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Scots salmon proves most profitable for Mowi's Q1

7 May 2019, at 9:00am

Mowi’s Scottish salmon farming operations were the group’s most profitable in the first quarter of the year.

The operational EBIT/kg for their salmon of Scottish origin rose to €2.27 while the figure was €2.07 in Norway, €1.41 in Canada and €1.47 in Chile, according to the group's Q1 report, which was published this morning.

Mowi Scotland's Lochboisdale site
Mowi Scotland's Lochboisdale site

© Mowi

Overall, Mowi achieved an operational EBIT of €196 million, compared to €158 million in the corresponding quarter of 2018.

"Demand for our products remains strong and has resulted in high prices in all markets. Good operational performance and seasonally record high harvest volumes, have also contributed to good results for the group,” says Mowi CEO, Alf-Helge Aarskog.

Mowi's Board of Directors has resolved to pay a quarterly dividend of NOK 2.60 per share, supported by good results, a strong market outlook, and a solid financial position.

Total harvest volume was 104,118 tonnes (81,212) in the quarter. Harvest guidance for 2019 is unchanged at 430,000 tonnes.

Mowi Feed reported an operational EBIT of €-2.4 million (€ -4.3 million). Mowi Consumer Products reported an operational EBIT of €5.8 million (€21.9 million).

The Mowi brand was launched for the first time in the first quarter in Poland. The launch was in some of the world's largest retail chains. In relation to the launch Mowi has introduced a consumer website, www.mowisalmon.com, dedicated to the brand.

"The launch in Poland is only the beginning of the Mowi adventure. It will be a good test market for further roll-outs in other selected markets", says Aarskog.

 

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