Mowi has generated record-high operating revenues of €1.5 billion in the fourth quarter of 2024, leading to an operational profit of €226 million.
This milestone capped off an exceptional year for the world’s largest aquaculture company, with total revenues reaching €5.62 billion from 502,000 tonnes of salmon harvested – both record numbers for Mowi. The fourth quarter alone saw a harvest volume of 134,000 tonnes, a seasonal record.
“Our margins show that we were once again competitive on cost in 2024, which is vitally important in salmon farming,” said Mowi’s chief executive, Ivan Vindheim. “Falling feed prices have also contributed to somewhat reduced costs, and we expect that trend to continue in 2025.”
Seawater production remained strong throughout Q4, continuing into 2025, while Mowi further expanded its market position by acquiring an additional 46% of Nova Sea, raising its stake to 95%. Mowi expects to harvest 52,000 tonnes of salmon from Nova Sea in 2025.
“With Nova Sea on board, we expect our volumes to reach 600,000 tonnes next year, and we will be well on our way to harvesting 400,000 tonnes in Norway alone,” continued Vindheim.
In addition to its strong financial performance, Mowi’s value-added business, Mowi Consumer Products, also achieved record profits, posting €53 million in Q4 and €146 million for the year. Mowi Feed delivered similarly impressive results, with operational profit of €62 million from 585,000 tonnes of feed.
“We are seeing good retail demand for our products and continue to develop new and innovative high-quality products to keep up with new trends and consumers’ ever-changing needs,” said Vindheim.
The company’s board has announced a quarterly dividend of NOK 2.00 per share (€0.17).
