Mowi posts higher Q1 earnings on strong operational performance, maintains 2025 guidance.
Mowi reported operating revenues of €1.36 billion ($1.47 billion/NOK 15.8 billion) in the first quarter of 2025, generating operational EBIT of €214 million ($231 million/NOK 2.48 billion), the company announced on Wednesday.
The result was supported by improved biological performance, higher harvest volumes, and lower costs across the value chain. Harvest volumes totalled 108,000 tonnes, up 12 percent compared with the same period last year. Mowi maintained its full-year harvest guidance of 530,000 tonnes, equivalent to 6 percent annual growth.
“So far, 2025 has been a very good year operationally and biologically which has resulted in high harvest volumes combined with seasonally record-high biomass in sea,” said CEO Ivan Vindheim.
Mowi said biomass in sea grew 11 percent year-on-year, supporting volume growth expectations. The company expects to reach 600,000 tonnes in 2026, factoring in its agreement to increase ownership of Nova Sea from 49 percent to 95 percent.
Mowi’s Consumer Products division reported strong results in the quarter, supported by high volumes and improved downstream earnings across Europe, the Americas, and Asia.
Vindheim noted that global supply growth of 8 percent—13 percent in Europe—put pressure on prices but said the growth was a correction following several years of biological challenges.
Mowi Feed also delivered record first-quarter earnings and sales volumes.
The board approved a quarterly dividend of NOK 1.70 ($0.16/€0.15) per share.
Mowi is the world’s largest producer of farm-raised Atlantic salmon, with expected 2025 production from seven countries including Norway, Scotland, Ireland, the Faroes, Iceland, Canada, and Chile.