Mowi's Impressive Q2 Performance
In an exceptional second quarter of 2025, Mowi generated operating revenues amounting to a remarkable EUR 1.39 billion, leading to an operational profit of EUR 189 million. This signifies a fantastic period for Mowi, marked by significant biological and operational success, as well as a notable increase in volumes while costs declined.
Record Volumes and Production Growth
During this impressive quarter, Mowi harvested a record-breaking 133,000 tonnes of salmon, which represents an impressive 21% growth compared to the previous year. This upward trend has prompted Mowi to revise its volume forecast for the year to an anticipated 545,000 tonnes, showcasing an annual growth target of 9% from 2024.
Strategic Enhancements to Production
Mowi's CEO, Ivan Vindheim, expressed satisfaction with the company’s operational strategy, particularly in light of a recent agreement to enhance their ownership stake in Nova Sea from 49% to 95%. This strategic move is expected to facilitate a projected harvest of at least 600,000 tonnes as early as next year, reflecting a potential growth of 10% in 2026, along with a goal to reach 400,000 tonnes produced solely in Norway.
Focus on Sustainability and Efficiency
Mowi's ambitious growth plans stand out notably as the company aims to transition from producing 400,000 tonnes per year globally to 600,000 tonnes by 2026, showcasing an annual growth rate of 6.1%, significantly surpassing the industry's average growth of 3.3%. This achievement is primarily attributed to Mowi’s commitment to organic growth initiatives, which are anticipated to further enhance volume growth in the coming years. Notably, while production volumes surged, Mowi has successfully reduced the overall number of man-years in the process, concurrently enhancing productivity by 36%.
Lower Production Costs Boost Financial Results
Mowi's determination to optimize its operations has evidently paid off, as production costs have witnessed a significant dip, reaching the lowest level since 2022. The reduction in production costs has contributed an impressive EUR 49 million to earnings in this quarter alone, and EUR 67 million thus far in 2025. These encouraging results are partly a consequence of decreasing feed prices as well as various cost-reduction measures implemented by Mowi over time.
Success in Consumer Products Sector
The Mowi Consumer Products division has also had an outstanding quarter, achieving record performance driven by high operational efficiency, significant volumes, and lower raw material costs. According to Vindheim, this segment has seen marked improvement in earnings over the years, thanks to better operational capabilities as well as Mowi’s ability to capture a larger share of value creation as an integrated salmon company.
Market Demand and Future Expectations
The demand for Mowi’s offerings has seen a significant uptick, with total salmon consumption by value rising by 5% compared to the same quarter last year. The year 2025 has been highlighted by strong biological performance following prior challenges, resulting in high global supply growth, which reached 18% in the second quarter. Though this has led to increased market pressure on prices, analysts expect that supply growth will normalize moving into 2026, potentially leading to higher salmon prices.
Dividend Declaration
Mowi’s Board of Directors recently announced a quarterly dividend of NOK 1.45 per share, reflecting the company's strong performance and commitment to shareholder value.
About Mowi ASA
Mowi ASA is recognized as one of the world's foremost seafood enterprises and stands as the largest producer of farm-raised Atlantic salmon globally. With an estimated harvest of 545,000 tonnes planned for 2025, the company operates across seven farming countries including Norway, Scotland, Ireland, Faroe Islands, Iceland, Canada, and Chile. Mowi is committed to sustainability, earning the reputation as the most sustainable listed animal protein producer according to Coller FAIRR.
Headquartered in Bergen, Norway, Mowi employs approximately 11,800 individuals across 26 countries and is listed on the Oslo Stock Exchange, reporting a turnover of EUR 5.6 billion in the previous financial year.
Frequently Asked Questions
What were Mowi's revenues in the second quarter of 2025?
Mowi generated operating revenues of EUR 1.39 billion in the second quarter of 2025.
How much salmon did Mowi harvest in Q2 2025?
Mowi harvested a record 133,000 tonnes of salmon, marking a 21% increase compared to the previous year.
What is Mowi's expected harvest for 2025?
The company has adjusted its volume guidance for 2025 to 545,000 tonnes.
What dividend has Mowi declared recently?
Mowi's Board of Directors announced a quarterly dividend of NOK 1.45 per share.
How many people does Mowi employ globally?
Mowi employs approximately 11,800 people in 26 countries around the world.
