Mowi achieved higher revenues in the second quarter of 2022 compared to the same quarter in 2021. Photo: Mowi
Mowi achieved higher revenues in the second quarter of 2022 compared to the same quarter in 2021. Photo: Mowi

Higher revenues for Mowi in Q2

The world’s biggest salmon farmer, Mowi, harvested 13,000 tonnes in Scotland in the second quarter of 2022, it said in a market update today.

Published

The Norwegian company harvested 103,000 gwt in total in Q2, 4,000 gwt more than guided in its Q1 2022 report.

The harvest distribution was:

Farming Norway - 60,000 gwt

Farming Scotland - 13,000 gwt

Farming Canada - 10,500 gwt

Farming Chile - 14,500 gwt

Farming Ireland - 3,500 gwt

Farming Faroe Islands - 1,500 gwt

Operational EBIT for the group was approximately €320 million in Q2 2022 (€137 million in Q2 2021).

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

Norway – €3.95

Scotland – €1.60

Chile – €1.05

Canada – €3.00   (Canada West: €3.85)

Ireland – €2.80

Faroes – €5.80

Operational EBIT in Consumer Products was €18 million (€16 million in Q2 2021) and Feed €2 million in Q2 2022 (€3 million in Q2 2021).   

Reported financial net interest-bearing debt (NIBD) was approximately €1,240 million at the end of the quarter (excluding IFRS 16 effects).

The complete Q2 2022 report will be released on 24 August.