Mowi ASA Achieves Record Harvest Volumes in Q3 2024
Harvest Performance Overview for Mowi ASA
Mowi ASA has successfully reported outstanding harvest volumes for the third quarter of 2024, achieving an all-time high of 161,000 gutted weight tonnes (GWT). This remarkable figure reveals a significant increase in production, surpassing previous estimates and setting a new benchmark for the company.
Regional Harvest Breakdown
In analyzing the harvest volumes, we see impressive figures from various farming regions:
Farming Norway
Norway, as the leading region, contributed a substantial 106,000 tonnes to Mowi's total harvest.
Farming Scotland
Scotland added 15,000 tonnes, marking a vital contribution to the overall figures.
Farming Chile and Others
Chile produced 23,000 tonnes, while Canada and Ireland accounted for 7,000 tonnes and 3,500 tonnes respectively. The Faroe Islands and Iceland provided smaller but valuable contributions of 3,000 tonnes and 3,500 tonnes respectively.
Operational EBIT and Costs
The operational earnings before interest and taxes (EBIT) for Mowi ASA in Q3 2024 reached approximately EUR 173 million. This financial stability reflects the company's robust operational framework.
Cost Management Strategies
The blended farming cost for the quarter was reported at EUR 5.72 per kilogram. This marked an improvement of EUR 0.12 from the previous quarter, demonstrating Mowi's commitment to effective cost management.
Per Kilogram Financial Performance
An examination of the operational EBIT per kilogram through Mowi's value chain provides further insight into the company's economic efficiency:
Norwegian Operations
In Norway, the EBIT per kilogram stood at EUR 1.40, showcasing a solid performance.
Performance in Other Regions
Scottish operations reported EUR 0.85, while Chile reported EUR 0.60. However, Canada experienced a loss of EUR 0.55, despite East Canada achieving EUR 0.64.
Successful Contributors
In contrast, Ireland's profitability was marked at EUR 1.20, with the Faroes at EUR 0.60 and Iceland away from slight losses with EUR 0.40.
Financial Health and Future Outlook
Mowi ASA has positioned itself well financially, with a reported net interest-bearing debt of around EUR 1.77 billion at the quarter's close. This figure excludes IFRS 16 effects and reaffirms the company's strong balance sheet.
Looking Forward
Investors and stakeholders can expect a comprehensive Q3 2024 report scheduled for publication on November 6 at 06:30 CET. This report will provide even more insights into Mowi's operational strategies and financial results.
Frequently Asked Questions
What were Mowi ASA's harvest volumes in Q3 2024?
Mowi ASA achieved a record high of 161,000 tonnes of harvest volumes in Q3 2024.
How did the operational EBIT perform in Q3 2024?
The operational EBIT for Mowi ASA in Q3 2024 was approximately EUR 173 million, indicating strong profitability.
What was the blending cost per kilogram for Mowi ASA?
The blended farming cost was reported at EUR 5.72 per kilogram in Q3 2024, an improvement from the previous quarter.
How does the EBIT per kilogram vary across regions?
EBIT per kilogram varied, with Norway at EUR 1.40, Scotland at EUR 0.85, and other regions showing different performances, highlighting regional variances in profitability.
When will Mowi ASA release its complete report for Q3 2024?
The complete Q3 2024 report will be released on November 6 at 06:30 CET, providing detailed insights into the company's performance.
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