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Scots sites top Mowi profits in Q2

16 July 2019, at 4:00am

The world's largest salmon farming firm has reported that Scotland was its most profitable salmon farming location in the second quarter, with 16,000 tonnes harvested at an EBIT of €2.90 per kilo.

The preliminary Q2 report, released by the world’s largest salmon producer this week, shows that, total operational EBIT per kg through the value chain was approximately as follows:

  • Norway €2.45
  • Scotland €2.90
  • Canada €0.85
  • Chile €1.85
  • Ireland €2.65
  • Faroes €2.65
Mowi Scotland's Lochboisdale site
Mowi Scotland's Lochboisdale site

© Mowi Scotland

Overall, Mowi harvested 98,500 tonnes gutted weight equivalent, 500 tonnes more than forecast in its Q1 report. The Norway-headquartered firm's Q2 harvest figures (in tonnes) were:

  • Farming Norway 51,500
  • Farming Scotland 16,000
  • Farming Canada 12,500
  • Farming Chile 15,000
  • Farming Ireland 2,000
  • Farming Faroes 1,500

The group’s operational EBIT was approximately €208 million, up from €175m in the same period last year.

The company said that a restructuring provision of €19 million for industrial and social reorganisation related to the rebuilding of the Kritsen smokehouse in Landivisiau, France would impact financial EBIT in the second quarter.

The complete Q2 report will be released on August 21.