Mowi releases 2024 Integrated Annual Report: A year of growth, sustainability and innovation

MOWI - presentación informe sostenibilidad 2025

Mowi ASA, a global frontrunner in aquaculture and a trailblazer in Atlantic salmon production, has published its 2024 Integrated Annual Report. This document outlines the group’s financial performance, sustainability progress and strategic outlook, reaffirming its pivotal role in the so-called “Blue Revolution”.

In 2024, Mowi reported operating revenues of €5,616 billion, with an operational EBIT of €828.9 million. While these figures mark a slight decrease compared to 2023, the company maintained a strong operating margin of 14.8%.

Net cash flow per share stood at €0.43-down modestly from €0.56 the previous year. Novertheless, Mowi continued to invest in efficiency and capacity, with capital expenditure reaching €290 million, and plans to increase this to €310 million in 2025.

Production Growth and Record Output in Norway

Mowi harvested 530,000 tonnes (GWT-gutted weight with head on) of salmon in 2024. Of this, 304,000 tonnes came from Norway, setting a new production record for the country. Looking ahead, output in Norway is forecast to rise to 315,000 tonnes in 2025.

Mowi has ramped up its sustainability efforts through its Leading the Blue Revolution strategy. Key actions include increasing the use of alternative feed ingredients-4% now derived from emerging sources such as algae oil and plant-based proteins.

The company has also reduced the use of sea lice treatments and antibiotics across several countries. Notably, there were zero escape incidents reported in Chile, Canada, Ireland, and Scotland. Globally, just 12 incidents were recorded, representing a more 0.05% of fish at sea.

Furthermore, 10% of the executive team’s variable pay is now tied to climate-related targets, including reductions in greenhouse gas emissions.

Mowi plans to continue investing in post-smolt technologies, automation at its consumer product plants, new facilities in Scotland, and animal welfare improvements-including submerged cages and sea lice laser systems.

Despite ongoing macroeconomic challenges, the company expects demand for salmon to outpace supply in 2025, supporting favourable market prices.