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The first quarter of 2025 brought increased revenues and results for Mowi
compared with the same quarter last year, on strong biological and operational
performance, along with improved volumes and cost.
âSo far, 2025 has been a very good year operationally and biologically which has
resulted in high harvest volumes combined with seasonally record-high biomass in
sea,â said Mowi CEO, Ivan Vindheim.
Volume growth across the value chain is one of Mowiâs strategic pillars. The
company harvested 108,000 tonnes in the quarter representing growth of 12%
compared with last year. Mowi is maintaining its harvest volume guidance for
2025 of 530,000 tonnes, equivalent to annual growth of 6%. This is supported by
seasonally record-high biomass in sea with 11% growth year-on-year. Taking into
consideration the recent agreement to increase its ownership of Nova Sea from
49% to 95%, Mowi expects to harvest 600,000 tonnes next year.
âSeawater production went very well in the first quarter, with improved growth,
survival rates, feed conversion ratio and superior share,â Vindheim said.
As recently as 2018, Mowiâs harvest volumes were 375,000 tonnes, hence the
company will have grown its farming volumes by 155,000 tonnes by the end of
2025, which is equivalent to a CAGR of 5.1% versus a projected CAGR for the
industry of 3.3%. This comprises mainly organic growth, and Mowi still has
further organic growth initiatives that are expected to contribute to additional
volume growth.
Mowi Consumer Products, the groupâs value-added business, had yet another strong
quarter on good operational performance and high volumes.
âDemand for salmon was good in the quarter and downstream earnings improved in
Europe, Americas and Asia. At the same time, however, high supply growth put
pressure on market prices,â Vindheim said.
Global supply growth in the first quarter was as much as 13% in Europe and 8%
globally, an effect that should be seen as a one-off correction following three
years of challenging biology. Mowi expects supply growth to be 6% in 2025,
before returning to trend growth of around 2-3% thereafter because of regulatory
constraints.
Mowi Feed also had a strong quarter with record-high earnings and sold volumes
for a first quarter.
âMowiâs own feed continues to perform very well, constituting a crucially
important contributing factor to our harvest volume growth of recent years,â
said Vindheim.
Mowiâs Board has decided to pay a quarterly dividend of NOK 1.70 per share.
For further information, please contact:
Kristian Ellingsen, CFO, +47 905 14 275
Kim Galtung Døsvig, IR Officer & Head of Treasury, +47 908 76?339
Ola Helge Hjetland, Group Communications Director, +47 970 67 932
About Mowi ASA
Mowi is one of the worldâs leading seafood companies and the largest producer of
farm-raised Atlantic salmon in the world, with an estimated 2025 harvest of
530 000 tonnes from seven farming countries including Norway, Scotland, Ireland,
Faroes, Iceland, Canada and Chile.
Mowi is a fully integrated global seafood company, bringing salmon and other
seafood of supreme quality to consumers around the world, partly under its own
MOWI brand. Mowi is ranked as the most sustainable listed animal protein
producer in the world by Coller FAIRR.
With headquarters in Bergen, Norway, Mowi employs 11 800 people in 26 countries
worldwide, and is listed on the Oslo Stock Exchange. Turnover was EUR 5.6
billion in 2024.
For more information, please visit mowi.com.
Forward looking statements
This release may be deemed to include forward-looking statements, such as
statements that relate to Mowiâs 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 Mowiâs business and results.
Forward-looking statements are typically identified by words or phrases, such as
âbelieve,â âexpect,â âanticipate,â âintend,â âestimate,â âmay increase,â âmay
fluctuate,â âplan,â âgoal,â âtarget,â âstrategy,â and similar expressions or
future or conditional verbs such as âmay,â âwill,â âshould,â âwould,â and
âcould.â Forward-looking statements are Mowiâs 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 ASAâs 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, anti-trust 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.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act
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