Record-breaking quarter ends a record year for Mowi

Last month we announced our results for Q4, bringing a record year to a close. Globally, revenue was EUR 5.62 billion on 502,000 tonnes of salmon harvested. A harvest volume of 134,000 tonnes in the fourth quarter was itself a seasonal record.

In Scotland, the operating profit was EUR 110.6 million, including EUR 23.2m in Q4. Our harvest volume also increased to 16,953 GWT in Q4 as a result of good production and lower mortality.

Speaking about Mowi’s performance in 2024, Mowi CEO Ivan Vindheim said: “I am extremely pleased that we have continued to deliver on our strategy and our goals, and I am impressed with the way the organisation was once again able to produce both record volumes and record revenues in 2024. Our margins show that we were once again competitive on cost in 2024, which is vitally important in salmon farming. Falling feed prices have also contributed to somewhat reduced costs, and we expect that trend to continue in 2025.”

To read more about Mowi’s results click here.

Scottish salmon exports hit record high

Also in February, HMRC published figures confirming that Scottish salmon remains the top UK food export.

International sales of Scottish salmon rose to a record high of £844 million, up by 45 per cent on the previous year, with exports sent to 48 countries.

Massive growth of over 60 per cent was recorded in Asian markets, particularly China and Taiwan, with Scottish salmon globally recognised for its superior quality.

France remains the top market, accounting for 55 per cent of total value of all Scottish salmon exports, followed by the United States (27 per cent).

On the back of this news, Mowi Scotland hosted STV News at our processing facility at Blar Mhor, where Mowi’s Sales and Operations Director Scott Nolan described the growing global consumer demand for Scottish salmon. The piece, which aired on the primetime News at Six programme, also showcased our state-of-the-art facility which has almost completed its multimillion-pound transformation where 200 fish per minute can be processed and packed.