Mowi outperformed in Q2 – earned €96m

News
966

Operational EBIT was 26 percent higher than estimated by the investment banks following the company.

Mowi this morning reported their Q2 trading update. The operational EBIT for the Group was approximately EUR 96 million in Q2 compared to the estimated EUR 77 million.

Read also: This is what analysts are predicting from Mowi’s Q2

The fish farming giant harvested 104.000 tonnes of salmon in the quarter.

Harvest volumes Q2:

  • Farming Norway      56.5 thousand tonnes
  • Farming Scotland    14.5 thousand tonnes
  • Farming Canada      11.5 thousand tonnes
  • Farming Chile       14.0 thousand tonnes
  •  Farming Ireland      4.0 thousand tonnes
  • Farming Faroes       3.5 thousand tonnes
  •  Total              104.0 thousand tonnes

In connection with the presentation of the Q1 results, Mowi guided a total harvest volume of 102.5 thousand tonnes (GWE) for Q2.

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

  • Norway     EUR     1.05
  • Scotland   EUR     1.00
  • Canada     EUR     -0.65
  • Chile      EUR     0.80
  • Ireland    EUR     3.85
  • Faroes     EUR     1.90

Reported financial net interest-bearing debt was approximately EUR 1,380 million at the end of the quarter. The complete Q2 2020 report will be released on 26 August.