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Mowi employees in Scotland. Photo: Mowi / Upfront Photography.
Mowi employees in Scotland. Photo: Mowi / Upfront Photography.

Mowi Scotland harvested 12,000 gutted weight tonnes of salmon in the fourth quarter of last year and 64,500 gwt for the whole of 2021, it said in a market update today.

The Norwegian company harvested 115,000 gwt in total in Q4, 11,000 gwt more than guided in its Q3 2021 report.

The harvest distribution was:

  • Farming Norway - 71,000 gwt
  • Farming Scotland - 12,000 gwt
  • Farming Canada - 10,000 gwt
  • Farming Chile - 16,500 gwt
  • Farming Ireland - 1,500 gwt
  • Farming Faroe Islands - 4,000 gwt

In total for the whole of 2021, the Mowi Group harvested 466,000 gwt. It was distributed as follows:

  • Farming Norway - 273,000 gwt
  • Farming Scotland - 64,500 gwt
  • Farming Canada - 45,500 gwt
  • Farming Chile - 66,000 gwt
  • Farming Ireland - 7,000 tonnes
  • Farming Faroe Islands - 10,000 gwt

Operational EBIT for the group was approximately €146 million in Q4 2021 (€49m in Q4 2020).

Production cost per kilo of fish was €4.62 against €4.59 in the preceding quarter.

Mowi's operating EBIT was negatively impacted by €8m related to extraordinary mortality in Eastern Canada. This affected the total margin in the quarter by €0.07 / kg.

Total operational EBIT per kg throughout the value chain was approximately as follows:

  • Norway - €1.75
  • Scotland - €0.60
  • Chile - €0.65
  • Canada - €0.05 (Western Canada €1.05)
  • Ireland - €0.95
  • Faroe Islands - €1.40

Operational EBIT in Consumer Products, which includes a factory at Rosyth in Fife, Scotland was €26m (€35m in Q4 2020) and operational EBIT for Feed, which includes a feed mill at Kyleakin, Skye, Scotland was €8m in Q4 2021 (€14m in Q4 2020).The reported net interest-bearing debt was approximately €1.26 billion at the end of 2021.

The full Q4 2021 report for Mowi will be released on February 16.