They harvested 166,000 tons in the third quarter and is raising its volume guidance for 2025 from 545,000 tons to 554,000
Mowi just informed that they harvested a record-high 166,000 tons in the third quarter and is raising its volume guidance for 2025 once again, this time from 545,000 tons to 554,000 tons, mainly as a result of consolidating Nova Sea from the fourth quarter. This corresponds to a growth of 10.5% from 2024. Furthermore, the global leading company reported revenues of USD 1.60 billion and an operational EBIT of USD 129.26 million in the third quarter.
In a quarter marked by low salmon prices due to high supply growth, Mowi delivered a solid result on record-high volumes and its board has decided to pay a quarterly dividend of USD 0.15 per share. In that context, Mowi expects to harvest 605,000 tons in 2026, up 9.2% from the current year. Of this, 380,000 tons will be harvested in Norway.
“Despite the quarter’s challenging prices, it is pleasing to see that we continue to deliver well on both operations and growth. We have never produced more salmon than we did this quarter and we have never had more fish in the sea at this time of year. All of which positions us well for further growth,” assured Ivan Vindheim, Mowi CEO.
One of the Most Profitable Aquaculture Companies in the World
In just a few years, Mowi has grown from a 400,000-tonne farmer to a 600,000-tonne one, while simultaneously developing into one of the most profitable aquaculture companies through a strong focus on costs and operations.
“It is positive to see that we have reduced our farming costs by a full USD 57.70 million in the third quarter this year compared with the same quarter last year, and by USD 145.40 million in the year to date. Furthermore, our standing biomass cost continues to develop positively on lower feed prices and other cost measures, which bodes well for next year’s realized production costs,” said Vindheim.
Group’s Processing Business
For their part, the group’s processing business, Mowi Consumer Products, delivered its best quarter ever with very good operations, record-high volumes, and lower raw material prices.
According to Vindheim, “results in Mowi Consumer Products have improved significantly in recent years, not only due to better underlying operations, but also because Mowi benefits from being a fully integrated seafood company. Additionally, in the downstream segment, we can buy cheaper raw materials and exploit market opportunities in periods of falling salmon prices, as in 2025.”
Meanwhile, Mowi’s feed division, Mowi Feed, also delivered a strong quarter with record-high earnings and its second-highest sales volumes ever. 2025 has been a year with abnormally high supply growth coming in the wake of several years of challenging biology for the industry. Supply growth is now normalized and is expected to be around 1% next year. This, combined with good market prospects, means Mowi expects a tighter market balance going forward.
Fully Integrated Global Seafood Company
With an estimated 2026 harvest of 605,000 tons from seven farming countries including Norway, Scotland, Ireland, Faroes, Iceland, Canada and Chile, Mowi is one of the world’s leading seafood companies and the largest producer of farm-raised Atlantic salmon in the world.
The company is a fully integrated global seafood company, bringing salmon and other seafood of supreme quality to consumers around the world, partly under its own MOWI brand. Mowi is ranked as the most sustainable listed animal protein producer in the world by Coller FAIRR.
Mowi, with headquarters in Bergen, Norway, Mowi employs 12,300 people in 26 countries worldwide, and is listed on the Oslo Stock Exchange. Turnover was USD 6.46 billion in 2024.
