Mowi's Exceptional Performance in the Seafood Market
Mowi has recently revealed outstanding financial results, showcasing revenues of €1.39 billion and an operational profit of €112 million in the latest quarter. These figures reflect a remarkable achievement despite the low salmon prices and increased supply growth in the market.
Record High Salmon Volumes
During a challenging quarter defined by fluctuating salmon prices, Mowi managed to achieve unprecedented production levels. The company slaughtered a record-breaking 166,000 tons of salmon, prompting an increase in its guidance for 2025, adjusting the expected production from 545,000 tons to 554,000 tons. This revision signals a growth of 10.5% compared to the previous year, driven largely by the consolidation of Nova Sea.
Future Growth Expectations
In the upcoming year, Mowi anticipates a continued upward trend, projecting to harvest about 605,000 tons of salmon in 2026, which represents a 9.2% increase from the current year. Of this volume, an impressive 380,000 tons are expected to be reared in Norway alone. Mowi's rapid transformation from a 400,000-ton producer to a 600,000-ton leader illustrates its commitment to growth and operational excellence in the aquaculture sector.
Cost Management and Operational Efficiency
The company has put a significant emphasis on cost reduction, achieving a decrease of €50 million in production costs in the latest quarter compared to the same time last year. Year-to-date, the reduction amounts to €126 million. This focus on cost-efficiency, combined with a decrease in feed prices, positions Mowi favorably for managing production costs in the upcoming year.
Highlighting Consumer Products Growth
Mowi Consumer Products, the group's processing division, recorded its best quarter ever. This performance is attributed to high operational efficiency, record volumes, and decreasing raw material prices. Mowi's integration as a fully integrated seafood company allows them to capitalize on market opportunities, particularly in times of declining salmon prices.
Optimistic Market Outlook
The year has seen an unusual supply growth trend, a phenomenon stemming from several years of biological challenges within the industry. However, as supply conditions normalize, Mowi expects growth to stabilize around 1% for the next year. Coupled with favorable market indicators, this suggests an improved market balance moving forward.
Shareholder Returns
Mowi's Board of Directors has announced a dividend of 1.50 NOK per share for the third quarter, reiterating the company's commitment to returning value to shareholders while investing in future growth.
Contact Information
For further inquiries, please contact:
Kristian Ellingsen, CFO, +47 905 14 275
Kim Galtung Døsvig, IR Officer & Head of Treasury, +47 908 76 339
Ola Helge Hjetland, Communications Director, +47 970 67 932
About Mowi ASA
Mowi ranks as one of the world's leading seafood companies and the largest producer of Atlantic salmon, with an estimated harvest volume of 605,000 tons of slaughter weight anticipated in 2026. The company's integrated model spans seven farming countries, including Norway, Scotland, Ireland, the Faroe Islands, Iceland, Canada, and Chile. Mowi prides itself as a global, fully integrated seafood company that offers salmon and other seafood products worldwide, including its own brand – MOWI. The company has been recognized as the world's most sustainable producer of animal protein by Coller FAIRR.
Headquartered in Bergen, Mowi employs 12,300 people across 26 countries and is publicly traded in Oslo. The company reported revenues of €5.62 billion in the previous year.
Frequently Asked Questions
What financial results did Mowi announce for this quarter?
Mowi reported revenues of €1.39 billion and an operational profit of €112 million for the latest quarter.
How much salmon did Mowi harvest in the third quarter?
Mowi achieved a record harvest of 166,000 tons of salmon in the third quarter.
What are Mowi's future production expectations?
The company projects a harvest of approximately 605,000 tons of salmon in 2026.
What dividend has Mowi announced for shareholders?
Mowi's Board of Directors has decided on a dividend of 1.50 NOK per share for the third quarter.
Where is Mowi headquartered?
Mowi's headquarters is located in Bergen, Norway and employs over 12,000 staff globally.
