Mowi reports strong operational Q2

This upturn, seen across all business areas, has been attributed to seasonal record-high growth in sea and reducing farming costs.

“Mowi harvested a record 110,000 tonnes of salmon in the second quarter,” said chief executive, Ivan Vindheim.

“At the same time our biomass in sea was at an all-time high level at the end of the quarter, and up by 9.4% from last year.”

The company says it is well on track to deliver its expected volumes of a milestone 500,000 tonnes, up from 375,000 tonnes in 2018.

Volume growth is one of Mowi’s strategic pillars, and Vindheim reports that Mowi is yet again expected to significantly outgrow the market in 2024 with company growth of 5.3% against an average industry growth of 0.8%.

“Beyond 2024, we aim to continue to grow faster than the wider industry, through greater use of larger smolt and postsmolt in Norway and Scotland, and generally higher smolt stocking levels across our global farming footprint, enabling us to take advantage of organic growth opportunities,” he said.

Mowi Consumer Products, the group’s value-added business, delivered increased earnings compared with the first quarter on continued good operational performance.

For Mowi Feed, volumes were seasonally record-high on continued good feed demand in Europe, up by 14% compared with the second quarter last year.

Mowi’s board has decided to pay a quarterly dividend of NOK 1.70 (€0.15) per share.