Norway Royal Salmon's (NRS) reliance on fixed price contracts resulted in the company missing out on the record high salmon spot market prices during the second quarter. Consequently, its earnings suffered.

The salmon farming giant reported operational earnings before interest and taxes (EBIT) before depreciation of offshore equipment of NOK 32 million (€3.2 million/$3.2 million) in the quarter, 66 percent lower than the corresponding period last year.