Bergen, Norway-headquartered salmon-farming firm Mowi harvested around 133,500 metric tons (MT) of gutted weight (GWT) farmed salmon in the last quarter of 2024, which was over 4,000 MT more than in the corresponding period of the previous year and 1,400 MT ahead of the forecast the company made for the period in Q3 2024.
The Q4 volume contributes to a record full-year harvest of 502,000 MT, overhauling Mowi’s previous best of 475,000 MT, delivered in 2023, and inching closer toward its goal of hitting 600,000 MT annually by 2029.
According to the group’s latest trading update, in Q4 2024, the firm’s Farming Norway operations harvested 83,500 MT (up from 81,000 MT in Q4 2023), Farming Scotland – which suffered biological issues in the quarter – harvested 17,000 MT (up from 10,500 MT in Q4 2023), Farming Chile harvested 22,500 MT (down 5,000 MT), Farming Canada harvested 5,000 MT (up 1,000 MT), Farming Ireland harvested 1,000 MT (no harvest was reported for Q4 2023), Farming Faroes harvested 1,000 MT (down 2,500 MT), and Farming Iceland (Arctic Fish) harvested 3,500 MT (up 1,000 MT).
For the full year 2024, Mowi is expecting to confirm a 304,000 MT harvest from Norway, 66,000 MT from Scotland, 73,000 MT from Chile, 30,000 MT from Canada, 9,000 MT from both Ireland and the Faroes, and 11,000 MT from Iceland.
The update estimates Mowi’s operational EBIT to be approximately EUR 226 million (USD 232.6 million) for the quarter, representing an increase of around EUR 23 million (USD 23.7 million) compared to the corresponding period of 2023, when it reported an EBIT of EUR 203 million (USD 208.9 million).
The Q4 2024 operational EBIT recorded for Mowi’s Consumer Products segment was around EUR 53 million (USD 54.5 million), which was EUR 15 million (USD 15.4 million) more than in the same period of 2023. Its operational EBITDA for its Feed business was EUR 21 million (USD 21.6 million), which was EUR 5 million (USD 5.1 million) up on the previous year.
Mowi’s complete Q4 2024 report will be released on 12 February 2025.
Elsewhere in the fourth quarter of 2024, Ole-Eirik Lerøy, the firm’s chairman, stepped down from the board after 15 years with the company.
“The company is stronger than ever, the outlook sound, and the timing right, to pass the relay baton. I look forward to seeing it grow and develop in the future,” Lerøy said at the time.
More recently, the firm announced it is shutting down one of its Scottish farms after 35 years in operation after failing to secure a lease extension.
