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Nordic Halibut
Nordic Halibut (NOHAL) investor relations material
Nordic Halibut Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary5 Mar, 2026
Executive summary
Q4 2025 saw a 17% year-over-year increase in harvest volume to 200 tonnes HOG and an 18.3% growth in biomass from the previous quarter.
Revenue for Q4 2025 rose to MNOK 45.4, up from MNOK 31.6 in Q4 2024, driven by higher sales volumes and stable pricing.
EBITDA turned positive at MNOK 48 in Q4 2025, compared to negative MNOK 6 in Q4 2024, reflecting operational improvements and fair value gains.
Construction of the Torjulvågen facility remains on schedule, supporting future production growth and flexibility.
Financial highlights
Q4 2025 revenue: MNOK 45.4 (Q4 2024: MNOK 31.6); full-year 2025 revenue: MNOK 145.4 (2024: MNOK 90.5).
Q4 2025 EBITDA: MNOK 48.5 (Q4 2024: -MNOK 6.3); full-year 2025 EBITDA: MNOK 60.0 (2024: -MNOK 37.3).
Q4 2025 profit before tax: MNOK 28.7; full-year 2025 loss before tax: MNOK 10.0.
Fair value adjustment of biological assets in Q4 2025: MNOK 87, driven by biomass growth and improved feed efficiency.
Equity at year-end: MNOK 678; equity ratio: 55%.
Outlook and guidance
Growth strategy targets larger-sized halibut to capture premium pricing, with run-rate production volumes expected by Q3 2026.
2026 harvest volume estimated at 1,500 tonnes HOG; run-rate production of 4,500 tonnes HOG targeted for 2027.
Market demand and pricing expected to remain strong into Q1 2026, with a seasonal dip anticipated in summer.
New Torjulvågen facility to double stocking capacity by 2027, supporting long-term growth.
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Latest events from Nordic Halibut
- Revenue up 38% and EBITDA positive as growth strategy and premium positioning drive results.NOHAL
Q3 202520 Nov 2025 - Revenue surged 68% YoY as harvests doubled, but losses widened amid growth investments.NOHALQ2 202527 Aug 2025
- Biomass and prices rose, but losses deepened as Nordic Halibut invests for future growth.NOHALQ3 202413 Jun 2025
- Revenue down, losses widened, but long-term growth targets and expansion plans remain on track.NOHALQ2 202413 Jun 2025
- Record Q1 results, robust growth, and strategic investments drive future expansion.NOHALQ1 20256 Jun 2025
- Revenue up 24% YoY, premium pricing, and strong liquidity underpin growth strategy.NOHALQ4 20245 Jun 2025
Next Nordic Halibut earnings date
Q1 202628 May, 2026
Nordic Halibut
Next Nordic Halibut earnings date
Q1 202628 May, 2026
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