Mowi harvested 117,000 metric tons (MT) of salmon in the third-quarter of this year, representing a volume rise of 7,000 MT compared to the corresponding period of 2018.
According to the salmon company’s latest trading update, its Norwegian operations harvested 63,500 MT of gutted weight equivalent (GWE) salmon in the last quarter, down from 71,500 MT in Q3 2018. But this decrease was offset by higher Scottish, Canadian and Chilean harvests of 19,500 MT, 16,000 MT and 14,000 MT, respectively.
A further 2,000 MT was harvested in Ireland, which was on par with with the previous year, while the company’s Faroese operations also contributed 2,000 MT (up from 1,500 MT).
The Norway-headquartered producer achieved operational earnings before interest and taxes (EBIT) of EUR 146 million (USD 161 million) in the last quarter, down from EUR 207 million (USD 228.3 million) in Q3 2018, EUR 194 million (USD 213.9 million) in Q3 2017, and EUR 180 million (USD 198.5 million) in in the corresponding quarter of 2016.
“Net negative one-offs in Mowi Canada have impacted operational EBIT by approximately EUR 5 million (USD 5.5 million) in Q3 2019,” stated the update.
Mowi’s salmon of Norwegian, Scottish, and Canadian and Chilean origin achieved operational EBITs of EUR 1.65 (USD 1.82), EUR 1.35 (USD 1.49), EUR 0 (USD 0), and EUR 1.30 (USD 1.43) per kg, respectively, in the quarter.
Operational EBITs of its salmon from Irish and Faroese origin for the same period amounted to EUR 1.10 (USD 1.21) and EUR 1.40 (USD 1.54), respectively.
The trading update also stated that the reported net interest bearing debt (NIBD) was approximately EUR 1.23 billion (USD 1.4 billion) at the end of the quarter.
Mowi’s complete Q3 2019 report will be released on 30 October.
Photo courtesy of Mowi
