Mowi harvested record Q2 volume but made lower profit
Norway and Scotland earned most per kilo, Iceland made a loss
The world’s biggest salmon farmer, Mowi, harvested 133,000 gutted weight tonnes of fish in the second quarter of this year, it sa id in a trading update. The Q2 harvest volume is 3,000 gwt more than guided in its Q1 2025 report and is a record for the quarter.
The group’s operating profit in Q2 was €189 million (£164.4m). In the same period last year - when spot prices were higher - Mowi made an operating profit of €230m on a harvest of 110,000 gwt.
Blended farming cost in Q2 2025 was €5.39 per kg, down from €5.84 in the same quarter last year and €5.89 in Q1 2025.
Harvest volumes by region in Q2 2025 were:
- Norway - 72,500 gwt
- Scotland - 24,000 gwt
- Chile - 15,500 gwt
- Canada - 9,500 gwt
- Ireland - 5,000 gwt
- Faroes - 4,500 gwt
- Iceland (Arctic Fish) - 2,000 gwt
- Norway - €1.90
- Scotland - €1.30
- Chile - €1.15
- Canada - €0.25
- Ireland - €0.20
- Faroes - €0.90
- Iceland - loss of €2.20 (Very low harvest volumes)
Operational EBIT per kg through the value chain was approximately as follows:
Mowi’s Consumer Products division made an operating profit of €52m in Q2, and the Feed division made operational EBITDA of €14m.
The complete Q2 2025 report will be released on August 20.
