(Oslo, 30 October 2019) Mowi achieved a record high Q3 turnover and all-time
high volumes in the third quarter of 2019. The company's operational EBIT was
EUR 148 million, compared to EUR 207 million in the corresponding quarter of
2018.
"In the quarter we achieved the highest volumes ever both in farming, sales and
feed produced. This resulted in the highest turnover we have ever had in a third
quarter. We are aiming at further growth next year with a harvest volume
forecast of 450 000 tonnes, up from this year's 430 000 tonnes," says Mowi CEO,
Alf-Helge Aarskog.
Due to lower prices and higher farming costs driven by biological issues, the
results are lower in the quarter than they were in the same quarter last year.
"The third quarter has been more challenging than normal for our farming
organization. I would therefore like to recognize the hard work from all of my
colleagues," says Aarskog.
Mowi reported operational revenues of EUR 1 023 million (EUR 990 million) in the
third quarter of 2019. Total harvest volume was 116 989 tonnes (109 896) in the
quarter.
Salmon of Norwegian origin achieved an operational EBIT per kilo of EUR 1.64
(2.25) in the third quarter, while salmon of Scottish and Canadian origin
reported operational EBIT per kilo of EUR 1.34 and EUR -0.01 respectively (EUR
1.36 and EUR 1.05). Salmon of Chilean origin reported operational EBIT per kilo
of EUR 1.32 in the quarter (EUR 1.28). Mowi Feed reported an operational EBIT of
EUR 7.9 million (EUR 7.3 million). Mowi Consumer Products reported an
operational EBIT of EUR 12.8 million (EUR 16.3 million).
Mowi's Board of Directors has resolved to pay a quarterly dividend of
NOK 2.60 per share, supported by the results, a strong market outlook, and a
solid financial position.
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.