Mowi experimented during the second quarter of 2022 with a record-high operational profit of 320 million euros and record-high revenue of 1,232 million euros. All are driven by good operations and high salmon prices. Also, its financial results were driven by good harvest volumes of which 65% were sold into the spot market.
Besides, the operational EBIT of EUR 320 million reported corresponds to more than double from last year. Further, the total harvest volume was 102.679 tonnes of gutted weight, slightly above the guidance of 99 000 tonnes.
Regarding this fact, Mowi CEO Ivan Vindheim said: “We have never before experienced spot prices at the levels seen in the second quarter. This shows the potential to continue to increase the value of the salmon category over time given continued supply growth.”
“I am impressed with our farming operations this quarter, with good growth performance in sea and improved production. Mowi Norway stands out in particular, representing 70% of group profit with an impressive margin,” he added.
Finally, Mowi Farming saw a new record too with an operational profit of EUR 294 million. Mowi’s Board has decided to pay a quarterly dividend of NOK 2.30 per share. Supported by a strong financial position and a favorablee outlook.
“Overall retail demand still remains at a good level and I expect that the retail channel will continue to grow in the years ahead. The foodservice segment continues its post-pandemic recovery which is positive for overall salmon demand,” Vindheim concluded.