Mowi harvested 475,000 gwt of salmon last year and made operational EBIT of €1.028bn.

Record high harvest and operating profit for Mowi in 2023

Editorial team
Published

The world’s biggest Atlantic salmon farmer, Mowi, harvested 129,000 gutted weight tonnes of fish in the final quarter of 2023, taking its total harvest volume for the year to a record high 475,000 gwt, up from 464,000 gwt in 2022.

Operating profit for the group in Q4 was approximately €203 million, lower than the €239m made in Q4 2022. Blended farming cost in the quarter was €5.58 per kg (Q4 2022: €5.25), the company said in a market update.

Full year operating profit in 2023 was a record high of approximately €1.028 billion (2022: €1.005bn).

The harvest volumes for Q4 2023 were:

  • Farming Norway 81,000 gwt
  • Farming Scotland 10,500 gwt
  • Farming Chile 27,500 gwt
  • Farming Canada 4,000 gwt
  • Farming Ireland - gwt
  • Farming Faroes 3,500 gwt
  • Farming Iceland (Arctic Fish) 2,500 gwt
  • Total 129,000 gwt

Mowi indicated in its Q3 2023 report that the company’s Ireland farming operation would have a low harvest volumes in Q4.

Total Q4 operational EBIT (operating profit) per kg through the value chain was approximately as follows:

  • Norway €2.40
  • Scotland €(0.10)
  • Chile €0.40
  • Canada €(1.20)
  • Ireland €-
  • Faroes €2.15
  • Iceland €1.30

Operational EBIT in Consumer Products in Q4 2023 was €38m(€43m), and operational EBITDA in Feed was €16m (€21m). Reported financial net interest-bearing debt (NIBD) for the group was approximately €1.790bn at the end of the quarter (excluding IFRS 16 effects).

Mowi's complete Q4 2023 report will be released on February 14.

mowi 2023 harvest volume news