Mowi ASA harvested 97,000 metric tons (MT) of gutted-weight equivalent (GWE) Atlantic salmon in the first quarter of 2022, some 28,500 MT more than in the corresponding period of 2021 and slightly lower than the 98,000 MT guidance provided with its fourth-quarter results.
According to the Bergen, Norway-headquartered group’s latest trading update, its Norwegian farm sites harvested 59,500 MT in the quarter, compared with 75,000 MT a year previously. Its Scottish operations, meanwhile, produced 10,500 MT in Q1, down from 18,500 MT in the corresponding period of last year.
Mowi’s farms in Canada and Chile harvested 9,000 MT and 16,000 MT, respectively, compared with 10,500 MT and 19,500 MT previously, while its Irish and Faroese operations produced 1,000 MT each – the same as Q1 2021.
The group’s blended farming cost per kilogram harvested in the three-month period was EUR 4.77 (USD 5.17), up from EUR 4.20 (USD 4.55) a year previously.
The update estimated the quarter’s operational earnings before interest and taxes (EBIT) to be around EUR 207 million (USD 224.2 million), which would be EUR 98 million (USD 106.2 million) more than in Q1 2021.
It also calculated the total operational EBIT per kilogram through the value chain at approximately EUR 2.55 (USD 2.76) for Norway, EUR 1.00 (USD 1.08) for Scotland, EUR 2.55 for Canada, EUR 1.25 (USD 1.35) for Chile, EUR 3.70 (USD 4.01) for Ireland, and 1.50 (USD 1.62) for the Faroes.
Operational EBIT in Mowi’s Consumer Products segment for the quarter was EUR 21 million (USD 22.7 million), down EUR 11 million (USD 11.9 million), while the Feed segment’s operational EBIT sunk deeper into negative territory, with a loss of EUR 4 million (USD 4.3 million), compared to a loss of EUR 3 million (USD 3.2 million) in Q1 2021.
Mowi’s complete Q1 2022 report will be released on 11 May.
Mowi harvested an all-time-high 465,500 MT of salmon in 2021, and posted record revenues of EUR 4.2 billion (USD 4.5 billion). Its full-year harvest guidance for 2022 is 460,000 MT.
Photo courtesy of DS Smith
