January 17, 2023

Mowi almost doubled its operating profit in 2022

Mowi, the biggest salmon farmer in the world, announced an operating profit of about EUR 1.005 billion (~US$1.088 billion; EUR 1 = US$1.08) for last year, 92% higher compared to the EUR 522.6 million (~US$565 million) profit in 2021, even though the company harvested a slightly smaller volume of fish, Fish Information & Services reported.

According to a market update released by Mowi, 464,000 gutted weight tonnes of fish were harvested in 2022. This harvest is just a little bit lower than the 465,600 gwt obtained the year before.

In the fourth quarter of 2022, Mowi harvested 130,500 gwt of Atlantic salmon globally, which was slightly more than the 127,000 gwt it had predicted in its Q3 2022 report. The group's operational EBIT in Q4 was about EUR 239 million (~US$258 million), compared to EUR 146 million (~US$158 million) in Q4 2021.

Due to extremely low volumes and negative biology, Mowi Ireland suffered a loss of €500,000 (~US$541,000) in the fourth quarter. Operating profits were made in every other region. Norway earned EUR 2.30 (~US$2.49) per kg, and Scotland earned EUR 0.70 (~US$0.76) per kg despite reducing its annual harvest guidance by 10,000 gwt due to biological challenges in the second half of the year. This was an improvement from the Scottish operation's operating profit of EUR 0.29 (~US$0.31) per kg in the third quarter of 2022.

-      Fish Information & Services