Mowi ASA (OSE:MOWI): Q2 2024 Trading update

Harvest volumes Q2 2024 (1)

Farming Norway 59.5 thousand tonnes
Farming Scotland 19.5 thousand tonnes
Farming Chile 14.5 thousand tonnes
Farming Canada 9.5 thousand tonnes
Farming Ireland 3.5 thousand tonnes
Farming Faroes 2.5 thousand tonnes
Farming Iceland (Arctic Fish) 1.5 thousand tonnes
Total 110.5 thousand tonnes


In connection with the presentation of the Q1 2024 results, Mowi ASA guided a total harvest volume of 110 thousand tonnes (GWE) for Q2 2024.

Note:
(1) The harvest volumes are provided in gutted weight equivalents (GWE).

Additional information

Operational EBIT for the Group was approximately EUR 230 million in Q2 2024 (NOK 2,663 million / EURNOK 11.58). Blended farming cost was EUR 5.84 per kg in the quarter which represented an improvement of EUR 0.21 per kg from EUR 6.05 per kg in the first quarter.

Total Q2 Operational EBIT per kg through the value chain was approximately as follows:

Norway EUR 2.50
Scotland EUR 2.20
Chile EUR 0.85
Canada EUR 0.70   
Ireland EUR 2.20
Faroes EUR 4.15
Iceland EUR 0.95


Operational EBIT in Consumer Products was EUR 25 million. Operational EBITDA in Feed was EUR 11 million in Q2 2024. Reported financial net interest-bearing debt (NIBD) for the group was approximately EUR 1 880 million at the end of the quarter (excluding IFRS 16 effects). The complete Q2 2024 report will be released on 21 August at 06:30 CET.

Please refer to the Annual Report for detailed descriptions and reconciliations of non-IFRS measures such as Operational EBIT and NIBD.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act


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