© Mowi
Mowi, a Norwegian salmon farming company, has reported record-high operating revenues of €1.44 billion for Q3, translating into profits of over €170 million.
The salmon producer - which operates farms across countries such as Scotland, Canada, and Chile – has also achieved record-breaking harvest volumes, which indicate that the company’s harvest volume guidance for 2024, set at a staggering 500,000 tonnes, will be reached before the end of the year.
“This was yet another good quarter for Mowi, with our best ever seawater production and harvest volumes of 161,000 tonnes. We’ve never had more fish in the sea, with biomass in sea up 4.4 percent year-on-year at quarter end,” said Mowi CEO Ivan Vindheim, in a press release.
“It is a privilege to work in an organisation that is always striving to improve and take the company to the next level. We aim to continue growing faster than the wider industry, by expanding our use of postsmolt and through increased smolt release. We expect another year with limited supply growth for the wider industry at 2 percent or lower,” Vindheim added.
Mowi Consumer Products, the group’s value-added business, also delivered record-high results in the third quarter on good operational performance, strong volumes and seasonally lower raw material prices.
“We see good retail demand for our products, and expect demand in the restaurant sector to improve as consumer purchasing power increases fuelled by falling interest rates and rising wages,” Vindheim concluded.
