reports
Mowi ASA (OSE:MOWI): Q1 2024 Trading update
Mowi ASA (OSE:MOWI): Q1 2024 Trading update Harvest volumes Q1 2024 (1) Farming Norway55.0 thousand tonnesFarming Scotland14.5 thousand tonnesFarming Chile12.5 thousand tonnesFarming Canada8.5 thousand tonnesFarming Ireland1.0 thousand tonnesFarming Faroes2.5 thousand tonnesFarming Iceland (Arctic Fish)2.5 thousand tonnesTotal96.5 thousand tonnes Note:(1) The harvest volumes are provided in gutted weight equivalents (GWE). Additional information Operational EBIT for the Group was approximately EUR 201 million in Q1 2024. Blended farming cost was EUR 6.05 per kg in the quarter. Issues w...
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Alexander Aukner
Mowi (Buy, TP: NOK235.00) - Unjustified discount to peers
We forecast Q1 operating EBIT of EUR234m, 9% below consensus of EUR258m (results due at 06:30 CET on 8 May). With a solid operating track record in Norway and rebound potential in several international farming regions, we find Mowi’s 35% discount to Bakkafrost and SalMar on a blended 12-month forward P/E unjustified. We reiterate our BUY and NOK235 target price.
Mowi ASA Assigned BBB+ Investment Grade Rating With a Stable Outlook F...
Mowi ASA Assigned BBB+ Investment Grade Rating With a Stable Outlook From Nordic Credit Rating Nordic Credit Rating has today assigned a first-time long-term issuer credit rating of BBB+ with a stable outlook to Mowi ASA. The credit rating report from Nordic Credit Rating can be found here:
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
Mowi ASA: Integrated Annual Report 2023
Mowi ASA: Integrated Annual Report 2023 Mowi has today published its 2023 Integrated Annual Report, including sustainability reporting and complete 2023 annual accounts with notes. The integrated report is attached, available in European Single Electronic Format (ESEF) and has been published on The Green Financing Impact Report for 2023 in relation to Mowi’s EUR 200 million Green Bond issuance has also been published today and is available on our website /investors/share-and-bond/bonds/This information is subject to the disclosure requirements pursuant to section of 5-12 of the Norwegian S...
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Alexander Aukner
The quality report
Knowing who has the best farming locations, production areas and operations is key to assessing future performance potential. Our extensive asset quality research findings suggest SalMar has the best sites, and the best MAB portfolio, while Mowi has outperformed its benchmark the most and has the most conservative estimates versus our expectations. Grieg Seafood is the most undervalued and Lerøy Seafood has the highest margin rebound potential in our view.
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Alexander Aukner
Mowi (Buy, TP: NOK235.00) - Strong Q4, few potential catalysts
The strong Q4 was due to Norway flowing a surprisingly high superior share. The 2024 cash flow guidance was better than we expected, but partly driven by higher working capital build and investments in 2023. The group harvest guidance was maintained at 500kt, but Q1 suggests more back-end loaded than we forecast. A DPS of NOK1.9 was proposed (we estimated NOK1.8, consensus NOK1.4). We have reduced our 2024e EPS by 2.5% but raised 2025–2026e by 1.8–0.8%. We reiterate our BUY and NOK235 target pri...
- Alexander Aukner
Mowi (Buy, TP: NOK235.00) - Uneventful Q4
Q4 operating EBIT of EUR203m was in line with the trading update, but 5% below consensus of EUR214m. Mowi guide costs up in Q1 on seasonally lower volumes (in line). The 2024 volume guidance remained 500kt. The proposed DPS of NOK1.9 was above our forecast and consensus of NOK1.6–1.4. Mowi sees global supply growth of 2% in 2024e and reasonably good demand. We find the results strong, but the outlook as expected. We expect minor changes to consensus 2024e EPS and a flattish share price reaction ...
Mowi ASA (OSE: MOWI): Quarterly dividend
Mowi ASA (OSE: MOWI): Quarterly dividend The Board of Mowi ASA has resolved on 13 February 2024 to make a quarterly distribution to shareholders of NOK 1.90 per share. Mowi ASA’s shares listed on the Oslo Stock Exchange will be traded including dividend up to and including 22 February 2024. Mowi ASA’s shares listed on the Oslo Stock Exchange will be traded excluding dividend from and including 23 February 2024. Mowi ASA’s shares listed on the Oslo Stock Exchange will have a Record Date of 26 February 2024. The expected payment date is 4 March 2024. This information is subject to the discl...
Strong quarter to end another record year for Mowi
Strong quarter to end another record year for Mowi (Bergen, 14 February 2024) Mowi recorded record-high revenues of 1.43 billion euros in the fourth quarter, compared with 1.36 billion euros in the corresponding quarter of 2022. Operational profit was 203 million euros in the quarter. The fourth quarter concluded another record-breaking year for Mowi. Revenues of 5.5 billion euros, operational profit of 1,028 million euros and harvest volumes of 475 000 tonnes in 2023 were all record-high. “I am extremely grateful for the hard work and dedication of my 11,500 colleagues around the world...
Sterkt kvartal avslutter nok et rekordår for Mowi
Sterkt kvartal avslutter nok et rekordår for Mowi (Bergen, 14. februar 2024) Mowi rapporterte rekordhøye inntekter i fjerde kvartal på 1,43 milliarder euro, sammenlignet med 1,36 milliarder euro i samme kvartal i fjor. Selskapet oppnådde samtidig et sterkt operasjonelt driftsresultat på 203 millioner euro. Fjerde kvartal rundet av det som ble nok et rekordår for Mowi. Omsetning på 5,5 milliarder euro (63 milliarder kroner), operasjonelt driftsresultat på 1 028 millioner euro (11,7 milliarder kroner) og slaktevolum på 475 000 tonn i 2023 er alle rekordhøye. – Vi er svært fornøyd med rekord...
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