The world’s largest producer of farmed Atlantic salmon, Mowi, has announced record-high harvest volumes for Q3 2024.
The salmon farmer recorded a harvest of 161,000 gutted weight tonnes (GWT), exceeding its previous guidance of 159,500 GWT provided during the Q2 2024 results presentation.
The harvest breakdown includes 106,000 tonnes from Norway, 15,000 tonnes from Scotland, 23,000 tonnes from Chile, and smaller contributions from Canada, Ireland, the Faroes, and Iceland.
The Group’s operational EBIT for the quarter was approximately EUR 173 million (NOK 2,035 million), with a blended farming cost of EUR 5.72 per kg—an improvement from the EUR 5.84 per kg recorded in Q2 2024. Notably, this cost remains largely in line with the EUR 5.73 per kg recorded in Q3 2023.
Operational EBIT per kg varied by region, with Norway achieving EUR 1.40, Ireland EUR 1.20, Scotland EUR 0.85, and Chile EUR 0.60. Canada posted a negative EBIT of EUR -0.55 per kg, with Canada East seeing a positive EUR 0.64 per kg.
Operational EBIT for Mowi’s Consumer Products segment totaled EUR 43 million, while the Feed segment reported an operational EBITDA of EUR 25 million for the quarter. The Group’s reported net interest-bearing debt (NIBD) stood at approximately EUR 1.77 billion, excluding IFRS 16 effects.
The full Q3 2024 report will be released on 6 November 2024.
