Record-high revenues and volumes for Mowi in the second quarter

Mowi ASA, Mowi Scotland’s parent company, achieved record-high revenues of EUR 1.6 billion and operational EBIT of EUR 231 million in the second quarter of 2026.

The results were driven by strong biological and operational performance, as well as record-high harvest volumes. Combined with lower costs, this resulted in operational EBIT of EUR 231 million, an increase of 23% compared with the corresponding quarter in 2025.

Mowi Scotland’s operational and financial performance was strong in the second quarter, supported by first-rate biological performance and record harvest volumes.

Operational EBIT for Scotland was EUR 48.1 million in Q2 2026, up from EUR 31.3 million in Q2 2025. On a per kg basis, operational earnings were EUR 1.80 per kg. The increase from EUR 1.29 per kg in the comparable quarter was driven by higher achieved prices and lower cost, in addition to somewhat higher volumes.

Biological conditions were very strong in the quarter for Mowi Scotland. Seawater production, survival rate, feed conversion ratio and superior share all improved from Q2 2025. Improved biology and a significant increase in survival rates can be partly attributed to the ongoing success of post smolt stocking from salmon initially reared in Loch Etive.

“Farming operations continue to deliver very strong biological and operational results. In particular, our Norwegian and Scottish operations are performing strongly, with record volumes and reduced costs, which is very encouraging,” said Mowi CEO Ivan Vindheim.

Mowi ASA delivered a seasonally record-high 150,000 tonnes of salmon in the second quarter, representing a year-on-year increase of 7.4%.

“It is gratifying to see that we continue to deliver on our growth strategy. Volume growth is one of Mowi’s strategic pillars, and growth within our farming operations has been strong in recent years. In just a few years, Mowi has grown from a 400,000-tonne producer to a 600,000-tonne producer,” continues Vindheim.

Following a period of low salmon prices due to exceptionally high industry supply, salmon prices increased by 6% in the second quarter and have increased by 21% so far in the third quarter compared with 2025, driven by strong demand across many markets and a normalisation of supply growth in the industry.

Mowi Consumer Products, the Group’s downstream processing business, which UK’s operations are based in Rosyth, Fife, delivered another strong quarter with seasonally record-high revenues, supported by solid operations and record-high volumes of 74,000 tonnes, up 14% from the same period last year.

“The salmon market continues to develop positively and demand value increased by 9% in the second quarter compared with the same period last year. Growth is strongest in Asia, led by China, but developments are also positive in Europe, followed by the USA. We expect market growth to continue through 2026 and beyond, driven by megatrends such as healthier lifestyles, increasing demand for sustainable protein sources, and not least salmon’s unique and broad appeal,” said Vindheim.

Mowi Feed, the Group’s feed division which delivers out of Valsneset, Norway, and Kyleakin, Isle of Skye, also delivered a record quarter with seasonally record-high revenues and sales volumes, driven by strong growth in the company’s farming operations.

Click here to read the Q2 2026 report in full.