During the presentation of Mowi’s first quarter 2022 report, CEO Ivan Vindheim commented salmon is a “fantastic product with great product features and the beneficiary of strong megatrends”. “I firmly believe this will continue to boost demand going forward,” he insisted.
The surge in salmon prices in all markets allowed the good data of Mowi’s first quarter. Due to an increased global demand combined with low supply. Besides, Mowi Farming’s results improved substantially in the quarter, driven by high prices.
Consequently, Vindheim said: “I am pleased to see that our Norwegian farming operations achieved record-high earnings and prices in the first quarter. It is also encouraging that our operations in Canada West are improving and delivering solid results.”
Furthermore, Mowi Consumer Products also delivered a good set of results. Regarding this, the CEO noted: “It is comforting that Mowi’s processing business continues to deliver strong results despite significantly higher raw material prices. This demonstrates the value of Mowi’s integrated value chain and the organization’s relentless quest for increased productivity and cost-efficiency.”
Despite the unprecedented inflationary pressure around the world nowadays, soaring salmon prices have so far more than offset increasing input prices for salmon. “We expect salmon to continue to stand out versus other animal protein sources. Due to its substantially lower feed conversion rate and energy usage, and its superior sustainability credentials,” Vindheim concluded.
Finally, Mowi’s Board has decided to pay a quarterly dividend of NOK 1.95 per share. This will consist of NOK 1.44 per share in ordinary dividends. Also, an extraordinary dividend of NOK 0.51 per share supported by a strong financial position and a favorable outlook.