Mowi Exceeds Expectations | Finansavisen

Mowi achieved operating profit from operations of around 320 million euros in the second quarter of 2022, according to an update of the company’s results on Monday.

According to estimates obtained by Infront, operating profit from operations of 315 million euros was anticipated in advance.

The slaughter volume was 103,000 tonnes over the quarter, against 98,900 tonnes expected. In the Norwegian operations, the slaughter volume was 60,000 tonnes, compared to the planned 55,000 tonnes.

The company itself guided 99,000 tons in the second quarter.

The company further clarifies that the slaughter volume from Norway contributed to an operating profit or loss throughout the value chain of approximately 3.95 euros per kilo, compared to the 3.84 euros expected on kilo. The activity in Chile contributed around 1.04 euros per kilo, against the expected 2.33 euros per kilo.

The Scotland operation brought 1.60 euros per kilo, against the expected 2.33 euros per kilo, while the operations in Canada contributed around 3.00 euros per kilo, against the expected 2.72 euros per kilo.

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

In addition, Consumer Products operating profit was EUR 18 million, while within the animal feed business, operating profit was EUR 2 million in the second quarter 2022.

(direct TDN)

Rolf Mckinney

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