Salmar-owned Icelandic Salmon – formerly known as Arnarlax – jumped back into the black in the fourth quarter of 2021, with improvements seen across the business.
Operational earnings before interest and taxes (EBIT) in the quarter were €3.7 million ($4.2 million) -- corresponding to €0.89 ($1) per kilogram -- a significant improvement from the same period in 2020, when the company posted a loss of €2 million ($2.3 million).
The group also more than doubled its revenue in the fourth quarter of 2021 due to a combination of higher salmon prices, greater harvest volumes and better use of maximum allowable biomass (MAB).
