Mowi Scotland records strong first half results on improved biology.
Mowi Scotland has reported solid results for the first half of 2025, with Q2 performance supported by improved fish health and lower costs.
Operational EBIT for the division amounted to €31.3 million ($34.2 million), equivalent to €1.29 ($1.41) per kilo, compared with €43.6 million ($47.6 million) or €2.22 ($2.42) per kilo in Q2 2024. Higher harvest volumes and reduced costs were partly offset by weaker spot prices.
Ben Hadfield, COO for Mowi Scotland, Ireland, Faroes & Canada East, said: “Our costs decreased from the comparable quarter in 2024 on the back of good biological performance, lower realised feed prices and reductions in other expense items. As a farming company we know that focusing on improving fish survival, welfare and product quality will ultimately lead to excellent financial results, and we are now seeing the benefits of this.”
Fish health improvements
The company reported its best fish health for the first six months of any year since 2019, citing reduced mortality, lower sea lice levels, better gill infection treatment, fewer bacterial issues, improved feed conversion ratios and higher average harvest weights.
Mowi highlighted the impact of its post smolt strategy, with the first harvest completed within 11 to 14 months at sea, avoiding a second summer of warm-water challenges. The approach builds on the company’s use of Loch Etive, acquired from Dawnfresh in 2023.
Investment programme
A new broodstock hatchery at Ardessie, near Ullapool, is due to become operational later this year. The facility will enable Mowi to supply all of its own eggs from locally grown broodfish.
The company has also invested in a 6,000m³ wellboat, expected to arrive in October, which will be the largest in Scotland. The vessel is intended to strengthen freshwater treatment capacity and support parasite and gill disease control.
Mowi Scotland employs 1,600 staff across the Highlands and Fife.
