Mowi nearly doubled its first-quarter result

Surfing at high salmon prices.

The salmon giant presents its trading update for this year’s først quarter on Wednesday morning. Mowi harvested 97,000 tonnes of salmon during the first three months of the year. The harvesting volume was distributed as follows:

  • Farming Norway 59.5 thousand tonnes
  • Farming Scotland 10.5 thousand tonnes
  • Farming Chile 16.0 thousand tonnes
  • Farming Canada 9.0 thousand tonnes
  • Farming Ireland 1.0 thousand tonnes
  • Farming Faroes 1.0 thousand tonnes
  • Total 97.0 thousand tonnes

In connection with the presentation of the Q4 2021 results, Mowi guided
total harvest volume of 98 thousand tonnes for Q1 2022.

Operational EBIT for the Group was approximately EUR 207 million in Q1 2022 (EUR 109 million in Q1 2021). Blended Farming cost per kg harvested was EUR 4.77.

Total Operational EBIT per kg through the value chain was approximately as follows:

  • Norway EUR 2.55
  • Scotland EUR 1.00
  • Chile EUR 1.25
  • Canada EUR 2.55
  • Ireland EUR 3.70
  • Faroes EUR 1.50

Operational EBIT in Consumer Products was EUR 21 million (EUR 32 million in Q1 2021) and Feed EUR -4 million in Q1 2022 (EUR -3 million in Q1 2021).

Reported financial net interest-bearing debt was approximately EUR 1 180 million at the end of the quarter.

The complete Q1 2022 report will be released on 11 May.


Related Articles