Mowi posts record Q2 profit, improved harvest

Published on
July 15, 2019

Norway-headquartered Mowi ASA achieved operational earnings before interest and taxes (EBIT) of approximately EUR 208 million (USD 234.4 million) in the second-quarter of this year, up from EUR 175 million (USD 197.2 million) posted for the corresponding period of last year and eclipsing the record EUR 198 million (USD 223.2 million) for Q2 2017, according to the company’s latest trading statement.

In the last quarter, Marine Harvest’s salmon of Norwegian origin achieved an operational EBIT-per-kilogram of EUR 2.45 (USD 2.76), down from EUR 2.55 (USD 2.87) in Q2 2018. The operational EBIT for salmon of Canadian origin was also lower at EUR 0.85 (USD 0.96) per kilogram. Salmon of Scottish origin was up to EUR 2.90 (USD 3.27), while salmon of Chilean origin was unchanged at EUR 1.85 (USD 2.09) per kilogram in the quarter. Its salmon from Ireland and the Faroe Islands achieved the same per kg EBITs of EUR 2.65 (USD 2.99).

Overall, the group harvested 98,500 metric tons (MT) of gutted weight equivalent (GWE) salmon in the three-month period, which was ahead of its previous forecast of 98,000 MT. This total was also higher than the second-quarter 2018 harvest of 78,500 MT and Q2 2017’s 78,612 MT. 

Marine Harvest will publish its complete Q2 2019 results on 21 August.

Contributing Editor reporting from London, UK

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