Low harvest volumes and high farming costs forced down earnings for salmon farmer Bakkafrost in the second quarter, with both its Faroes and Scottish sites suffering lower-than-planned volumes.

The results follow a profit warning issued by the company in July, suggesting there could be "extraordinarily" low harvest volumes and "exceptional" mortality costs.

Operating earnings before interest, tax, depreciation and amortization (EBITDA) fell 29.8 percent year-on-year to DKK 508 million (€68.2 million/$74.4 million) due to a "back-end loaded harvest profile" for 2023 and low mean weights in the Faroes, plus mortality issues in Scotland.