Mowi Reports Record Revenues and Volumes in Second Quarter
Mowi delivered a record-setting second quarter, supported by strong biological performance, improved operational efficiency, higher harvest volumes and favorable developments across its farming, processing and feed businesses. The global seafood company reported record-high revenues for the period, while lower costs and increased production helped drive a significant improvement in operating earnings compared with the same quarter last year.
Operational EBIT reached EUR 231 million in the second quarter, representing a 23% increase from the corresponding period in 2025. The performance reflects continued momentum across Mowi’s core operations and highlights the company’s progress in executing its long-term growth strategy.
Mowi CEO Ivan Vindheim said the company’s farming operations continued to generate strong biological and operational results. He particularly highlighted the performance of the company’s Norwegian and Scottish farming operations, where record production volumes were achieved alongside lower costs.
“Farming operations continue to deliver very strong biological and operational results. In particular, our Norwegian and Scottish operations are performing strongly, with record volumes and reduced costs, which is very encouraging,” Vindheim said.
A major contributor to the quarter’s performance was Mowi’s record salmon harvest. The company harvested approximately 150,000 tonnes of salmon during the second quarter, representing a 7.4% increase compared with the same period in 2025. The volume marked a seasonally record-high level for the company and reinforced the progress Mowi has made in expanding its farming operations.
The company views volume growth as a key strategic priority. According to Vindheim, Mowi has significantly increased its production capacity over a relatively short period, growing from a producer of around 400,000 tonnes to one capable of producing approximately 600,000 tonnes.
“It is gratifying to see that we continue to deliver on our growth strategy. Volume growth is one of Mowi’s strategic pillars, and growth within our farming operations has been strong in recent years. In just a few years, Mowi has grown from a 400,000-tonne producer to a 600,000-tonne producer,” Vindheim said.
The company’s improved results also came as salmon market conditions showed signs of strengthening. Following a period characterized by relatively low salmon prices due to exceptionally high industry supply, prices increased by 6% in the second quarter. The positive trend continued into the third quarter, with salmon prices so far increasing by 21% compared with the same period in 2025.
Mowi attributed the stronger pricing environment to healthy demand across several major markets, combined with a normalization of supply growth within the global salmon industry. The company expects supply growth to remain limited in the coming years, which could contribute to a more favorable balance between supply and demand.
Mowi believes that continued demand growth for salmon, together with more moderate industry supply expansion, should support market conditions over the longer term. The company therefore maintains a positive outlook for the salmon market.
“We expect limited supply growth for the industry in the years ahead. In combination with continued strong underlying demand for salmon, we believe this will result in a more balanced supply-demand situation than we have seen over the past 18 months, supporting our positive market outlook going forward,” Vindheim said.
Mowi’s downstream business, Mowi Consumer Products, also delivered a strong performance during the second quarter. The division recorded seasonally record-high revenues and benefited from solid operational execution and increased production volumes.
Consumer Products processed a record-high 74,000 tonnes during the quarter, an increase of 14% compared with the same period a year earlier. The growth reflects continued expansion in downstream activities as Mowi works to capture greater value across the salmon value chain.
Market demand for salmon also continued to strengthen during the quarter. Mowi reported that demand value increased by 9% in the second quarter compared with the same period in 2025. Growth was particularly strong in Asia, with China leading the expansion. European markets also showed positive development, while the United States continued to contribute to overall market growth.
Mowi expects salmon market growth to continue through 2026 and beyond. The company pointed to several long-term consumer trends supporting demand, including growing interest in healthier lifestyles, increased consumption of sustainable protein sources and the broad appeal of salmon among consumers.
According to Mowi, salmon benefits from its nutritional profile as well as its versatility, making it suitable for a wide range of meals, cuisines and consumer preferences. These characteristics are expected to support demand as consumers increasingly seek nutritious and sustainable food choices.
Mowi’s feed division also contributed to the strong quarterly performance. Mowi Feed recorded a seasonally record-high quarter in terms of both revenues and sales volumes. The increase was primarily driven by the continued growth of Mowi’s farming operations, which has generated higher demand for feed within the Group.
The performance across Mowi’s farming, consumer products and feed operations demonstrates the benefits of the company’s integrated business model. By operating across several stages of the salmon value chain, Mowi can support production growth while also increasing processing capacity and responding to evolving market demand.
The company’s strong second-quarter results also provide further evidence of progress under its growth strategy. Higher volumes, improved biological performance, lower costs and stronger market conditions combined to deliver improved profitability.
With salmon prices showing continued momentum in the early part of the third quarter and industry supply growth expected to remain limited, Mowi remains optimistic about the market outlook. The company expects underlying demand to remain strong and believes the market is moving toward a healthier supply-demand balance following the unusually high supply levels experienced over the past 18 months.
In addition to reporting its quarterly financial and operational performance, Mowi’s board has approved a dividend payment of NOK 2.30 per share for the second quarter. The dividend reflects the company’s continued commitment to returning value to shareholders while maintaining investment in its long-term growth strategy.
Overall, Mowi’s second-quarter performance was marked by record revenues, record seasonal salmon harvest volumes and strong results across its key business areas. The combination of operational improvements, increased production, growing consumer demand and improving salmon prices provides the company with a strong platform as it moves through the remainder of 2026.
Source Link:https://mowi.com/
