“Mowi Farming has potential to grow well beyond 500,000 tonnes organically, using existing license capacity”

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Salmon giant looking to accretive acquisitions and is sticking to conventional farming. But it is keeping an eye on “alternative technologies”.

“To further strengthen the company’s position, Mowi’s strategic trajectory towards 2025 will be focussed on our four main objectives: growth throughout the value chain with particular focus on Mowi Farming, further cost savings across the group, greater sustainability, and capitalising on digitalisation and automation,” Mowi CEO Ivan Vindheim said on the company’s capital markets day on Wednesday.

Mowi expects the continued strong growth in demand for Atlantic salmon to exceed supply growth in
the next five years.

“Salmon is a scientifically proven natural superfood. It is also versatile and appeals to people of all ages with its highly appetising taste, look, texture and colour. In the coming years, I see countless opportunities for Mowi and we are working on many important initiatives that will further develop the company and bring it into the future,” said Vindheim.

The CEO said that Mowi Farming has “the intrinsic potential to grow well beyond 500,000 tonnes organically, using existing license capacity”.

Further to this, Mowi Farming will also pursue farming growth through accretive acquisitions when this fits with its operational strategy.

“The main focus in Mowi Farming has been and will continue to be conventional farming,” he said.

“That said, we are monitoring developments in alternative technologies closely and may introduce such technologies when, and if, we find it timely and profitable,” added Vindheim.

“Although Mowi is uniquely positioned in the salmon farming industry, we have been lagging on growth and have over the past years grown by less than the industry. For an industry leader that is not satisfactory. Thus, re-igniting growth within Mowi Farming is a key priority going forward”, concluded
Vindheim.