Mowi’s operating profit is expected to be halved this Q3

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Mowi is expected to post an operating profit of EUR 69 million for the third quarter of the year. This is a decrease of 53 per-cent from the same quarter in 2019.

The estimate is based on an average of estimates Infront has collected for TDN Direkt among 11 analysts, and shows the devastating impact of the salmon price that has remained in between EUR 4 and EUR 5 throughout the quarter.

Analysts expect a harvest volume in the second quarter of 128,000 tonnes, of which 78,600 tonnes in Norway.

Operating profit per kilo in Mowi’s Norwegian aquaculture business is expected to be EUR 0.72 in the quarter, while Chilean operations are expected to deliver an operating profit of EUR 0.38 per kilo. For Scotland, the salmon business is expected to deliver EUR -0.43 per-kilo, while the Canada business is expected to deliver EUR -0.45 per-kilo.

The dividend, which was EUR 0.24 per share in the third quarter of 2019, is now expected to be EUR 0.032.