Bergen, Norway-headquartered Mowi achieved a company-wide salmon harvest of 135,000 tonnes in the third-quarter of this year, representing a volume increase of 1,000 tonnes compared with the corresponding period of 2022.
According to Mowi’s latest trading update, its Norwegian operations produced 86,000 tonnes of gutted weight equivalent (GWE) salmon in the last quarter, down from 87,500 tonnes in Q3 2022. At the same time, Chile’s harvest of 17,500 tonnes was 500 tonnes more than a year previously, as was the Scottish harvest of 15,000 tonnes. But its Canadian harvest fell from 11,000 tonnes to 7,500 tonnes in the last quarter.
A further 2,000 tonnes was harvested in Ireland and 2,500 tonnes in the Faroe Islands, with the Irish volume on par with a year previously and the Faroese total rising 500 tonnes.
Its Farming Iceland (Arctic Fish) segment harvested 4,500 tonnes.
Mowi achieved operational earnings before interest and taxes (EBIT) of approximately €203 million in the last quarter, down from €240 million in Q3 2022. The blended farming cost was €5.73 per kg in the three-month period.
The company’s salmon of Norwegian, Chilean and Canadian origin achieved lower Q3 year-on-year operational EBITs of €2.15, €0.50 and €-0.60 respectively, while the operational EBITs of its salmon from Scottish, Irish and Faroese origin increased to €0.65, €0.80 and €1.90 per kg.
Iceland’s Q3 2023 operational EBIT was €0.15 per kg.
The company’s trading update explained that its earnings in Canada were negatively impacted by algae-induced mortality.
It also stated the operational EBIT in Mowi’s Consumer Products segment was €40 million, up €10 million compared with Q3 2022, while the Feed segment’s operational EBIT was €1 million higher at €20 million.
Its reported net interest bearing debt (NIBD) was approximately €1.7 billion at the end of the quarter.
Mowi’s full Q3 2023 report will be released on 8 November.
