Icelandic salmon farmer Arctic Fish reported a sharp drop in revenue and earnings before interest, taxes, depreciation and amortization (EBITDA) during the second quarter because of a substantial plunge in harvest volumes.
The low harvest was expected because the company moved all harvesting operations to its new harvesting facility in Bolungarvik in northwest Iceland.
The new harvesting facility was tested at the end of the quarter with full operations beginning in July. Testing and operations have gone according to plans, the company said.
