio 92.5%53.2%
  2. 2BR. OLAFSEN KYSTFISKE ASequity ratio 35.9%44.9%
  3. 3L. FISKHOLMEN ASequity ratio 54.2%20.2%
  4. 4NORDKYN EIENDOM ASequity ratio 14.7%11.1%
  5. 5SKJÅNESBRUKET ASequity ratio 8.4%1.1%

Better than the sector: operating margin at or above the sector median and no loss or negative equity. Weaker: operating margin below the median and a loss or negative equity. Otherwise about the same as the sector. Methodology

Drivers in the sector

Interest rates, prices and exchange rates that shape the sector's year, next to the sector's median operating margin. The drivers are context and are not part of the index.

Export price of fresh salmon (kr per kg)

Latest value: 76.0 (2026U43)

Export price of fresh salmon fell 13.4% in 2025; the sector's median operating margin rose 3.7 percentage points.

Export price of fresh salmon per year and the sector's median operating margin
Measure202120222023202420252026
Export price of fresh salmon, annual average59.280.895.294.481.878.8 (so far)
Change from the year before+3.0%+36.3%+17.9%−0.8%−13.4%−3.6%
Sector's median operating margin–−0.5%12.3%8.7%12.4%13.8%

Source: SSB (03024, CC BY 4.0). Source · fetched 30 October 2026

EUR/NOK (kr)

Latest value: 10.80 (2026-09)

EUR/NOK rose 0.8% in 2025; the sector's median operating margin rose 3.7 percentage points.

EUR/NOK per year and the sector's median operating margin
Measure202120222023202420252026
EUR/NOK, annual average10.1610.1011.4211.6211.7211.09 (so far)
Change from the year before−5.2%−0.6%+13.1%+1.8%+0.8%−5.4%
Sector's median operating margin–−0.5%12.3%8.7%12.4%13.8%

Source: Norges Bank (EXR, NLOD 2.0). Source · fetched 30 October 2026

When export price of fresh salmon fell in 2025, 1,280 of 2,142 ranked companies kept their operating margin at or above the year before. Among the largest: VIKENCO AS (6.3% → 7.0%), BRØDRENE SPERRE AS (4.6% → 5.1%), NORDLAKS OPPDRETT AS (6.7% → 7.2%), LERØY VEST SJØ AS (−6.3% → −4.9%), SINKABERG DRIFT AS (10.0% → 11.3%).

We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.

The sector in Norway (SSB)

The whole industry as Statistics Norway counts it: every enterprise, not only the limited companies we rank. Use these figures as background for the ranking above.

Enterprises, employment and turnover · 2024

Enterprises
416
−1.2% from 2023
Persons employed · 2023
12,035
Turnover · 2023
NOK 108.6 bn
Gross operating margin · 2023
5.7%
Gross operating surplus divided by turnover

All enterprises, sole proprietorships included. SSB withholds some figures for confidentiality. The figure then shows the latest year with every value, and the year is given beside it. The table has no figures for 03.

Bankruptcies in the industry

27 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −28.9% against the four quarters before (38).

112024K482025K182025K2112025K392025K482026K162026K242026K3

Foreign-controlled enterprises · 2024

Share of enterprises
2.7%
Share of persons employed
10.6%
Share of turnover
20.6%

SSB publishes this for groups of industries only. The figures are for the group “Nærings-, drikkevare- og tobakksindustri”.

Export price · Fersk oppalen laks

76.0 NOK per kg · 2026U43
−2.8% against 2025U43.

Weekly, 2024U43 to 2026U43.

Source: Statistics Norway (SSB), table 12910, table 10790, table 08085, table 03024. CC BY 4.0. Our industry codes (SN2025) are linked to SSB’s (SN2007) with SSB’s correspondence table in Klass.

Latest bankruptcies and liquidations

All bankruptcies and liquidations in the sector

Industry codes (NACE)

CodeDescription
03*Hele hovedgruppe 03
03.110Fiske og fangst i sjø
03.120Fiske og fangst i ferskvann
03.211Produksjon av fisk, bløtdyr, krepsdyr og pigghuder i sjø og brakkvann
03.212Produksjon av yngel og settefisk i sjø og brakkvann
03.221Produksjon av fisk, bløtdyr, krepsdyr og andre dyr som lever i ferskvann
03.222Produksjon av yngel og settefisk i ferskvann
03.300Tjenester tilknyttet fiske, fangst og akvakultur
10.201Produksjon av saltfisk, tørrfisk og klippfisk
10.202Slakting av fisk, skalldyr og bløtdyr
10.203Frysing og videre bearbeiding av fisk, skalldyr og bløtdyr