Hofseth BioCare Q3 Revenue Hits Record High of NOK 83.5 Million, Operations Still Post NOK 5.7 Million Loss

Norwegian aquaculture news site iLaks reported on November 6, 2026 that Hofseth BioCare (HBC), which produces oils and dietary supplements from salmon cutting by-products, achieved total operating revenue of NOK 83.5 million in the third quarter, up from NOK 54.9 million in the same period last year, setting a record high for sales. However, the company has still not achieved profitability from production, with an operating result of negative NOK 5.7 million for the quarter.

Pet feed ingredients were the most important revenue source in the third quarter, recording NOK 35.2 million, up 39.5% year on year. Human nutrition revenue grew 54% to NOK 32.2 million.

Cash and cash equivalents decreased by NOK 80.6 million during the third quarter, standing at NOK 33.6 million as of September 30; including available credit facilities, total liquidity at the end of the quarter was NOK 42.5 million.

On the production side, the plant in Midsund processed 3,349 tonnes of raw material in the quarter, the second consecutive quarter of increased raw material intake, with no hours of unplanned downtime. The company signed a new raw material supplier at the end of the third quarter and has set a target of 21,000 tonnes of raw material by 2027.