Mowi ASA (OSE:MOWI): Q3 2024 Trading update

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October 15, 2024 12:30 AM EDT

Harvest volumes Q3 2024 (1)

Farming Norway106.0 thousand tonnes
Farming Scotland15.0 thousand tonnes
Farming Chile23.0 thousand tonnes
Farming Canada7.0 thousand tonnes
Farming Ireland3.5 thousand tonnes
Farming Faroes3.0 thousand tonnes
Farming Iceland (Arctic Fish)3.5 thousand tonnes
Total161.0 thousand tonnes
  

Harvest volumes were all-time high 161k GWT in the quarter. In connection with the presentation of the Q2 2024 results, Mowi ASA guided a total harvest volume of 159.5k GWT for Q3 2024.

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

Additional information

Operational EBIT for the Group was approx. EUR 173 million in Q3 2024 (NOK 2,035 million / EURNOK 11.76). Blended farming cost was EUR 5.72 per kg in the quarter which represented an improvement of EUR 0.12 per kg from EUR 5.84 per kg in the second quarter. In Q3 2023 the cost was EUR 5.73 per kg.

Total Q3 Operational EBIT per kg through the value chain was approximately as follows:

NorwayEUR1.40 
ScotlandEUR0.85 
ChileEUR0.60 
CanadaEUR-0.55   (Canada East EUR 0.64)
IrelandEUR1.20 
FaroesEUR0.60 
IcelandEUR0.40 


Operational EBIT in Consumer Products was EUR 43 million. Operational EBITDA in Feed was EUR 25 million in Q3 2024. Reported financial net interest-bearing debt (NIBD) for the group was approximately EUR 1 770 million at the end of the quarter (excluding IFRS 16 effects). The complete Q3 2024 report will be released on 6 November 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 of the Norwegian Securities Trading Act.



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