Mowi harvested record volume in Q1

Salmon farmer Mowi Scotland harvested 20,500 gutted weight tonnes in the first quarter of this year, helping Norwegian parent company Mowi ASA to a record Q1 harvest of 136,000 gwt.

Mowi Scotland’s harvest increased from 17,656 gwt in the same period last year, and Mowi ASA’s harvest was up from 108,064 gwt in Q1 2025. It was also higher than the 128,000 gwt guided for Q1 2026 in Q4 2025.

The company’s biggest operation, in Norway, harvested 75,500 gwt (Q1 2025: 61,703 gwt) and was the most profitable, making operational EBIT of €2.40 per kilo (€2.51/kg). Mowi Scotland was the second best, making €1.50/kg.

Operating profit for the group was approximately €221 million in Q1 2026. Blended farming cost was €5.46/kg in the quarter, down from €5.89/kg in Q1 2025. An algae bloom in Mowi’s Southern Norway region negatively impacted cost by approximately €10 million, or €0.13/kg for the Norwegian volumes.

Harvest volumes Q1 2026:

Farming Norway   75,500 gwt

Farming Scotland   20,500 gwt

Farming Chile   21,000 gwt

Farming Canada   8,000 gwt

Farming Ireland   2,000 gwt

Farming Faroes   3,000 gwt

Farming Iceland (Arctic Fish)   6,000 gwt

Total   136,000 gwt

Total Q1 Operational EBIT per kg through the value chain was approximately as follows:

Norway   €2.40

Scotland   €1.50

Chile   €0.35

Canada   €(0.10)

Ireland   €0.10

Faroes   €0.95

Iceland   €0.35

Operational EBIT in Consumer Products was €20 million. Operational EBITDA in Feed was €6 million in Q1 2026.

The complete Q1 2026 report will be released on May 13.