Mowi achieves EUR 240 million in Q3 2022

Mowi achieves EUR 240 million in Q3 2022

Mowi got an operational EBIT of approximately EUR 240 million in the third quarter of 2022. During the same quarter last year, it achieved EUR 131 million.

In more detail, the company harvested a total of 134,000 tonnes of salmon in the quarter, distributed as follows:

Norway: 87,500 tonnes
Scotland: 14,500 tonnes
Chile: 17,000 tonnes
Canada: 11,000 tonnes
Ireland: 2,000 tonnes
The Faroe Islands: 2,000 tonnes

On the other hand, the total Operational EBIT per kg through the value chain was approximate as follows:

Norway: €2.55
Scotland: €0.30
Chile: €1.25
Canada: -€0.35 (Canada West: €0.80)
Ireland: -€1.20
Faroe Islands: €1.05

Operational EBIT in Consumer Products was EUR 30 million (EUR 22 million in Q3 2021) and Feed EUR 15 million in Q3 2022 (EUR 10 million in Q3 2021). Farming in Scotland and Ireland were negatively impacted by environmental issues related to micro-jellyfish; incident-based mortality was EUR 0.5/kg in Scotland and EUR 3/kg in Ireland.

In addition, the reported financial net interest-bearing debt (NIBD) was approximately EUR 1 355 million at the end of the quarter (excluding IFRS 16 effects).

The complete Q3 2022 report will be released on 9 November at 06:30 CET.

About Mowi ASA

Mowi ASA is one of the largest seafood companies in the world and the world's largest producer of Atlantic salmon. It has worked with the same strain of salmon since its beginnings in 1964.

The company has its breeding and genetics department. The strategy is to produce own eggs to secure the selection of the best genetic properties.

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