Mowi has informed through a trading update, that it has almost doubled its operational earnings in the first quarter of 2022. The reason for this is that farmed salmon prices were still increasing during the start of the year.
Thereby, operational earnings before interest and taxes (EBIT) were approximately €207 million ($224.2 million) up 90% compared with €109 million ($118.1 million) in the same period last year.
Although, Operational EBIT for its Consumer Products division came in at €21 million ($22.7 million), 34% lower than the €32 million ($34.7 million) in 2021.
Finally, the group confirmed it harvested a total of 97,000 metric tons over the period. 59,500 from its Norwegian operations; Scotland 10,500 metric tons; Chile 16,000 metric tons; Canada 9,000 metric tons; Ireland 1,000 metric tons and Faroes 1,000 metric tons.
In addition to this, high revenues and harvest volumes marked the end of 2021 for the company as we informed in February.