Mowi Reports Stellar Q1 2025 Results with Record Harvest Volumes
Significant Growth in Q1 2025 for Mowi
Mowi generated operating revenues of EUR 1.36 billion in the first quarter, resulting in an operational profit of EUR 214 million.
The latest quarter has marked a remarkable upward trend for Mowi, showcasing robust biological performance alongside enhanced operational metrics. This success is attributed to improved volumes and cost efficiencies.
CEO Ivan Vindheim expressed confidence in the company’s trajectory, stating, "2025 has been operationally robust, boosting high harvest volumes and record biomass in our marine environments." Such growth demonstrates Mowi's commitment to effectiveness and sustainability.
Mowi prioritizes volume growth throughout its supply chain. This quarter, they harvested 108,000 tonnes—an increase of 12% from the previous year. Mowi maintains its harvest volume target for 2025 at 530,000 tonnes, indicating anticipated annual growth of 6%. This expectation is supported by substantial biomass growth of 11% compared to last year. Following a recent strategic decision to elevate ownership of Nova Sea from 49% to 95%, Mowi aims to harvest 600,000 tonnes next year.
In terms of seawater production, results were stellar in the first quarter. Improvements in growth rates, survival, feed conversion ratio, and overall health of the fish were observed.
Since 2018, Mowi has significantly increased its harvest from 375,000 tonnes to projections of 530,000 tonnes by the end of 2025. This represents a compound annual growth rate (CAGR) of 5.1%, overshadowing the industry average CAGR of 3.3%. Mowi continues to implement organic growth initiatives that promise to further boost overall production capacity.
Additionally, Mowi Consumer Products, which focuses on value-added seafood, enjoyed a successful quarter due to operational excellence and elevated sales volume.
“The demand for salmon was robust throughout the quarter, with better downstream earnings reported across Europe, the Americas, and Asia,” Vindheim added. However, the increase in supply exerted pressure on market prices, signaling a need for ongoing market adjustments.
During the first quarter, global supply surged by 13% in Europe and 8% across all markets—a trend likely linked to past biological challenges. Mowi predicts that supply growth will stabilize at 6% in 2025 before dropping to 2-3% as regulatory measures come into play.
Mowi Feed also reported impressive results, achieving record earnings and volumes sold for a first quarter. The performance of Mowi's feed is critical to the fishing operation, further enhancing their increasing harvest volumes.
Reflecting its financial health, Mowi's Board has declared a quarterly dividend of NOK 1.70 per share.
Contact Information
For further inquiries, please reach out to:
Kristian Ellingsen, CFO, +47 905 14 275
Kim Galtung Døsvig, IR Officer & Head of Treasury, +47 908 76 339
Ola Helge Hjetland, Group Communications Director, +47 970 67 932
About Mowi ASA
Mowi stands as a global leader in the seafood sector and is the premier producer of farm-raised Atlantic salmon worldwide, with a projected 2025 yield of 530,000 tonnes from multiple countries including Norway, Scotland, Ireland, and Canada.
Mowi operates as a fully integrated seafood company, delivering high-quality salmon and other seafoods to consumers globally, partly under its distinguished MOWI brand. Notably, Mowi has been rated the most sustainable publicly listed animal protein producer worldwide.
Headquartered in Bergen, Norway, Mowi employs approximately 11,800 individuals across 26 countries, being listed on the Oslo Stock Exchange with a turnover of EUR 5.6 billion recorded in 2024.
For additional insights, visit the Mowi website.
Frequently Asked Questions
What were Mowi's operating revenues in Q1 2025?
Mowi generated operating revenues of EUR 1.36 billion in the first quarter of 2025.
How much fish did Mowi harvest in Q1 2025?
The company harvested 108,000 tonnes in Q1 2025, marking a 12% increase compared to the previous year.
What is Mowi's projected harvest volume for 2025?
Mowi maintains a harvest volume target of 530,000 tonnes for 2025, with expectations of reaching 600,000 tonnes following strategic acquisitions.
What significant dividends was declared by Mowi?
The Board of Mowi declared a quarterly dividend of NOK 1.70 per share.
How does Mowi compare to industry peers regarding growth?
Mowi's CAGR is projected at 5.1%, surpassing the industry expectation of 3.3%, indicating a solid growth strategy.
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