Record 2023 for Mowi

Its final quarter of the year was also a record with revenues of €1.43 billion, up 5.15% on the same period in 2022. Operational profit was €203 million.

“I am extremely grateful for the hard work and dedication of my 11,500 colleagues around the world that has led to record results and stellar performance in Mowi’s three business areas – farming, consumer products and feed – in 2023,” said Mowi chief executive, Ivan Vindheim.

Mowi harvested 129,234 tonnes of salmon in the quarter. Full-year harvest volume guidance for 2024 is maintained at 500,000 tonnes.

By the end of 2024 Mowi’s postsmolt capacity will be almost 40 million postsmolt, equivalent to approximately 25% of the group’s total smolt. In Norway, Mowi’s postsmolt share will be approximately 50% when the naturally more resilient Region North is excluded from the equation.

Consumer products had a strong year setting records in operational profit of €152 million and volumes of 232,000 tonnes product weight.

“These are impressive results, and I think it is fair to say that consumer products’ relentless focus on operational excellence over the past few years has really started to pay off,” said Vindheim.

Mowi feed delivered a good fourth quarter result and can also celebrate its best year so far with an operational EBITDA of €52 million and volumes sold of 523,000 tonnes.

Mowi’s board has decided to pay a quarterly dividend of NOK1.90 (€0.17) per share.