Expect a profit reduction of 20 percent from resource rent tax

editorial staff

Seafood company Mowi has been affected to a lesser extent than its Norwegian competitors.

Investment house Arctic Securities expects Mowi to publish its quarterly update (for the third quarter) around 17 October, and estimates there will be an operational operating profit of €204 million, against the consensus’ €232 million.

This appears from an update from the brokerage house on Sunday evening according to TDN Direkt.

Furthermore, Arctic has implemented the proposal for a resource rent tax in its analyses, which gives an around 20 percent lower eps estimate (earnings per share – editor’s note) for 2023 and beyond.

Arctic Securities has lowered its price target on Mowi to NOK 160, from NOK 245 previously, and reiterated its buy recommendation.

Mowi’s feed mill in Kyleakin, Scotland. Photo: Mowi

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