Salmon farmer SalMar posted strong results in its second quarter but lost out on the earnings jackpot of its fellow producers thanks to a heavier reliance on contract sales.

The company, who has operations in Norway, Scotland and Iceland, saw earnings before interest, tax, depreciation and amortization (EBITDA) hike 29 percent to NOK 1.1 billion (€114 million/$114 million), a strong increase, but pale in comparison to fellow producers Grieg Seafood, Mowi and Leroy Seafood.

Wednesday Mowi reported a more than doubling in earnings before interest, tax, depreciation and amortization (EBITDA) to €363.1