Record high volumes for Mowi in the third quarter

(Oslo, 30 October 2019) Mowi achieved a record high Q3 turnover and all-time high volumes in the third quarter of 2019. The company’s operational EBIT was EUR 148 million, compared to EUR 207 million in the corresponding quarter of 2018.

“In the quarter we achieved the highest volumes ever both in farming, sales and feed produced. This resulted in the highest turnover we have ever had in a third quarter. We are aiming at further growth next year with a harvest volume forecast of 450 000 tonnes, up from this year’s 430 000 tonnes,” says Mowi CEO, Alf-Helge Aarskog.

Due to lower prices and higher farming costs driven by biological issues, the results are lower in the quarter than they were in the same quarter last year.

“The third quarter has been more challenging than normal for our farming organization. I would therefore like to recognize the hard work from all of my colleagues,” says Aarskog.

Mowi reported operational revenues of EUR 1 023 million (EUR 990 million) in the third quarter of 2019. Total harvest volume was 116 989 tonnes (109 896) in the quarter.

Salmon of Norwegian origin achieved an operational EBIT per kilo of EUR 1.64 (2.25) in the third quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of EUR 1.34 and EUR -0.01 respectively (EUR 1.36 and EUR 1.05). Salmon of Chilean origin reported operational EBIT per kilo of EUR 1.32 in the quarter (EUR 1.28). Mowi Feed reported an operational EBIT of EUR 7.9 million (EUR 7.3 million). Mowi Consumer Products reported an operational EBIT of EUR 12.8 million (EUR 16.3 million).   

Mowi’s Board of Directors has resolved to pay a quarterly dividend of NOK 2.60 per share, supported by the results, a strong market outlook, and a solid financial position. 

For further information, please contact: 

Ivan Vindheim, CFO,  310 

Kim Galtung Døsvig, IR Officer & Head of Treasury,  339 

About Mowi ASA

Mowi, formerly known as Marine Harvest, is the largest producer of farm-raised salmon in the world. As the first global seafood company with an end-to-end supply chain, Mowi’s ownership over every stage of production enables it to bring supreme quality salmon to consumers around the world.

With headquarters in Bergen, Norway, Mowi employs over 14 500 people in 25 countries worldwide, and is listed on the Oslo Stock Exchange. 

For more information, please visit  

Forward looking statements 

This release may be deemed to include forward-looking statements, such as statements that relate to Mowi's goals and strategies, salmon prices, ability to increase or vary harvest volume, production capacity, trends in the seafood industry, restructuring initiatives, exchange rate and interest rate fluctuations, expected research and development expenditures, business prospects and positioning with respect to market, demographic and pricing trends, strategic initiatives, and the effects of any extraordinary events and various other matters (including developments with respect to laws, regulations and governmental policies regulating the industry and changes in accounting policies, standards and interpretations) on Mowi's business and results. Forward-looking statements are typically identified by words or phrases, such as "believe," "expect," "anticipate," "intend," "estimate," "may increase," "may fluctuate," "plan," "goal," "target," "strategy," and similar expressions or future or conditional verbs such as "may," "will," "should," "would," and "could." Forward-looking statements are Mowi's current estimates or expectations of future events or future results. Actual results could differ materially from those indicated by these statements because the realization of those results is subject to many risks and uncertainties. Mowi ASA's Annual Report contains additional information about factors that could affect actual results, including: changes to the price of salmon including the value of our biological assets; hedging risks; risks related to fish feed; economic and market risks; environmental risks; operational risks; risks related to escapes, disease and sea lice; product risks; risks related to our acquisitions; financing risks; regulation risks including relating to food safety, the aquaculture industry, processing, competition and anti-corruption; trade restriction risks; litigation risks; tax and accounting risks; strategic and competitive risks; and reputation risks. All forward-looking statements included in this release are based on information available at the time of the release, and Mowi assumes no obligation to update any forward-looking statement. 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. 

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