EUR 213 million operational EBIT for Mowi in Q4

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Mowi achieved an operational EBIT of EUR 213 million in the fourth quarter of 2018, compared to EUR 181 million in the corresponding quarter of 2017.

For the full year, Mowi made an operational EBIT of EUR 753 million. This is the second-best year ever financially for the Group. Mowi achieved an operational revenue of EUR 1,074 million in the quarter and EUR 3,815 million for 2018. Full-year turnover is record high for the group.

Harvested 105,783 tonnes of salmon
The Board of Directors has resolved to pay a quarterly dividend of NOK 2.60 (EUR 0.27) per share, supported by good results, a strong market outlook, and a solid financial position.

“2018 was a very good year for Mowi. Strong demand for salmon and high prices in all markets resulted in great earnings for the company. I am proud of all my colleagues who work hard to produce healthy and tasty seafood for consumers all over the world. They have all contributed to the strong results”, says CEO Alf- Helge Aarskog.

Mowi reported operational revenues of EUR 1,074 million (EUR 1,010 million) in the fourth quarter of 2018. Total harvest volume was 105,783 tonnes in the quarter (112,628). Harvest guidance for 2019 is 430,000 tonnes.

EUR 61 million of savings achieved
Salmon of Norwegian origin achieved an operational EBIT per kilo of EUR 2.44 (1.77) in the fourth quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of EUR 2.32 and EUR 1.42 respectively (EUR 1.19 and EUR 0.98). Salmon of Chilean origin reported operational EBIT per kilo of EUR 1.25 in the quarter (EUR 1.03).

Mowi Feed reported an operational EBIT of EUR 5.8 million (EUR -2.8 million), Mowi Consumer Products reported an operational EBIT of EUR 38.0 million (EUR 29.1 million).

“I wish to commend the organization for the EUR 61 million of savings achieved in the 2018 cost improvement program. This will continue into 2019 with a new EUR 30 million global cost and procurement improvement program”, says Aarskog.

Starting 2019 by changing the company-name to Mowi and launching a new brand strategy, the CEO believes this will be an exciting year for the company. “We look forward to introduce the MOWI brand in selected markets. I am confident that this will transform the company over time”, says Aarskog.