Mowi lifts harvest guidance after record second quarter.
Mowi has reported operating revenues of €1.39 billion in the second quarter, with operational profit of €189 million.
The company harvested a record 133,000 tonnes in the quarter, a 21 percent increase year-on-year, and raised its 2025 volume guidance to 545,000 tonnes, equivalent to 9 percent annual growth from 2024.
Chief executive Ivan Vindheim said the company’s performance reflected strong seawater growth and lower costs. “It is extremely encouraging to see our production cost fall in the second quarter to its lowest level since 2022, something which has contributed €49 million to earnings in the quarter,” he said.
Mowi has concluded an agreement to increase its stake in Nova Sea from 49 to 95 percent. Vindheim said the deal supports an expectation to harvest at least 600,000 tonnes in 2026, equivalent to 10 percent growth from 2025, with production in Norway alone approaching 400,000 tonnes.
Revenues were supported by what the company described as strong biology, all-time high volumes and declining costs. Mowi said productivity had risen by 36 percent in recent years while total man-years decreased.
The company’s Consumer Products division delivered its best quarter on record, benefiting from lower raw material prices, while Mowi Feed also achieved record second-quarter earnings and sold volumes.
Global salmon supply grew 18 percent in the second quarter, putting pressure on prices. However, Mowi said production was now normalising, with marginal supply growth expected in 2026 and higher prices anticipated as a result.
The board declared a quarterly dividend of NOK 1.45 ($0.15) per share.
