Mowi reported record fourth-quarter revenues of €1.59 billion and operational EBIT of €213 million, closing 2025 with the highest revenues and harvest volumes in the company’s history.
For the full year, Mowi posted revenues of €5.73 billion and operational EBIT of €727 million, with a return on capital employed of 13.3%. Harvest volumes reached 559,000 tonnes in 2025, up 11.4% year on year. Fourth-quarter harvest volumes totalled 152,000 tonnes, a seasonal record.
Salmon prices increased during the fourth quarter after a year characterised by low pricing and high global supply growth of around 12%. Mowi said costs in its farming segment fell by €197 million in 2025 and are expected to decline further in 2026.
Mowi expects to harvest 605,000 tonnes in 2026, corresponding to growth of 8.3%, compared with expected industry growth of around 1%. The company said it currently has 8.7% more fish in the sea than at the same time last year.
“2025 marked yet another record harvest year for Mowi and we expect to continue down this path,” said Ivan Vindheim.
Mowi Consumer Products, the group’s downstream processing division, delivered operational EBIT of €197 million in 2025 on record-high volumes of 265,000 tonnes product weight.
Mowi Feed also reported record revenues, with earnings of €67 million on volumes of 585,000 tonnes for the full year.
During the fourth quarter, Mowi entered into a strategic partnership with Skretting, owned by Nutreco. The agreement is expected to deliver at least €55 million in annualised net cost savings.