On the heels of recording a best-ever third-quarter Atlantic salmon harvest of 161,000 gutted weight tons (GWT), and with an overall 2024 harvest of 500,000 GWT almost a formality, Bergen, Norway-headquartered salmon-farming firm Mowi has issued a 2025 volume guidance of 520,000 GWT.
CEO Ivan Vindheim said the new guidance will put the company on course for its “next milestone” of 600,000 GWT, which it aims to reach in 2029.
Delivering Mowi’s Q3 2024 results in Bergen, Norway, on 6 November, Vindheim said that achieving 520,000 GWT next year would mean Mowi’s harvest volume had increased by 145,000 GWT since 2018. This, he said, would be equivalent to a 4.8 percent compound annual growth rate, compared to the industry’s average of 2.7 percent, with a record-high biomass in the sea of 329,000 live weight tonnage (LWF) supporting the increase.
“Mowi’s idiosyncratic growth continues and is still surpassing that of the wider industry by a large margin,” he said.
Alongside its best-ever Q3 volume, Mowi recorded record-high operational revenues of EUR 1.44 billion (USD 1.5 billion) in the period, up 6 percent from EUR 1.36 billion (USD 1.5 billion) a year previously. Its operational profit slipped 15 percent to EUR 173 million (USD 186 million), with lower prices offsetting the quarter’s increased volume and stable costs.
“This was another record-breaking quarter for Mowi in terms of top-line growth, and by extension, we have maintained our volume guidance of 500,000 GWT for this year, which would be a milestone achievement for us as it will be the first time in Mowi’s 60-year history that we’ve crossed this ‘magic 500,000-ton mark’ and is equivalent to a growth of 5.3 percent year over year,” Vindheim said.
According to Mowi’s Q3 2024 report, of the total volume harvested in the period ...
