Norway-based Mowi ASA posted operational earnings before interest and taxes (EBIT) of approximately EUR 320 million (USD 324.1 million) for the second quarter of this year, some EUR 183 million (USD 185.4 million) more than in the corresponding period of 2021.
The latest EBIT was significantly higher than the Q2 record of EUR 211 million (USD 213.7 million) achieved in 2019.
According to the salmon farming group’s latest trading statement, its salmon of Norwegian origin achieved an operational EBIT-per-kilogram of EUR 3.95 (USD 4.00) in the last quarter, up from EUR 1.65 (USD 1.67) in Q2 2021.
The operational EBITs for salmon of Scottish, Canadian, Chilean, Irish, and Faroese origin were also improved at EUR 1.60 (USD 1.62), EUR 3.00 (USD 3.04), EUR 1.05 (USD 1.06), EUR 2.80 (USD 2.84), and EUR 5.80 (USD 5.88) per kilogram respectively.
Overall, the group harvested 103,000 metric tons (MT) of gutted weight equivalent (GWE) salmon in the three-month period, which was 4,000 MT ahead of its previous forecast. But the total was lower than the second-quarter 2021 harvest of 108,000 MT, and Q2 2020’s 104,000 MT.
In terms of Mowi’s production regions, Norway harvested 60,000 MT, Scotland 13,000 MT, Canada 10,500 MT, Chile 14,500 MT, Ireland 3,500 MT, and the Faroes 1,500 MT.
The Q2 2022 operational EBIT in Mowi’s consumer products segment was EUR 18 million (USD 18.2 million), up EUR 2 million (USD 2.03 million) on Q2 2021, while the feed division’s operational EBIT was down 50 percent to EUR 2 million.
Its reported financial net interest-bearing debt (NIBD) was approximately EUR 1.24 billion (USD 1.3 billion) at the end of the quarter (excluding IFRS 16 effects).
Mowi will publish its complete Q2 2022 report on 24 August.
Photo courtesy of Mowi
