Mowi chief executive Alf-Helge Aarskog saw operational EBIT rise slightly in Q4 2018 compared to the year before.

Norway and Ireland make most per kg for Mowi in Q4

Mowi’s operations in Norway and Ireland made the biggest operating profit per kilogram in the final quarter of 2018, with Scotland not far behind.

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The Norway and Ireland divisions of the world’s biggest salmon farmer, which recently changed its name from Marine Harvest, both made an EBIT per kg of €2.45, the company said in a trading update.

Mowi Scotland’s EBIT per kg was €2.30, while the figure was €1.45 for Canada, €1.35 for the Faroes and €1.25 for Chile.

Mowi harvested 59,000 gutted weight tonnes in Norway, 17,000 gwt in Chile, 12,000 gwt in Scotland and in Canada, 4.500 gwt in the Faroes and 1,500 gwt in Ireland, totalling 106,000 gwt.

Operating profit up

Operating profit was approximately €211 million in Q4 2018 (€181m in Q4 2017), which included insurance income of approximately €10m related to the Mowi Kritsen processing plant in France, which was badly damaged by fire last year and has not yet restarted operations.

Some of the work that had been carried out at Kritsen is now being done at Mowi’s secondary processing plant in Rosyth, Scotland.

The complete Q4 2018 report will be released on February 13.