Mowi reports strong Q2 performance, high revenue and profit, with focus on sustainable growth.

From Globe Newswire: 2024-08-21 00:30:00

Mowi reported revenues of 1.34 billion euros and an operating profit of 230 million euros in the second quarter, driven by strong operational performance, record-high harvest volumes, and reduced costs. CEO Ivan Vindheim highlighted record salmon harvests, 9.4% higher fish in the sea, and a growth target of 500,000 tons for 2024.

Mowi’s strategic focus on volume growth is expected to outpace industry growth significantly in 2024, with an annual growth rate of 5.3% compared to 0.8% for the rest of the industry. The company aims to continue this growth post-2024 through increased use of postsmolt and higher smolt release globally.

Recognized for sustainability efforts, Mowi was named one of the world’s 500 most sustainable companies in 2024 by TIME Magazine. The company has also been awarded as the world’s most sustainable protein producer for five consecutive years by Coller FAIRR, emphasizing their commitment to sustainable practices.

Mowi Consumer Products saw an increase in earnings in the second quarter despite challenges in the American market and margin pressure in Europe due to high raw material prices. However, there is strong demand for European salmon, and an anticipated improvement in US salmon demand as the economy recovers.

Mowi Feed, the company’s feed production arm, delivered a strong quarter with record volumes and earnings, contributing to high growth in aquaculture operations. Mowi’s board declared a dividend of 1.70 Norwegian kroner per share for the second quarter, indicating a positive outlook for the company’s performance.



Read more at Globe Newswire:: Mowi med god drift i andre kvartal