Overview
Norway salmon producer's Q1 harvest volumes rose 26% yr/yr to record 136,000 tonnes
Preliminary Q1 operational EBIT was approx. EUR 221 mln
Company's blended farming cost per kg fell yr/yr despite impact from algae bloom in Norway
Outlook
Company did not provide specific guidance or outlook for future quarters or the full year
Result Drivers
RECORD HARVEST VOLUMES - Co said Q1 harvest volumes reached a record 136,000 tonnes, up 26% yr/yr, driven by higher production across regions
COST REDUCTION - Blended farming cost per kg declined to EUR 5.46 from EUR 5.89 yr/yr, despite negative impact from algae bloom in Norway
Company press release: ID:nGNED6LJR
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Operational EBIT
EUR 221 mln
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 NOK254.00, about 19.5% above its April 17 closing price of NOK212.60
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago
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.)
