Mowi earns €96m on 104,000-tonne harvest in Q2
Mowi earned €96 million in the second quarter of 2020, compared to €211m EBIT in the same period last year, it said in a trading update today.
The company harvested 104,000 gutted weight tonnes (gwt) of Atlantic salmon in Q2, slightly more than the 102,500 tonnes it guided in Q1.
The harvest was distributed as follows:
- Norway - 56,500 gwt (Q2 2019: 51,400)
- Scotland - 14,500 gwt (16,000)
- Canada - 11,500 gwt (12,500)
- Chile - 14,000 gwt (15,100)
- Ireland - 4,000 gwt (2,100)
- Faroe Islands - 3,500 gwt (1,400)
EBIT per kilo for the production countries was as follows:
- Norway - €1.05 (Q2 2019: 2.57)
- Scotland - €1.0 (2.92)
- Canada - -€0.65 (0.83)
- Chile - €0.80 (1.87)
- Ireland - €3.85 (2.66)
- Faroe Islands - €1.90 (2.63)
According to market-focused website Salmon Business, the results are better than financial analysts in Norway had predicted.
Mowi will release its complete Q2 2020 report on August 26.
