Mowi missed forecast, but earned EUR 211 million this Q4

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First update as new name.

In a financial update, Mowi stated that what the company earned approximately in operational EBIT in the fourth quarter of 2018.

Operational EBIT includes insurance settlements of around EUR 10 million after Mowi Kritsen’s large smokehouse burned down to the ground in July last year.

According to Reuters, the salmon farmer previosly know as Marine Harvest missed its forecast of EUR 224 million.

Mowi also reports on the following earnings per kilogram (in EUR) per production region:

  • Norway 2.45
  • Scotland 2.30
  • Canada 1.45
  • Chile 1.25
  • Ireland 2.45
  • Faroe Islands 1.35

The harvest volume of 106,000 tonnes in Q4 in 2018 was as follows:

  • Norway 59,000 tonnes
  • Scotland 12,000 tons
  • Canada 12,000 tons
  • Chile 17,000 tons
  • Ireland 1,500 tons
  • The Faroe Islands: 4,500 tonnes

Previously, Mowi has guided a harvest volume of 110,500 tonnes for the quarter. The company did not say way production was lower.

Mowi’s net interest-bearing debt was approximately EUR 1.04 billion at the end of the quarter.

Full report for the fourth quarter of 2018 will be published on 13 February.