Bergen, Norway-headquartered Mowi ASA posted operational earnings before interest and taxes (EBIT) of approximately €300 million for the second-quarter of this year, some €20 million less than in the corresponding period of 2022.
According to the salmon farming group’s latest trading update, it harvested 107,500 tonnes of gutted weight equivalent (GWE) salmon in the three-month period, which was 4,500 tonnes more than in Q2 2022, but lower than the second-quarter 2021 harvest of 108,000 tonnes.
Mowi’s harvest guidance for Q2 2023 was 104,500 tonnes.
In terms of Mowi’s production regions, Norway harvested 61,500 tonnes, Scotland 18,000 tonnes, Chile 14,000 tonnes, Canada 9,500 tonnes, Ireland 1,500 tonnes, the Faroes 3,000 tonnes and Iceland (Arctic Fish) 100 tonnes.
The operational EBITs for salmon of Norwegian, Scottish, Chilean, Canadian, Irish and Faroese origin were €3.35, €2.30, €1.80, €1.30, €1.40 and €4.60 per kg respectively.
The Q2 2023 operational EBIT in Mowi’s Consumer Products segment was €37 million, up €19 million on Q2 20212, while the Feed division’s operational EBIT increased €4 million to €10 million.
Its reported financial net interest-bearing debt (NIBD) was approximately €1.665 billion at the end of the quarter (excluding IFRS 16 effects).
Mowi will publish its complete Q2 2023 report on 23 August.
