Norway's Mowi Q1 revenue hits record high

Mowi ASA

13/05/2026 05:40

Overview

Norway salmon farmer's Q1 revenue hit record high, operational profit was second best for Q1

Company harvested 136,000 tonnes in Q1, expects 605,000 tonnes for 2026

Outlook

Mowi expects to harvest 605,000 tonnes of salmon in 2026

Company expects to sell 650,000 tonnes of feed in 2026, up 11% from last year

Mowi sees salmon supply growth at 0% for rest of 2026, about 1% in 2027

Result Drivers

RECORD HARVEST VOLUMES - Co said Q1 harvest of 136,000 tonnes and annualised growth of 8.3% drove record-high revenue and strong operational profit

COST REDUCTIONS - Farming costs fell 7.3% yr/yr, reducing expenses by EUR 46 mln, attributed to good operational and biological performance

DOWNSTREAM AND FEED GROWTH - Record-high Consumer Products volumes up 21% yr/yr and strong feed division performance supported results

Company press release: ID:nGNE6ll1lY

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 1.54 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the food processing peer group is "buy"

Wall Street's median 12-month price target for Mowi ASA is NOK250.00, about 28.5% above its May 12 closing price of NOK194.50

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)