Impressive Financial Results from Mowi
Mowi has achieved remarkable financial results with revenues reaching EUR 1.39 billion and an operational EBIT of EUR 112 million. The third quarter of the year has proven to be a defining period for the company, displaying strength even in a market marked by low salmon prices driven by high supply growth.
Record-High Volumes of Salmon Harvested
During this quarter, Mowi harvested an astounding 166,000 tonnes of salmon, leading the company to adjust its volume guidance for 2025 upward from 545,000 tonnes to 554,000 tonnes. This adjustment is primarily due to the consolidation of Nova Sea in the upcoming quarter, reflecting a promising growth of 10.5% compared to 2024.
Looking ahead, Mowi anticipates harvesting 605,000 tonnes by 2026, marking a significant 9.2% increase from the current year. Notably, 380,000 tonnes of this harvest will come from Norway, emphasizing the strategic importance of this region in Mowi’s operations.
Cost Reduction Strategies and Operational Efficiency
Mowi has made impressive strides in reducing farming costs. The company managed to decrease its expenses by EUR 50 million in this quarter compared to the same period in the previous year, bringing the total reduction for the year to EUR 126 million. Such cost-saving measures, combined with lower feed prices, have a positive impact on standing biomass costs and project an encouraging outlook for next year’s production costs.
The success of Mowi Consumer Products has also been noteworthy. This segment recorded its best quarter to date with excellent operations and record-high volumes, aided by lower raw material costs. Ivan Vindheim, Mowi's CEO, attributes this success to the company’s integrated seafood business model, which allows Mowi to purchase raw materials at lower prices and capitalize on market opportunities during periods of declining salmon prices.
Market Conditions and Future Outlook
The seafood industry has seen abnormally high supply growth in recent years; however, this trend is expected to normalize to about 1% growth next year. With a stronger market balance on the horizon, Mowi is poised to navigate the upcoming market conditions effectively.
Encouragingly, the board of Mowi has decided to distribute a quarterly dividend of NOK 1.50 per share, showcasing the company’s commitment to returning value to its shareholders.
About Mowi ASA
Mowi is a leading global seafood producer, renowned for being the largest producer of farm-raised Atlantic salmon. Set to harvest an estimated 605,000 tonnes in 2026 across seven countries including Norway, Scotland, and Canada, Mowi stands tall as a fully integrated seafood company, delivering high-quality seafood to consumers globally under its MOWI brand. Recognized as the most sustainable listed animal protein producer globally, Mowi continues to lead in environmental responsibility.
With its headquarters in Bergen, Norway, Mowi employs a dedicated workforce of approximately 12,300 across 26 countries and reported a turnover of EUR 5.6 billion in the previous year.
Frequently Asked Questions
What were Mowi's financial results for the third quarter?
Mowi reported revenues of EUR 1.39 billion and an operational EBIT of EUR 112 million for the third quarter.
How much salmon did Mowi harvest in Q3?
Mowi harvested a record-high 166,000 tonnes of salmon in the third quarter.
What is Mowi's harvest volume guidance for 2025?
The harvest volume guidance for 2025 has been raised from 545,000 tonnes to 554,000 tonnes.
What measures has Mowi implemented to reduce costs?
Mowi achieved a cost reduction of EUR 50 million in Q3 compared to the same quarter last year, totaling EUR 126 million for the year to date.
What does Mowi's future outlook look like?
Mowi anticipates a tighter market balance going forward with a projected harvest of 605,000 tonnes by 2026 and plans to continue providing value to shareholders through regular dividends.
