Norway's Mowi Q2 revenue rises on higher harvest volumes
Norway's Mowi Q2 revenue rises on higher harvest volumes
Overview
Norway salmon producer posted record Q2 revenue, driven by strong harvest volumes and lower costs
Operational EBIT for Q2 rose 23% yr/yr to a record high
Company declared NOK 2.30 per share Q2 dividend
Outlook
Mowi expects limited supply growth for the salmon industry in the years ahead
Company anticipates continued strong demand for salmon, supporting a more balanced market
Mowi expects market growth to continue through 2026 and beyond, driven by health and sustainability trends
Result Drivers
RECORD HARVEST VOLUMES - Co said Q2 harvest volumes rose 7.4% yr/yr to a record 150,000 tonnes, supporting revenue growth
LOWER COSTS - Co said reduced costs, especially in Norwegian and Scottish operations, contributed to improved operational EBIT
HIGHER SALMON PRICES - Co said salmon prices increased 6% in Q2 after a period of low prices, helping to lift results
Company press release: ID:nGNEbZZNMK
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| EUR 1.60 bln |
|
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 NOK233.00, about 15.8% above its August 17 closing price of NOK201.20
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago
Reuters Recommended Reads
Aug 17 - New Zealand's a2 Milk tumbles on weak earnings forecast, profit miss
Aug 17 - Denmark's Royal Unibrew Q2 revenue slightly beats; DKK 300 mln buyback launched
Aug 17 - West Africa cocoa sector struggles to meet EU anti-deforestation rules, raising supply concerns
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(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.)