Mowi, the world’s leading producer of Atlantic salmon, has closed the first quarter of 2025 with a total harvest of 108,000 tonnes gutted weight (GWT), in line with prior guidance and up from 96,500 tonnes recorded in the same period last year.
Growth was primarily driven by operations in Norway, which accounted for 62,000 tonnes, followed by Scotland (17,500 t), Chile (14,000 t), Canada (5,000 t), the Faroe Islands (4,000 t), Iceland (3,000 t), and Ireland (2,500 t).
Group Operational EBIT reached approximately €214 million (NOK 2.497 billion), compared to €201 million (NOK 2.288 billion) in Q1 2024. The improvement was underpinned by a reduction in farming costs, which fell to €5.89 per kilo, down from €6.05 per kilo a year earlier.
Regional profitability per kilo was as follows: Faroe Islands: €2.75, Norway: €2.50, Scotland: €1.80, Ireland: €0.95, Chile: €0.90, Canada: €0.80, Iceland: €0.00.
Strong performance also extended to Mowi’s value-added divisions. The Consumer Products segment delivered an Operational EBIT of €33 million, supported by steady retail demand. Meanwhile, Mowi Feed achieved an Operational EBITDA of €7 million, confirming its ongoing recovery.
Net interest-bearing debt (excluding IFRS 16 effects) stood at approximately €1.89 billion at the end of the quarter.
Mowi will release its full Q1 2025 report on 14 May at 06.30 CET, reaffirming its position as a global benchmark in the aquaculture sector.
Related
Latest In-depth
-
EU launches Pan-European Campaign “Aquaculture in the EU: "We work for you with passion” with a Fresh Look at Sustainable Production Systems
Brussels, 25 March 2025 | A multilingual website offers citizens in-depth insights into European aquaculture
EVENTS
-
22SepMon, 22 Sep - Thu, 25 SepPalacio de Congresos de Valencia