Mowi lifts 2025 volume guidance after record Q3 harvest, declares NOK 1.50 dividend.
Mowi reported third-quarter revenues of €1.39 billion and operational EBIT of €112 million, supported by record harvest volumes in a weak price environment.
Harvest totalled 166,000 tonnes in Q3, a company record. Mowi raised 2025 harvest guidance to 554,000 tonnes (from 545,000 tonnes), mainly reflecting consolidation of Nova Sea from the fourth quarter, implying 10.5% growth versus 2024. Guidance for 2026 is 605,000 tonnes, of which 380,000 tonnes is expected from Norway.
Management said farming costs fell by €50 million year on year in Q3 and by €126 million year to date, helped by lower feed prices and other measures. Standing biomass costs are trending down, which the company said supports lower realised production costs next year.
Mowi Consumer Products delivered its best quarter on record on strong operations, record volumes and lower raw-material prices. Mowi Feed reported record earnings with its second-highest sales volumes.
Mowi said 2025 saw abnormally high industry supply growth after several years of challenging biology, but supply has now normalised. The company expects ~1% global supply growth in 2026 and a tighter market balance.
The board declared a quarterly dividend of NOK 1.50 ($0.15) per share.
