Mowi Shows Unexpected Growth in Second Quarter
Mowi recently reported impressive financial results for its second quarter, achieving a staggering revenue of 1.39 billion euros, which translates to approximately 16.29 billion kroner. This showcases not only the company's robust operational performance but also its ability to adapt in a competitive market.
Record High Yields from Production
During this quarter, Mowi slaughtered a record 133,000 tons of fish, marking a remarkable 21% increase compared to the previous year. This surge in production volume led the company to adjust its guidance for 2025, increasing expected production from 530,000 tons to 545,000 tons—a promising outlook indicating a 9% rise from 2024.
Positive Operational Changes and Strategic Moves
Ivan Vindheim, Mowi's CEO, emphasized the company's achievements in developing its growth strategy. The recent agreement to increase ownership in Nova Sea from 49% to 95% is expected to enhance production capabilities, forecasting at least 600,000 tons by next year, representing a 10% growth for 2026. Mowi's commitment to expanding its operational capacity is evident in its steady climb from a production level of 400,000 tons to 600,000 tons in just a few years.
Improvements in Cost Efficiency and Productivity
Additionally, Mowi has achieved a significant reduction in production costs, reaching the lowest levels since 2022. This cut resulted in an increased earnings of 49 million euros (approximately 572 million kroner) during the quarter and 67 million euros (about 782 million kroner) for the first half of the year. These improvements can be attributed to declining feed prices and consistent long-term organizational strategies.
Consumer Products Division Thrives
The company's Consumer Products segment also recorded substantial success with high volumes and falling raw material prices. Vindheim noted that the vertical integration has allowed Mowi to capture more value in the supply chain, substantially improving profitability even amidst fluctuating salmon prices.
Looking Ahead: Market Conditions and Expectations
Mowi continues to face good demand in the market, with a 5% increase in total salmon consumption year-over-year. This year has marked a recovery with strong biological health in the industry, which is expected to normalize prices in the near future. Managing expectations for 2026, Mowi anticipates marginal supply growth and a possible rise in salmon prices.
Company Dividend Declaration
The board at Mowi has announced a dividend of 1.45 kroner per share for the second quarter, further demonstrating the company's commitment to returning value to its shareholders.
About Mowi ASA
Mowi ASA stands as one of the world’s leading seafood companies and the largest producer of Atlantic salmon, with expected harvest volumes of 545,000 tons in 2025 from various farming locations. The company operates as a fully integrated seafood supplier, marketing products globally under its brand, MOWI. Capturing sustainability at its core, Mowi has been recognized as the world’s most sustainable producer of animal protein.
Headquartered in Bergen, Mowi employs 11,800 individuals across 26 countries and is listed on the Oslo Stock Exchange. The company recorded revenues of 5.62 billion euros in 2024, steadily advancing its market position.
For further inquiries, please contact the following individuals:
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
Frequently Asked Questions
What were Mowi's revenue figures for the second quarter?
Mowi reported a revenue of 1.39 billion euros, which is significantly higher than previous reports.
How much salmon did Mowi slaughter in the second quarter?
The company achieved a slaughter volume of 133,000 tons in the second quarter, a 21% increase from last year.
What are Mowi's projections for the future?
Mowi anticipates producing at least 600,000 tons by next year, with a growth target of 10% for 2026.
What is the current status of Mowi's cost efficiency?
The company has successfully reduced production costs, leading to significant increases in earnings for the quarter.
How has Mowi's Consumer Products division performed?
The Consumer Products segment has seen record performance driven by solid operational strategies and favorable market conditions.
