Mowi ASA ( (MHGVY) ) has released its Q3 earnings. Here is a breakdown of the information Mowi ASA presented to its investors.
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Mowi ASA is a leading global seafood company, primarily focused on the farming, production, and sale of Atlantic salmon, with a fully integrated value chain that ensures high standards of quality and sustainability.
In its latest earnings report, Mowi ASA announced record-high revenue of EUR 1,444 million and all-time high harvest volumes of 161,020 GWT for the third quarter of 2024, despite facing a decrease in operational EBIT to EUR 173 million, primarily due to lower prices caused by high seasonal supply and reduced demand in the US market.
Key highlights from the report include Mowi’s achievement of all-time high earnings in consumer products and feed, improved cost efficiency due to lower feed prices, and maintained high harvest volume guidance for 2024 and 2025. Additionally, Mowi plans to continue its volume growth strategy, aiming for a target of 600k GWT by 2029.
Mowi’s operational performance across regions showed mixed results, with improved biological performance in some areas, while others faced challenges due to environmental conditions. The company remains focused on streamlining operations and enhancing cost efficiency to drive future growth.
Looking ahead, Mowi’s management maintains a positive outlook with anticipated cost improvements and strategic growth plans, positioning the company for continued success in the competitive seafood industry.
