Mowi has reported revenues of €1.39 billion and an operational EBIT of €112 million for the third-quarter of 2025.
Despite low salmon prices caused by high global supply growth, the company achieved solid results driven by record production volumes.
“Despite the quarter’s challenging prices it is pleasing to see that we continue to deliver well on both operations and growth,” Mowi’s chief executive, Ivan Vindheim.
“We have never produced more salmon than we did this quarter and we have never had more fish in the sea at this time of year. All of which positions us well for further growth.”
Mowi harvested an all-time high of 166,000 tonnes in the quarter and has raised its 2025 volume guidance from 545,000 tonnes to 554,000 tonnes, largely due to the consolidation of Nova Sea from the fourth quarter.
This represents a 10.5% increase from 2024, while harvest volumes are expected to reach 605,000 tonnes in 2026. Of this, 380,000 tonnes will come from Norway.
“It is positive to see that we have reduced our farming costs by a full €50 million in the third quarter this year compared with the same quarter last year, and by €126 million in the year to date,” continued Vindheim.
“Furthermore, our standing biomass cost continues to develop positively on lower feed prices and other cost measures, which bodes well for next year’s realised production costs.”
Mowi Consumer Products achieved its best quarter ever, benefitting from strong operations, record volumes and lower raw material costs. Mowi Feed also delivered record-high earnings.
With supply growth normalising to around 1% next year and a stronger market balance expected, the board has approved a quarterly dividend of NOK 1.50 (€0.13) per share.
