Norway's Mowi Q2 operating profit jumps on higher harvest volumes
Norway's Mowi Q2 operating profit jumps on higher harvest volumes
Overview
Norway salmon producer's preliminary Q2 harvest volumes rose 13% yr/yr to record 150,000 tonnes
Preliminary Q2 operational EBIT grew 23% yr/yr to EUR 231 mln
Company reduced blended farming cost per kg from prior year
Outlook
Company did not provide specific guidance or outlook for future quarters or the full year in the press release
Result Drivers
RECORD HARVEST VOLUMES - Co said Q2 harvest volumes reached 150,000 tonnes, up 13% yr/yr, contributing to higher operational EBIT
LOWER FARMING COSTS - Co said blended farming cost per kg fell to EUR 5.21 from EUR 5.39 in Q2 2025, reducing costs by EUR 24 mln
Company press release: ID:nGNE56Y2Dn
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Operational EBIT |
| EUR 231 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 3 "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 NOK237.50, about 26.1% above its July 14 closing price of NOK188.40
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 14 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.)