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In a quarter marked by low salmon prices due to high supply growth, Mowi
delivered a solid result on record-high volumes.
âDespite the quarterâs challenging prices it is pleasing to see that we continue
to deliver well on both operations and growth. 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,â said Mowi
CEO Ivan Vindheim.
Mowi harvested a record-high 166,000 tonnes in the third quarter and is raising
its volume guidance for 2025 once again, this time from 545,000 tonnes to
554,000 tonnes, mainly as a result of consolidating Nova Sea from the fourth
quarter. This corresponds to a growth of 10.5% from 2024. Furthermore, Mowi
expects to harvest 605,000 tonnes in 2026, up 9.2% from the current year. Of
this, 380,000 tonnes will be harvested in Norway.
In just a few years, Mowi has grown from a 400,000-tonne farmer to a 600,000-
tonne farmer, while simultaneously developing into one of the most profitable
aquaculture companies through a strong focus on costs and operations.
âIt is positive to see that we have reduced our farming costs by a full EUR 50
million in the third quarter this year compared with the same quarter last year,
and by EUR 126 million in the year to date. Furthermore, our standing biomass
cost continues to develop positively on lower feed prices and other cost
measures, which bodes well for next yearâs realised production costs,â said
Vindheim.
Mowi Consumer Products, the groupâs processing business, delivered its best
quarter ever with very good operations, record-high volumes, and lower raw
material prices.
âResults in Mowi Consumer Products have improved significantly in recent years,
not only due to better underlying operations, but also because Mowi benefits
from being a fully integrated seafood company. Additionally, in the downstream
segment, we can buy cheaper raw materials and exploit market opportunities in
periods of falling salmon prices, as in 2025,â said Vindheim.
Mowiâs feed division, Mowi Feed, also delivered a strong quarter with record-
high earnings and its second-highest sales volumes ever.
2025 has been a year with abnormally high supply growth coming in the wake of
several years of challenging biology for the industry. Supply growth is now
normalised and is expected to be around 1% next year. This, combined with good
market prospects, means Mowi expects a tighter market balance going forward.
The board of Mowi has decided to pay a quarterly dividend of NOK 1.50 per share.
For more information, please contact:
Kristian Ellingsen, CFO, +47 905 14 275
Kim Galtung DĂžsvig, IR Officer & Head of Treasury, +47 908 76 339
Ola Helge Hjetland, 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 2026 harvest of
605,000 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 12 300 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.
Kilde
