Norway · Delayed Price · Currency is NOK Mowi ASA Earnings Call Transcripts
Fiscal Year 2026
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Record Q1 revenue and harvest volumes drove strong operational EBIT, despite industry oversupply pressuring prices. Costs declined YoY, biological performance was robust, and volume guidance for 2026 is maintained at 605,000 tons. Dividend payout increased, reflecting confidence in future prospects.
Fiscal Year 2025
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Record harvest volumes and operational improvements drove record revenues and profits despite industry-wide soft prices. Cost reductions, a strategic feed partnership, and strong demand position the company for continued outperformance and margin leadership in 2026.
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Q3 saw record harvest volumes and strong downstream results despite soft prices and industry oversupply. Nova Sea acquisition boosts 2025 guidance, with cost reductions and productivity gains supporting future growth. Downside risks remain for 2026 supply and input costs.
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Record-high harvest volumes and strong operational performance offset industry-wide price pressure from an 18% supply surge. Costs declined significantly, supporting earnings, and 2025 volume guidance was raised, with further growth and cost reductions expected.
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Record Q1 revenue and profit driven by strong biological and operational performance, with harvest volumes up 12% year-over-year. Despite lower-than-expected prices due to high supply, cost reductions and robust demand support a positive outlook, with volume guidance maintained and further growth expected.
Fiscal Year 2024
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Record harvest volumes and revenues were achieved, with strong operational performance across all regions and a positive outlook for 2025. The acquisition of Nova Sea accelerates growth targets, while cost reductions and sustainability remain key priorities.
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Record Q3 revenues and harvest volumes drove strong operational profit, with continued organic growth outpacing the industry. Lower feed prices and tight market supply are expected to support margins, while biological challenges and market uncertainties remain.
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Organic farming volume is set to grow by 100,000 tons to 600,000 tons by 2029, with EUR 600 million CapEx and 7%-8% annual revenue growth targeted. EUR 300-400 million in cost savings are planned, driven by post-smolt, digitalization, and efficiency, while sustainability and branding remain core pillars.
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Q2 2024 saw strong operational results with record-high harvest volumes and improved cost efficiency, despite softer prices in Americas and regulatory headwinds in Canada. Full-year volume guidance was reiterated at 500,000 tons, outpacing industry growth.