Slightly better than expected from Mowi in Q1

The company reports this in a quarterly update Wednesday morning.

According to estimates from various brokerage houses obtained by Infront, an operating operating result of 205 million euros was anticipated in advance.

The slaughter volume was 97,000 tonnes over the quarter, against 98,000 tonnes expected. In the Norwegian operations, the slaughter volume was 59,500 tonnes, against 60,000 tonnes expected.

The company itself guided 98,000 tons in the first quarter, including 60,000 tons in Norway.

Best margins in Ireland

The company achieved the following operating profit per kilo:

  • Norway: 2.55 euros (expected 2.55 euros)
  • Scotland: €1.00 (expected €0.84)
  • Chile: 1.25 euros (expected 1.72 euros)
  • Canada: 2.55 euros (expected 2.04 euros)
  • Ireland: €3.70
  • Faroe Islands: 1.50 euros

Reported interest-bearing net debt, excluding IFRS 16 effects (international accounting rules, editor’s note), amounted to approximately 1,180 million euros at the end of the quarter.

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In addition, Consumer Products operating profit was EUR 21 million, while within the animal feed business, operating profit was EUR -4 million at first quarter of 2022.

Costs NOK 45.3/kg

The costs per kilogram were around 4.77 euros, or around 45.3 NOK.

The group reported the following slaughter volume during the quarter:

  • Norway 59,500 tonnes
  • Scotland 10,500 tonnes
  • Canada 9,000 tonnes
  • Chile 16,000 tonnes
  • Ireland 1,000 tonnes
  • The Faroe Islands 1,000 tonnes
  • A total of 97,000 tons

Mowi publishes its full quarterly report on May 11 at 06:30.

Rolf Mckinney

"Music practitioner. Passionate bacon fanatic. Reader. Food enthusiast. Alcohol nerd. Gamer. Twitter maven."

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