Mowi, the world’s largest producer of farmed salmon, has reported its harvest volumes for the second quarter of 2024.
The total harvest volume reached 110,500 tons, distributed across various regions.
Farming operations in Norway contributed the largest share with 59,500 tons, followed by Scotland with 19,500 tons and Chile with 14,500 tons.
Canada, Ireland, the Faroes, and Iceland (Arctic Fish) produced 9,500 tons, 3,500 tons, 2,500 tons, and 1,500 tons respectively.
In its Q1 2024 results presentation, Mowi had projected a total harvest volume of 110,000 tons gutted weight equivalents (GWE) for Q2 2024, aligning closely with the actual figures reported.
The group’s Operational EBIT for Q2 2024 was approximately €230 million ($250 million). The blended farming cost improved to €5.84 per kg from €6.05 per kg in the previous quarter, showing a positive trend in operational efficiency.
The Operational EBIT per kg through the value chain varied significantly by region.
Norway achieved €2.50 per kg ($2.73 per kg), Scotland and Ireland both reached €2.20 per kg ($2.40 per kg), Chile and Iceland recorded €0.85 per kg ($0.93 per kg) and €0.95 per kg ($1.04 per kg) respectively, Canada reported €0.70 per kg ($0.76 per kg), and the Faroes led with a high of €4.15 per kg ($4.52 per kg).
Additionally, the Operational EBIT for Consumer Products was €25 million ($27.25 million), while Operational EBITDA in the Feed segment was €11 million ($11.99 million) for Q2 2024. The reported financial net interest-bearing debt (NIBD) for the Group stood at approximately €1.9 billion ($2 billion) at the end of the quarter, excluding IFRS 16 effects.
The complete Q2 2024 report is scheduled for release on 21 August at 06:30 CET.
