Mowi rises on strong dividend, volume growth prospects

Mowi ASA

14/02/2024 11:45

** Shares in Mowi  MOWI.OL  rise 4% driven by a
better-than-expected dividend and promising volume growth
prospects after the Norwegian salmon farmer's Q4 results
    ** It proposes a dividend of NOK 1.90 ($0.18), which
Carnegie analyst Henrik Knutsen says is higher than expectations
of NOK 1.50, while capex guidance is lower than expected
    ** The company's capex budget for 2024 is around 300 million
euros ($321 million) 
    ** "The company also indicated more volume growth than the
consensus forecast towards 2026," Knutsen says, with the 2026
consensus estimate at 540,000 tonnes
    ** Mowi maintains 2024 harvest volume guidance at 500,000
tonnes
    ** CEO Ivan Vindheim says this implies annual growth rate of
4.9% for 2018-2024, well above the industry's projected 2.9%
growth for the same period
    ** The shares are on track for best day since late November

($1 = 0.9347 euros)
($1 = 10.6199 Norwegian crowns)

 (Reporting by Jesus Calero)
 ((Jesus.calero@thomsonreuters.com))