Mowi reports record harvest for Q3
Salmon giant Mowi produced an all-time high third quarter harvest of 161,000 tonnes with profitability in Scotland continuing to improve. The figure is 26,000 tonnes higher than a year ago.
The main and most significant improvement was at Mowi’s Norwegian farms with the Scottish harvest between July and September unchanged at 15,000 tonnes.
Mowi also announced an operational EBIT or operational profit of €173m (£87.3m), against €203m (£102m) 12 months ago.
The regional harvest breakdown is as follows (Q3 2023 figures in brackets):
- Farming Norway 106,000 tonnes ( 86,000 tonnes).
- Farming Scotland 15,000 tonnes (15,000 tonnes).
- Farming Chile 23,000 tonnes (17.500 tonnes)
- Farming Canada 7,000 tonnes (7,500 tonnes)
- Farming Ireland 3,500 tonnes ( 2,000 tonnes)
- Farming Faroes 3,000 tonnes (2,500 tonnes)
- Farming Iceland 3,500 tonnes (4,500 tonnes).
The harvest volumes are all provided in gutted weight equivalents (GWT).
The blended farming cost was €5.72 per kg (£4.77) in the quarter which represented an improvement of €0.12 per kg from €5.84 per kg (£4.87) in the second quarter.
Mowi has also given a regional breakdown of the group’s EBIT per kilo during the quarter and the details (Q3 2023 figures in brackets) are:
- Norway €1.40 (€2.15)
- Scotland €0.85 (€0.65)
- Chile €0.60 (€0.50)
- Canada -€0.55 (-€0.60). Eastern Canada was positive at €0.64
- Ireland €1.20 (€0.80)
- Faroes €0.60 (€1.90)
- Iceland €0.40 (€0.15)
The Q3 Operational EBIT in Consumer Products was €3m (£2.5m) while the operational EBITDA in Feed was €5m (£4.17) in Q3 2024.
The complete Q3 2024 report will be released on 6 November.
