Mowi's Extraordinary Performance in Recent Quarters
Mowi recently reported unprecedented revenues of 1.5 billion euros and an operational profit of 226 million euros for the fourth quarter. This remarkable financial performance illustrates the company's strong market presence and effective strategies.
Unprecedented Growth in 2024
The year 2024 marked a significant milestone for Mowi, showcasing the highest revenues and slaughter volumes ever recorded. With total revenues reaching 5.62 billion euros and a slaughter volume of 502,000 tons, Mowi has set new industry standards. The remarkable seasonal slaughter volume of 134,000 tons in the fourth quarter reflects Mowi's well-executed operational strategies.
Operational Efficiency and Cost Management
According to Mowi's CEO, Ivan Vindheim, the impressive margins achieved last year highlight the company’s competitiveness in cost management. Decreasing feed prices are expected to further enhance profitability as Mowi heads into 2025, illustrating a proactive approach to cost control in such a competitive industry.
Enhanced Production Capabilities
Mowi's strong production performance in the sea during the fourth quarter has set a promising foundation for the new year. Vindheim noted significant improvements during this winter compared to the previous year, seeing better growth rates, survival rates, feed conversion ratios, and overall product quality.
Strategic Acquisitions for Expansion
In a strategic move to strengthen its market position, Mowi recently acquired Vigner Olaisen AS's shares in Nova Sea, increasing its ownership from 49% to an impressive 95%. Nova Sea, known for its outstanding biological performances and market-leading margins in aquaculture, is poised to contribute significantly to Mowi's growth. The projected slaughter volume for Nova Sea in 2025 is estimated at 52,000 tons.
Ambitious Future Goals
With Nova Sea integrated into its operations, Mowi anticipates a total slaughter volume of 600,000 tons by next year. This would represent a growth of 225,000 tons since 2018, reflecting the company's robust annual growth rate of 6.1%, far surpassing the industry average of 3.1%.
Investment in the Aquaculture Industry
Mowi is committed to continuous investments throughout the value chain, focusing on various growth initiatives. One of the primary strategies includes enhancing post-smolt production, which is beginning to show promising results. Improved quality and robustness in smolt are expected to result in favorable biological metrics and better fish welfare.
Sustainability and Consumer Demand
For the sixth consecutive year, Mowi has been recognized as the most sustainable producer of animal protein by the Coller FAIRR Protein Producer Index. This accolade not only boosts Mowi's reputation but also underscores the company's dedication to sustainable practices across the board.
Strong Performance in Processing and Feed Production
Mowi's Consumer Products division also concluded the year with record operational profits of 53 million euros in the fourth quarter, reaching 146 million euros for the entire year. Additionally, the division set a volume record with 247,000 tons produced, a 6.5% increase from the previous year.
Expanding Feed Production Capacity
The feed production sector, Mowi Feed, has also posted remarkable results, achieving a gross operating profit of 62 million euros from 585,000 tons of feed. The growth trend has continued strongly, demanding further enhancements in operational capacity to meet growing needs, particularly following the acquisition of Nova Sea.
Dividend Announcement
The Mowi board has declared a dividend of 2.00 NOK per share for the fourth quarter, reflecting the company's commitment to returning value to its shareholders amidst record-breaking performance.
Contact Information
For inquiries, please reach out to Kristian Ellingsen, CFO, at +47 905 14 275; Kim Galtung Døsvig, IR Officer & Head of Treasury, at +47 908 76 339; or Ola Helge Hjetland, Communications Director, at +47 970 67 932.
About Mowi ASA
Mowi ASA stands as one of the world's leading seafood companies and the largest producer of Atlantic salmon, projected to harvest 530,000 tons in 2025. The company operates across seven farming countries, including Norway and Scotland, and is a fully integrated seafood provider, distributing both salmon and other seafood products globally, under its own brand – MOWI.
Frequently Asked Questions
What were Mowi’s revenues for the fourth quarter?
Mowi reported revenues of 1.5 billion euros for the fourth quarter, showcasing significant growth.
How much salmon does Mowi expect to harvest in 2025?
Mowi anticipates harvesting approximately 530,000 tons of salmon in 2025.
What strategic acquisition did Mowi recently make?
Mowi acquired additional shares in Nova Sea, increasing its ownership to 95%.
How has Mowi performed in terms of sustainability?
Mowi has been ranked as the most sustainable producer of animal proteins for six consecutive years by the Coller FAIRR Index.
What is the dividend declared by Mowi for the fourth quarter?
The Mowi board has declared a dividend of 2.00 NOK per share for Q4.
