October 30, 2019

Record high volumes for Mowi in third quarter

Mowi achieved a record high turnover and all-time high volumes in the third quarter of 2019.

The company's operational EBIT was €148 million (US$164.4 million), compared to €207 million (US$230 million) in the corresponding quarter of 2018.

"In the quarter, we achieved the highest volumes ever both in farming, sales and feed produced. This resulted in the highest turnover we have ever had in a third quarter. We are aiming at further growth next year with a harvest volume forecast of 450,000 tonnes, up from this year's 430,000 tonnes," said Mowi CEO, Alf-Helge Aarskog.

Due to lower prices and higher farming costs driven by biological issues, the results are lower in the quarter than they were in the same quarter last year.

"The third quarter has been more challenging than normal for our farming organisation. I would therefore like to recognise the hard work from all of my colleagues," said Aarskog.

Mowi reported operational revenues of €1.023 million (US$1.1 million) in the third quarter of 2019. Total harvest volume was 116,989 tonnes in the quarter.

Salmon of Norwegian origin achieved an operational EBIT per kilo of €1.64 (US$1.82) in the third quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of €1.34 (US$1.49) and EUR -0.01, respectively.

Salmon of Chilean origin reported operational EBIT per kilo of €1.32 (US$1.47) in the quarter. Mowi Feed reported an operational EBIT of €7.9 million (US$8.8 million). Mowi Consumer Products reported an operational EBIT of €12.8 million (US$14.2 million).  

Mowi's board of directors has resolved to pay a quarterly dividend of kr2.60 (US$0.28) per share, supported by the results, a strong market outlook and a solid financial position.

- Mowi