466,000 tonnes of salmon harvested last year says Mowi as it announces €72 million dividend

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The fourth quarter marked the end of a record year for Mowi with revenues of €4.2 billion and harvest volumes of 466,000 tonnes, which represents 12 per cent and six per cent growth, respectively. The company also sold a record 248,000 tonnes of further processed products last year.

The positive development in demand for salmon continued in the fourth quarter of 2021 with significantly higher prices than the year before. This resulted in a triple operating profit for Mowi of €146 million in the quarter.

“I would like to thank all my 12,000 colleagues in Mowi for their efforts in a demanding pandemic year,” said CEO of Mowi, Ivan Vindheim, in a statement.

Utilize the licenses better
In Norway, Mowi’s largest and most important farming country, the company produced a record 273,000 tonnes of salmon in 2021.

“It is very gratifying that we are able to utilize our licenses in Norway better than before and better than the industry average. This has laid the foundation for our record-high volumes in 2021 of 466,000 tonnes,” said Vindheim.

Ivan Vindheim, CEO of Mowi. Photo: Elisabeth Nodland

Mowi also produced more processed products than ever before in 2021, and the development in the grocery market continues to be strong.

No supply growth
“The strong demand for further processed products has been impressive during the pandemic, and levels remain high. The price development for salmon in the future looks positive with expectations of no supply growth this year. Mowi is well positioned to take part in this with its integrated value chain and low contract share,” said Vindheim.

Mowi reported an operating profit of €146 million in the fourth quarter of 2021, compared to €49 million in the same quarter of 2020. Operating revenues in the quarter were at a record high of €1.15 billion euros. Total farming volumes in the quarter of 115,040 tonnes were higher than the forecast of 104,000 tonnes. This is mainly due to good growth in Norway, the company writes.

The board of Mowi has decided on a quarterly dividend of NOK 1.40 (€0.14) per share. Of this, NOK 1.00 (€0.10) per share is an ordinary dividend and NOK 0.40 (€0.04) per share is an extraordinary dividend as a result of a strong financial position and good future prospects.