Mowi Slips To Loss In Q2, Underlying EBIT Climbs On Volume Growth; Cuts FY26 Harvest Volume View

(RTTNews) - Mowi ASA (MOWI.OL, MNHVF), a Norwegian seafood company, on Tuesday reported a net loss in its second quarter, compared to prior year's profit. However, operational EBIT climbed with lower costs and an all-time high revenues, benefited by harvest volumes. Further, the firm trimmed fiscal 2026 harvest volume guidance due to the planned sale of assets in Canada East. Loss for the period attributable to owners of Mowi was 164.0 million euros, compared to profit of 46.0 million euros last year. Basic loss per share was 0.31 euro, compared to prior year's profit of 0.09 euro. Underlying earnings per share grew to 0.28 euro from 0.25 euro a year ago. In Norwegian kroner, underlying earnings per share were 3.08 kroner, up from 2.87 kroner last year. EBIT loss was 71.7 million euros, compared to prior year's pofit of 81.8 million euros. Operational EBIT grew 23 percent to 231.3 million euros from 188.5 million euros a year ago. Operational EBIT margin improved to 14.5 percent from 13.5 percent last year. Operational EBITDA increased to 292.8 million euros from 241.8 million euros a year earlier. Operational revenue for the quarter increased to 1.599 billion euros from 1.394 billion euros in the prior year, driven by strong biological and operational performance, as well as record-high harvest volumes. Harvest volumes were 149, 911 GWT, up from 133, 239 GWT last year.. The company noted that Norwegian and Scottish operations are performing strongly, with record volumes and reduced costs. Mowi delivered 150,000 tonnes of salmon in the second quarter, representing a year-on-year increase of 7.4 percent. Salmon prices increased by 6 percent in the second quarter. Further, the board of Mowi has decided to pay a dividend of 2.30 kroner per share for the second quarter, higher than 1.70 kroner last year. Regarding the current trading, the company said Salmon prices have increased by 21 percent so far in the third quarter compared with 2025, driven by strong demand across many markets and a normalisation of supply growth in the industry. For fiscal 2026, harvest volume is now expected to be 600k GWT, lower than previous view of 605k GWT, as Mowi has entered into a deal to divest the 9k GWT salmon farming operations in Canada East for C$225 million or 139 million euros. The new harvest volume guidance represents annual growth of 7.4 percent versus expected industry growth of 2.8 percent. Meanwhile, the supply outlook for the second half of 2026 is muted with an expectation of no industry growth, whilst growth in 2027 is forecast to be low in the range of 0-2 percent. Mowi also expects industry supply growth to be limited in the years thereafter due to regulatory and associated technological constraints. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com .

(RTTNews) - Mowi ASA (MOWI.OL, MNHVF), a Norwegian seafood company, on Tuesday reported a net loss in its second quarter, compared to prior year's profit. However, operational EBIT climbed with lower costs and an all-time high revenues, benefited by harvest volumes. Further, the firm trimmed fiscal 2026 harvest volume guidance due to the planned sale of assets in Canada East.

Loss for the period attributable to owners of Mowi was 164.0 million euros, compared to profit of 46.0 million euros last year. Basic loss per share was 0.31 euro, compared to prior year's profit of 0.09 euro.

Underlying earnings per share grew to 0.28 euro from 0.25 euro a year ago. In Norwegian kroner, underlying earnings per share were 3.08 kroner, up from 2.87 kroner last year.

EBIT loss was 71.7 million euros, compared to prior year's pofit of 81.8 million euros. Operational EBIT grew 23 percent to 231.3 million euros from 188.5 million euros a year ago. Operational EBIT margin improved to 14.5 percent from 13.5 percent last year.

Operational EBITDA increased to 292.8 million euros from 241.8 million euros a year earlier.

Operational revenue for the quarter increased to 1.599 billion euros from 1.394 billion euros in the prior year, driven by strong biological and operational performance, as well as record-high harvest volumes.

Harvest volumes were 149, 911 GWT, up from 133, 239 GWT last year..