(Oslo,13 February 2019) Mowi achieved an operational EBIT of EUR 213 million in
the fourth quarter of 2018, compared to EUR 181 million in the corresponding
quarter of 2017. For the full year, Mowi made an operational EBIT of EUR 753
million. This is the second-best year ever financially for the Group.
Mowi achieved an operational revenue of EUR 1 074 million in the quarter and EUR
3 815 million for 2018. Full-year turnover is record high for the group.
The Board of Directors has resolved to pay a quarterly dividend of NOK 2.60 per
share, supported by good results, a strong market outlook, and a solid financial
position.
"2018 was a very good year for Mowi. Strong demand for salmon and high prices in
all markets resulted in great earnings for the company. I am proud of all my
colleagues who work hard to produce healthy and tasty seafood for consumers all
over the world. They have all contributed to the strong results", says CEO Alf-
Helge Aarskog.
Mowi reported operational revenues of EUR 1 074 million (EUR 1 010 million) in
the fourth quarter of 2018. Total harvest volume was 105 783 tonnes in the
quarter (112 628). Harvest guidance for 2019 is 430 000 tonnes.
Salmon of Norwegian origin achieved an operational EBIT per kilo of EUR 2.44
(1.77) in the fourth quarter, while salmon of Scottish and Canadian origin
reported operational EBIT per kilo of EUR 2.32 and EUR 1.42 respectively (EUR
1.19 and EUR 0.98). Salmon of Chilean origin reported operational EBIT per kilo
of EUR 1.25 in the quarter (EUR 1.03). Mowi Feed reported an operational EBIT of
EUR 5.8 million (EUR -2.8 million). Mowi Consumer Products reported an
operational EBIT of EUR 38.0 million (EUR 29.1 million).
"I wish to commend the organization for the EUR 61 million of savings achieved
in the 2018 cost improvement program. This will continue into 2019 with a new
EUR 30 million global cost and procurement improvement program", says Aarskog.
Starting 2019 by changing the company-name to Mowi and launching a new brand
strategy, the CEO believes this will be an exciting year for the company.
"We look forward to introduce the MOWI brand in selected markets. I am confident
that this will transform the company over time", says Aarskog.
For further information, please contact:
Ivan Vindheim, CFO, +47 958 71 310
Kim Galtung Døsvig, IR Officer & Head of Treasury, +47 908 76 339
About Mowi ASA
Mowi, formerly known as Marine Harvest, is the largest producer of farm-raised
salmon in the world. As the first global seafood company with an end-to-end
supply chain, Mowi's ownership over every stage of production enables it to
bring supreme quality salmon to consumers around the world.
With headquarters in Bergen, Norway, Mowi employs over 14 500 people in 25
countries worldwide, and is listed on the Oslo Stock Exchange.
For more information, please visit www.mowi.com.
Forward looking statements
This release may be deemed to include forward-looking statements, such as
statements that relate to Mowi's goals and strategies, salmon prices, ability to
increase or vary harvest volume, production capacity, trends in the seafood
industry, restructuring initiatives, exchange rate and interest rate
fluctuations, expected research and development expenditures, business prospects
and positioning with respect to market, demographic and pricing trends,
strategic initiatives, and the effects of any extraordinary events and various
other matters (including developments with respect to laws, regulations and
governmental policies regulating the industry and changes in accounting
policies, standards and interpretations) on Mowi's business and results.
Forward-looking statements are typically identified by words or phrases, such as
"believe," "expect," "anticipate," "intend," "estimate," "may increase," "may
fluctuate," "plan," "goal," "target," "strategy," and similar expressions or
future or conditional verbs such as "may," "will," "should," "would," and
"could." Forward-looking statements are Mowi's current estimates or expectations
of future events or future results. Actual results could differ materially from
those indicated by these statements because the realization of those results is
subject to many risks and uncertainties. Mowi ASA's Annual
Report contains additional information about factors that could affect actual
results, including: changes to the price of salmon including the value of our
biological assets; hedging risks; risks related to fish feed; economic and
market risks; environmental risks; operational risks; risks related to escapes,
disease and sea lice; product risks; risks related to our acquisitions;
financing risks; regulation risks including relating to food safety, the
aquaculture industry, processing, competition and anti-corruption; trade
restriction risks; litigation risks; tax and accounting risks; strategic and
competitive risks; and reputation risks. All forward-looking statements included
in this release are based on information available at the time of the release,
and Mowi assumes no obligation to update any forward-looking statement.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.