Mowi has reported another record-breaking quarter in Q3 2023 with revenues of €1.36 billion, thanks to the high demand and prices for salmon.
This figure is up 7.9% from the corresponding period last year. Operational profit for the quarter was €203 million.
“Record-high volumes and favourable salmon prices, coupled with outstanding operational performance from my 11,500 colleagues worldwide, have culminated in another record-setting quarter for Mowi,” said chief executive, Ivan Vindheim.
Mowi harvested an all-time high of 135,000 tonnes of salmon in the quarter with the company on track to make its expected 484,000 tonnes for the year.
Guidance for next year of 500,000 tonnes marks a new all-time high and a milestone achievement for the Norwegian firm, which was harvesting 357,000 tonnes as recently as 2018.
In Mowi Farming Norway, Mowi’s most important entity, volume guidance for 2023 has been increased to a record-high 295,000 tonnes from 290,000 tonnes, following good seawater growth and operational performance.
Volume guidance for 2024 has been set to 305,000 tonnes and crosses the 300,000 tonnes mark for the first time in Mowi’s 60-year history.
The Consumer Products and Feed segments also enjoyed a strong quarter, with record-high volumes in the former and earnings in the latter.
The company has also been named as the world’s most sustainable producer of animal proteins by Coller FAIRR for the fifth consecutive year.
Mowi’s board has decided to pay a quarterly dividend of NOK1.50 (€0.13) per share.
