Mowi's Impressive Operational Performance in Q1 2025
Outstanding Operational Results from Mowi
Mowi has reported remarkable financial outcomes for the first quarter of the year, showcasing a revenue of 1.36 billion euros (15.8 billion Norwegian kroner) alongside an operational EBIT of 214 million euros (2.5 billion Norwegian kroner). This performance marks a significant increase compared to the previous year’s results, driven particularly by strong operational practices and enhanced biological performance.
Impressive Volume Growth and Future Outlook
According to the CEO of Mowi, Ivan Vindheim, the year has been exceptionally productive so far. The company has seen high harvesting volumes and currently has a greater number of fish in the sea than at this point in the previous year. Mowi completed the harvesting of 108,000 tons in this quarter, translating to a 12% growth compared to the same period last year. The company is maintaining its guidance of 530,000 tons for 2025, reflecting an annual growth rate of 6%. This forecast is supported by a record number of fish in the sea, which has risen 11% since last year. Furthermore, with a recently acquired increased ownership stake in Nova Sea from 49% to 95%, Mowi is now poised to harvest 600,000 tons next year.
Operational Success Factors
Vindheim highlighted that production at sea performed exceptionally well during the first quarter. Mowi observed notable improvements in growth rates, survival, feed conversion ratios, and overall quality. This operational excellence has contributed to substantial growth, with the company producing 375,000 tons in 2018. Mowi anticipates an increase of 155,000 tons by year-end, resulting in an annual growth rate of 5.1%, significantly surpassing the industry average of 3.3%. Such growth primarily stems from organic initiatives, and the company continues to explore additional avenues for volume enhancement.
Strong Demand and Market Conditions
Mowi Consumer Products, the company’s processing division, experienced a robust quarter with solid operations and elevated volumes. Demand for salmon has been strong across Europe, the Americas, and Asia, alongside improved downstream earnings. However, price pressures have arisen due to a significant increase in supply. In the first quarter, the global supply growth was reported at 13% in Europe and 8% worldwide, which is essentially a corrective measure following three years of biological challenges. Mowi forecasts a supply growth of 6% for this year, reverting to a normalized trend growth of 2-3% next year due to regulatory constraints.
Achievements in Feed Production
Mowi Feed also posted another exceptional quarter with record volumes and revenues for the first quarter. The company's proprietary feed has consistently performed well, playing a crucial role in the increased harvest volumes seen in recent years.
Shareholder Returns
Mowi's board has declared a dividend of 1.70 Norwegian kroner per share for the first quarter, reflecting the company's strong operational results and commitment to return value to its shareholders.
About Mowi ASA
Mowi ranks as one of the world's leading seafood companies and is recognized as the largest producer of Atlantic salmon globally, with an estimated harvesting volume of 530,000 tons slated for 2025, sourced from seven farming nations including Norway and Scotland. As a fully integrated seafood company, Mowi delivers high-quality salmon and seafood products globally, partially under its own brand – MOWI. Furthermore, it has been identified as the world's leading sustainable producer of animal protein by Coller FAIRR.
Company Overview
Headquartered in Bergen, Mowi employs 11,800 individuals across 26 countries and is publicly traded in Oslo. In 2024, the company reported revenues of 5.62 billion euros (65.3 billion Norwegian kroner).
Frequently Asked Questions
What were Mowi's revenue figures for Q1 2025?
The revenue reported by Mowi for Q1 2025 was 1.36 billion euros (15.8 billion Norwegian kroner).
How much salmon did Mowi harvest in Q1 2025?
Mowi harvested 108,000 tons of salmon in Q1 2025, reflecting a 12% increase from the previous year.
What is Mowi's expected harvesting volume for 2025?
Mowi maintains a harvesting guidance of 530,000 tons for 2025, with expectations to increase this to 600,000 tons next year.
What dividend has Mowi declared for Q1 2025?
Mowi's board declared a dividend of 1.70 Norwegian kroner per share for the first quarter of 2025.
What markets does Mowi serve?
Mowi supplies seafood products globally, with strong demand noted in Europe, America, and Asia.
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