Faroese salmon farmer Bakkafrost saw its operational earnings before interest and taxes (EBIT) increase nearly six times between 2010 and 2017 from DKK 247 million (€33.1 million/$38.7 million) to DKK 1.4 billion (€187.7 million/$219.3 million).
Over the same period its revenue multiplied by five from DKK 820 million (€109.9 million/$128.4 million) in 2010 to DKK 3.8 billion (€509.4 million/$595.2 million) in 2017.
The company benefits from a brand premium that is placed on salmon that comes from the Faroe Islands, meaning it can charge around €1 per kilo more than its Norwegian counterparts.
