Faroese salmon farmer Bakkafrost saw its profit rise slightly in the fourth quarter of 2023 despite a significant fall in harvest volume across both its production regions.
The company reported a 6 percent increase in earnings before interest, tax, depreciation and amortization (EBITDA) to DKK 536 million (€71.9 million/$77.4 million) thanks to improved operating margins.
This came despite a 19 percent fall in operating revenue to DKK 1.6 billion (€209.5 million/$225.7 million).
While spot prices rose 12 percent year-on-year, Bakkafrost reduced harvests in the quarter.
