Mowi, the largest producer of farm-raised salmon in the world, on August 21 posted an operational EBIT of EUR 211 million for the second quarter of 2019, compared to EUR 175 million in the corresponding quarter of 2018.
“This was a good quarter for us, with a 26% increase in farming volumes year-over-year and an overall solid operational performance. The costs decreased in the farming operations, and sales of both feed and value-added products were record-high,” said Alf-Helge Aarskog, chief executive officer of the Bergen, Norway-headquartered company formerly known as Marine Harvest.
Pleased with the good results, a strong market outlook, and a solid financial position, the board of directors has decided to pay a quarterly dividend of NOK 2.60 per share.
Operational revenues amounted to EUR 1,021 million, compared to EUR 888 million generated during the second quarter of 2019. Total harvest volume was 98,483 tons (vs. 78,346 in 2918). Harvest guidance for 2019 is unchanged at 430,000 tons.
Salmon of Norwegian origin achieved an operational EBIT per kilo of EUR 2.45 (2.56) in Q2, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of EUR 2.92 and EUR 0.83, respectively (vs. EUR 2.38 and EUR 0.98 in 2018). Salmon of Chilean origin reported operational EBIT per kilo of EUR 1.87 in the quarter (compared to EUR 1.86 the year before).
Mowi Feed logged an operational EBIT of EUR 3.0 million (vs. EUR 0.8 million in Q2 2018). The Consumer Products division reported an operational EBIT of EUR 4.9 million (vs. EUR 12.0 million).
Following a self-sufficiency strategy on feed, Mowi Feed continues to develop its range of products, including fresh water, organic and cleaner fish diets.
“Our new feed plant in Scotland started trial production in May, and has recently started to produce and deliver feed to our Scottish farming operations,” said Aarskog. “This is an important step towards self sufficiency of feed and further integration of the value chain. It is particularly encouraging that we have increased production capacity from 170,000 tons to 240,000 tons.”
As the first global seafood company with an end-to-end supply chain, Mowi’s has ownership of every stage of production. The company employs over 14,500 people in 25 countries and is listed on the Oslo Stock Exchange.
