Mowi ASA Reports Record Revenues and Strategic Growth

Mowi ASA ( (MHGVY) ) has released its Q4 earnings. Here is a breakdown of the information Mowi ASA presented to its investors.

Mowi ASA is a leading seafood company specializing in the production and processing of Atlantic salmon, operating across various locations worldwide to ensure sustainable and high-quality aquaculture. In its fourth-quarter earnings report for 2024, Mowi ASA reported a record-high operational EBIT of EUR 226 million and an impressive financial EBIT of EUR 356 million, demonstrating robust operational performance across all its business areas.

The company achieved a record-high Q4 revenue of EUR 1,502 million, with annual revenue reaching EUR 5,617 million. Harvest volumes were at an all-time high for both Q4 and the full year, and Mowi increased its 2025 volume guidance to 530,000 GWT, reflecting positive biomass developments. Mowi also announced a significant increase in its ownership of Nova Sea to 95% and declared a quarterly dividend of NOK 2.00 per share.

Key financial metrics indicate strong performance with a rise in operational EBIT from EUR 203.1 million in the same quarter the previous year. Despite a decrease in full-year operational EBIT compared to 2023 due to lower price achievements, Mowi’s strategic focus on operational efficiency and biomass improvements has positioned it well for future growth. The company also completed its 2024 cost savings program, achieving annual savings of EUR 42 million, and initiated a new global cost improvement program for 2025.

Looking ahead, Mowi ASA is optimistic about its growth prospects, supported by record-high biomass levels and promising market conditions for salmon prices. The company’s strategic initiatives, including the acquisition of a controlling stake in Nova Sea and ongoing cost-saving efforts, are expected to further strengthen its market position and financial performance.