Outstanding Performance in the Second Quarter
Mowi recently reported impressive revenues of €1.39 billion and an operational profit of €189 million in the second quarter.
The second quarter marked a record high for Mowi in terms of revenue for this part of the year, driven by robust biological and operational performance, record-high volumes, and reduced costs.
"2025 has been a fantastic year with excellent operations and strong growth thus far for the aquaculture business," shared Mowi's CEO, Ivan Vindheim.
Mowi achieved unprecedented slaughter volumes, reaching 133,000 tons in the second quarter, representing an impressive 21% increase compared to last year. Consequently, Mowi has raised its volume guidance for 2025 from 530,000 tons to 545,000 tons, which corresponds to a 9% growth from 2024.
According to Vindheim, "It is gratifying to see that we are executing our growth strategy well. With a recent agreement to increase our ownership in Nova Sea from 49% to 95%, we anticipate harvesting at least 600,000 tons next year, translating into a 10% annual growth rate in 2026. In Norway, we're approaching our next milestone of 400,000 tons."
Over the past few years, Mowi has significantly expanded its production capacity from 400,000 tons globally to an expected 600,000 tons next year. This represents an annual growth rate of 6.1%, surpassing the industry average of 3.3%. This growth has primarily been organic, and Mowi has several ongoing initiatives aimed at driving further volume increases. Concurrently, the number of full-time employees has decreased, while productivity has seen a 36% increase.
Vindheim highlighted, "It is highly encouraging to witness our production costs declining to their lowest levels since 2022 in this quarter, yielding an improvement in earnings of €49 million. For the first half-year, the positive impact totals €67 million. These improvements are a result of lower feed prices and various long-term initiatives undertaken by the organization. I wish to express my gratitude to all my colleagues at Mowi for their invaluable efforts every single day to advance the company further."
Mowi Consumer Products, the group’s value-added processing division, also achieved record results driven by strong operations, high volumes, and falling raw material prices.
Vindheim noted, "The results in Consumer Products have significantly improved over the past years, stemming from not only better operational performance but also Mowi capturing a larger share of value creation as a vertically integrated company. Additionally, during periods of falling salmon prices, like in the second quarter, lower prices in our aquaculture business lead to reduced costs for the processing division, enhancing profitability."
Mowi Feed, the company's feed production unit, also delivered a robust performance with record volumes and earnings during this time of year.
During the second quarter, Mowi continued to see strong demand for its products. The value of total salmon consumption rose by 5% compared to the second quarter of the previous year. However, 2025 has been characterized by robust biological conditions after several years of biological challenges, resulting in significant supply growth this year—up to 18% in the second quarter. Thus, there is downward pressure on prices for producers. This trend has persisted into the third quarter, but Mowi now observes a normalization in production levels within the industry with nearly stable fish populations in the sea year-over-year. Looking ahead, the market expects marginal supply growth for the next year, leading to higher salmon prices.
The board of Mowi has declared a dividend of 1.45 Norwegian kroner per share for the second quarter.
For further information, please contact:
Kristian Ellingsen, CFO, +47 905 14 275
Kim Galtung Døsvig, IR Officer & Head of Treasury, +47 908 76 339
Ola Helge Hjetland, Director of Communications, +47 970 67 932
About Mowi ASA
Mowi is one of the world's leading seafood companies and the largest producer of Atlantic salmon, with an estimated slaughter volume of 545,000 tons in 2025 from seven farming countries, including Norway, Scotland, Ireland, the Faroe Islands, Iceland, Canada, and Chile. Mowi is a globally integrated seafood company offering salmon and other seafood to customers worldwide, partly under its own brand – MOWI. Mowi is recognized as the world's most sustainable producer of animal protein by Coller FAIRR.
Mowi's headquarters is located in Bergen, employing 11,800 people across 26 countries and is publicly listed in Oslo. Revenue for 2024 was €5.62 billion.
For more information, please visit www.mowi.com.
Frequently Asked Questions
What financial results did Mowi report for the second quarter?
Mowi reported revenues of €1.39 billion and an operational profit of €189 million for the second quarter.
How much salmon did Mowi harvest in the second quarter?
Mowi achieved a record harvest of 133,000 tons in the second quarter, a 21% increase from the previous year.
What is the updated volume guidance for Mowi in 2025?
Mowi increased its volume guidance for 2025 from 530,000 tons to 545,000 tons, reflecting an anticipated 9% growth from the previous year.
What are Mowi’s projections for the following year?
In 2026, Mowi expects to harvest at least 600,000 tons of salmon, signaling a continued growth trajectory.
Where can I find more information about Mowi ASA?
More information can be found on Mowi's official website at www.mowi.com.
