Mowi ASA, the world’s largest salmon producer, achieved record harvest volumes in the third quarter of 2024, reaching 161,000 gutted weight tonnes (GWT).
This figure surpasses the company's initial forecast, which had estimated 159,000 tonnes for the period.
By production regions, Norway, with 106,000 tonnes, continues to dominate with 65% of total harvests. It is followed by Chile with 23,000 tonnes, Scotland with 15,000 tonnes, Canada with 7,000 tonnes, Ireland with 3,500 tonnes, Iceland (Arctic Fish) with 3,500 tonnes, and the Faroe Islands with 3,000 tonnes.
The operating profit before taxes (operational EBIT) improved compared to the second quarter, reaching EUR 173 million, with an average production cost of EUR 5.72 per kilogram, down from EUR 5.84 in the second quarter.
By region, Norwegian farms delivered the highest operating profit per kilogram. Across the value chain, the highest operational profit per kilogram in Q3 2024 was recorded in Norway at EUR 1.40/kg, followed by Ireland at EUR 1.20/kg, Scotland at EUR 0.85/kg, Chile and the Faroe Islands at EUR 0.60/kg, Iceland at EUR 0.40/kg, and finally Canada, which showed a negative value of EUR -0.55/kg, although in Eastern Canada the profit was EUR 0.64/kg.
In other business segments, the operational EBIT in consumer products was EUR 43 million, while operational EBITDA in the feed division reached EUR 25 million. By the end of the quarter, the group’s net interest-bearing debt was approximately EUR 1.77 billion.
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