Bakkafrost Delivers Strong Financial Results and Reinforces Commitment to Sustainability

11.04.2025

Bakkafrost has published its 2024 Annual Report, highlighting strong financial results and excellent biological performance. Despite a challenging year marked by an extensive strike in the Faroe Islands and ongoing market uncertainty, management considers the results satisfactory.

The report also details Bakkafrost’s progress on sustainability, and for the first time, the company reports fully in alignment with the new EU Sustainability Reporting Standards (ESRS). This provides investors, customers, and the public with deeper insights into the environmental, social, and governance impacts of Bakkafrost’s operations.

Bakkafrost has committed to reducing CO2 emissions from its operations. With the 2024 figures now finalised, we must acknowledge that we face a significant challenge if we are to reach our 2030 climate targets.

Regin Jacobsen, CEO of Bakkafrost, comments:
"We are pleased with our financial performance and the very positive biological developments. Despite market uncertainty, the demand for premium-quality salmon remains strong.
We are also proud to publish, for the first time, a report aligned with the new EU legislation regarding sustainability reporting, which enhances transparency and enables better comparisons across companies.
At the same time, the figures make it clear that major challenges lie ahead. The green transition is essential — it is demanded by both the markets that purchase our products and by the financial sector. Collaboration is crucial to implementing effective initiatives that will advance our sustainability journey, and we are ready to do our part."

The full Annual Report for 2024 is available on Bakkafrost’s website and can be accessed here.