Mowi Scotland reports doubled harvest for Q1

Mowi Scotland more than doubled its harvest output and operating EBIT during the first three months of this year, a Q1 trading update from the company today shows.

The Scottish division produced 18,500 tonnes of salmon between January and March, compared to just over 9,000 tonnes in the same period in 2020, when the business was experiencing some prolonged biological issues.

The Scotland EBIT per kilo averaged out at €1.45 against  €0.65 per kilo last year.

The Q1 group-wide operating EBIT is estimated at €109m, about the same as in Q1 last year. The group’s global Q1 harvest at 125,500 tonnes is at least 9,000 tonnes higher than predicted a few months ago and represents  an increase of 43,000 tonnes over Q1 2020.

Mowi’s Norwegian business produced 75,000 tonnes, up by almost 25,000 tonnes; Canada produced 10,500 tonnes against 8,000 tonnes last year while output from Chile this quarter totalled 19,500 tonnes against 14,000 tonnes. Farming Faroes produced 1,000 tonnes.

Mowi Ireland, which operates in five counties on the country’s west coast, also produced 1,000 tonnes but its operational EBIT at €4.55 per kilo was by far the highest within the group.

The operational EBIT for Norway is €1.00 per kilo; €0.40 per kilo for Chile; €0.50 per kilo for the Faroe Islands and a loss of -€0.35 per kilo for Canada, where the company is fighting an order to close some of its farms in British Columbia.

Mowi said the operational EBIT in consumer products was €32m but feed has shown a loss of -€3m. The full Q1 2021 report will be published on 19 May.