Mowi’s sea biomass is at an all time high

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And this is due to, among other things, to the high quality of the feed we produce, said CEO Alf-Helge Aarskog.

“This is the second best year in Marine Harvest, I mean Mowi’s history rather. It is probably possible that I will make that mistake several times,” joked Aarskog, on what was his very first quarterly presentation as CEO of Mowi.

Mowi achieved an operating EBIT of EUR 213 million in the fourth quarter of 2018, compared with EUR 181 million in the same quarter last year.

“We are present everywhere so we will always be influenced that something in some places, but if you look at the total for us it is a very good quarter. It is extremely good in region north. Production-wise good in Chile, but in terms of results it could have been better because the price is too low on Chilean salmon,” said Aarskog.

He said that at the beginning of the year, Mowi had its highest biomass in the sea ever. Something he believes will bear fruit in 2019.

“We think we will harvest 430,000 tonnes next year, up from 375,000 this year. So the potential is great,” he said.

Good feedback on the premium product
During the first half of 2019, Mowi will launch new premium products, but some restaurants have already been testing the product. The feedback is fantastic,” according to Aarskog. “We’ve also seen it with our own eyes. The texture and color are amazing,” he added.

Progress in Chile
Although Mowi did not present Chile’s mortality figures this time, Aarskog said that it was looking good. “The SRS vaccine seems to work well and we have almost no use of antibiotics,” he added.

Mowi Finance director Ivan Vindheim was also impressed. “It’s the lowest mortality rates I’ve ever seen in Chile. Maybe in the whole world,” he said.

Continuing to cut spending
Mowi has now been working for over a year to cut costs. So far, they have cut EUR 60 million.

“It is about justifying everything from how we travel, the equipment we buy, to how we use water in our factories. So there are quite a number of points on a list of measures that is hugely long,” said Aarskog.

And they’re not going to stop there. In 2019, the goal is to cut EUR 30 million.

“Now in others, it’s more about becoming more professional and making more strategic purchases,” said the CEO.

Mowi’s focus on their own feed factories will also contribute to this direction in this respect.

“We make sure that we have efficient factories. And then we make sure not to use more plastic feed bags than necessary, and then we are transporting more and more in bulk. So you can safely say that the feed factories contribute. And the quality of what we produce there is very good, ” concluded Aarskog.