Mowi ASA
OSE:MOWI
Mowi ASA
Mowi ASA, formerly known as Marine Harvest, holds its place as a titan in the global seafood industry, distinguishing itself primarily in the salmon farming sector. This Norwegian giant weaves together a complex tapestry of operations, anchored in the sustainable and efficient farming of Atlantic salmon. Positioned strategically from Norway to Chile and Canada to Ireland, Mowi commands an impressive feat of aquatic agriculture. Through advanced aquaculture techniques, such as controlled feeding and enhanced breeding for optimal growth, the company minimizes its environmental footprint while ensuring consistent quality. It also employs sophisticated data analytics to monitor and manage the health of its stock, underscoring its commitment to sustainability and innovation.
The company's economic engine roars to life through several revenue streams. At its core, Mowi generates income by breeding, growing, and harvesting salmon, which is then processed into various forms, including fresh, frozen, and smoked products, catering to diverse consumer preferences. Mowi also maneuvers through other markets by providing feed and genetic services, reflecting its vertically integrated business model. Retail partnerships and its own brand presence in supermarkets worldwide amplify its reach, further cementing its financial stability. With an eye on expanding its portfolio, Mowi commits to research and development to enhance production efficiencies and reduce costs, thereby strengthening its profitability. The result is a finely tuned operation that capitalizes on the soaring global demand for healthy, protein-rich seafood, allowing Mowi ASA to not only survive but thrive at the forefront of the aquaculture industry.
Mowi ASA, formerly known as Marine Harvest, holds its place as a titan in the global seafood industry, distinguishing itself primarily in the salmon farming sector. This Norwegian giant weaves together a complex tapestry of operations, anchored in the sustainable and efficient farming of Atlantic salmon. Positioned strategically from Norway to Chile and Canada to Ireland, Mowi commands an impressive feat of aquatic agriculture. Through advanced aquaculture techniques, such as controlled feeding and enhanced breeding for optimal growth, the company minimizes its environmental footprint while ensuring consistent quality. It also employs sophisticated data analytics to monitor and manage the health of its stock, underscoring its commitment to sustainability and innovation.
The company's economic engine roars to life through several revenue streams. At its core, Mowi generates income by breeding, growing, and harvesting salmon, which is then processed into various forms, including fresh, frozen, and smoked products, catering to diverse consumer preferences. Mowi also maneuvers through other markets by providing feed and genetic services, reflecting its vertically integrated business model. Retail partnerships and its own brand presence in supermarkets worldwide amplify its reach, further cementing its financial stability. With an eye on expanding its portfolio, Mowi commits to research and development to enhance production efficiencies and reduce costs, thereby strengthening its profitability. The result is a finely tuned operation that capitalizes on the soaring global demand for healthy, protein-rich seafood, allowing Mowi ASA to not only survive but thrive at the forefront of the aquaculture industry.
Record Volumes: Mowi posted record-high harvest volumes and operational revenues in Q4, beating its own guidance with 152,000 tonnes harvested and EUR 1.59 billion in revenue.
Profitability: Operational profit for Q4 was EUR 213 million, with annual operational profit at EUR 727 million. Full-year operational EBITDA reached EUR 949 million.
Cost Reduction: Production costs fell 5.8% year-over-year, saving EUR 176 million in 2025. Feed partnership with Skretting is expected to save at least EUR 55 million annually going forward.
Dividend: The Board declared a quarterly dividend of NOK 1.50 per share after Q4.
Volume Guidance: Mowi reaffirmed its 2026 farming volume guidance of 605,000 tonnes (+8.3% YoY) and its 2029 target of at least 650,000 tonnes.
Strong Balance Sheet: Net interest-bearing debt rose to EUR 2.65 billion after the Nova Sea acquisition, but equity ratio stands at 45%. New long-term debt target is EUR 2.7 billion.
Market Outlook: Industry supply growth is expected to slow to 1% in 2026, with demand forecast to continue outpacing supply.
