Mowi is expected to declare a harvest volume of 102,000 tons of salmon for the quarter.
Norwegian salmon farming giant Mowi is expected to report a €230 million operational profit from a turnover of €1.285 billion for the first quarter of 2024.
This forecast is based on the average of eight estimates collected by Infront for TDN Direkt.
Participants in the estimate include ABG Sundal Collier, Arctic Securities, BofA Securities, Carnegie, DNB Markets, Exane BNP Paribas, Fearnley Securities and Nordea Markets.
A majority of the investment banks consulted recommend buying Mowi shares, with six out of seven suggesting a buy or overweight recommendation. The expected average price target for Mowi’s shares is NOK 238 ($22.11).
In comparison, Mowi achieved a €322 million operational profit in Q1 2023. The current lower projections reflect challenges in the salmon farming industry, particularly regarding the handling of production fish. Mowi’s request to export production fish due to domestic capacity issues was denied by the Norwegian Food Safety Authority.
