Mowi operational EBIT down 70% in Q4

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Low prices hit salmon giant.

In a statement on the Oslo Stock Exchange, Mowi reports that operational EBIT for the group was approximately EUR 49 million in Q4 2020, down 70 per-cent compared to EUR 166 million in Q4 2019.

Mowi added that blended Farming cost per kg harvested was EUR 4.28, a reduction from EUR 4.40 the year before. Blended Farming cost for the period before was EUR 4.23 per kg.

Harvest volumes for the salmon giant in the quarter were:

    • Farming Norway 78.5 thousand tonnes
    • Farming Scotland 13.0 thousand tonnes
    • Farming Canada 12.5 thousand tonnes
    • Farming Chile 20.5 thousand tonnes
    • Farming Ireland 1.0 thousand tonnes
    • Farming Faroes 1.5 thousand tonnes

This came to a total of 127 thousand tonnes. In connection with the presentation of the Q3 2020 results, Mowi guided a total harvest volume of 128.9 thousand tonnes (GWE) for Q4.

Total operational EBIT per kg through the value chain was approximately as follows:

  • Norway EUR 0.75
  • Scotland EUR 1.55
  • Canada EUR -1.10
  • Chile EUR -0.50
  • Ireland EUR 2.60
  • Faroes EUR -0.75

Operational EBIT in Consumer Products was EUR 35 million and Feed EUR 14 million in Q4 2020.

Reported financial net interest-bearing debt was approximately EUR 1.4 billion at the end of the quarter.