Strong results on good demand for Mowi in the first quarter

(Oslo, 7 May 2019) Mowi achieved an operational EBIT of EUR 196 million in the first quarter of 2019, compared to EUR 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.

Mowi reported operational revenues of EUR 979 million (EUR 862 million) in the first quarter of 2019. Total harvest volume was 104 118 tonnes (81 212) in the quarter. Harvest guidance for 2019 is unchanged at 430 000 tonnes.

Salmon of Norwegian origin achieved an operational EBIT per kilo of EUR 2.07 (2.26) in the first quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of EUR 2.27 and EUR 1.41 respectively (EUR 1.85 and EUR 1.10). Salmon of Chilean origin reported operational EBIT per kilo of EUR 1.47 in the quarter (EUR 1.36). Mowi Feed reported an operational EBIT of EUR -2.4 million (EUR -4.3 million). Mowi Consumer Products reported an operational EBIT of EUR 5.8 million (EUR 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 MOWI 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.

The report and other documents are available here.