Mowi ASA harvested 125,500 metric tons (MT) of gutted-weight equivalent (GWE) fish in the first-quarter of this year, some 42,500 MT more than in the corresponding period of last year, and well ahead of its previous Q1 2021 guidance of 116,000 MT.
According to the Bergen, Norway-headquartered group’s latest trading update, its Norwegian farm sites harvested 75,000 MT in the quarter, compared with 50,500 MT a year previously. Its Scottish operations, meanwhile, produced 18,500 MT in Q1, up from 9,000 MT in the corresponding period of last year.
Mowi’s farms in Canada and Chile harvested 10,500 MT and 19,500 MT respectively, compared with 8,000 MT and 14,000 MT previously, while its Irish and Faroese operations produced 1,000 MT each.
The group’s average farming cost per kg harvested in the three-month period was EUR 4.20 (USD 5.07).
The update estimated the quarter’s operational earnings before interest and taxes (EBIT) to be EUR 109 million (USD 131.5 million), which would be the same as Q1 2020. It also calculated the total operational EBIT per kg through the value chain at approximately EUR 1 (USD 1.21) for Norway, EUR 1.45 (USD 1.75) for Scotland, EUR -0.35 (USD -0.42) for Canada, EUR 0.40 (USD 0.48) for Chile, EUR 4.55 (USD 5.49) for Ireland, and 0.50 (USD 0.60) for the Faroes.
Operational EBIT in Mowi’s Consumer Products segment for the quarter was EUR 32 million (USD 38.6 million), while the Feed segment’s operational EBIT was EUR -3 million (USD -3.6 million).
Mowi’s complete Q1 2021 report will be released on 19 May.
Mowi harvested a record 439,829 MT of salmon in 2020, and posted an operational EBIT of EUR 337.7 million (USD 407.5 million).
Its full-year harvest guidance for 2021 is 445,000 MT.
Photo courtesy of Mowi
