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Mowi ASA ( (GB:0OAW) ) has issued an update.
Mowi delivered record fourth-quarter revenues of 1.59 billion euros and operational EBIT of 213 million euros, capping a record 2025 with all-time high annual revenues of 5.73 billion euros and harvest volumes of 559,000 tonnes, up 11.4%. Despite a year of unusually low salmon prices driven by 12% global supply growth, the group generated 727 million euros in operational EBIT and a 13.3% return on capital employed, underpinned by significant cost reductions in farming operations and continued scale-driven efficiency gains.
The company is pushing ahead with its volume-led strategy, expecting to harvest 605,000 tonnes in 2026, implying growth of 8.3% versus roughly 1% projected for the wider industry and supported by an 8.7% year-on-year increase in biomass in the sea. Management expects industry supply growth to normalise to about 1–2% annually, which, combined with solid demand trends, should tighten market balance and support pricing power for efficient producers like Mowi.
Mowi’s value-added processing arm, Mowi Consumer Products, posted record operational EBIT of 197 million euros in 2025 and record volumes of 265,000 tonnes, helped by strong salmon demand particularly in Asia and the Americas and a 30% increase in MOWI-branded volumes across 23 countries. The company’s feed division also reported record earnings, and a new strategic collaboration with Skretting is expected to secure best-in-class feed at lower cost, reinforcing Mowi’s cost leadership and operational resilience across its integrated value chain.
The board approved a fourth-quarter dividend of NOK 1.50 per share, signalling confidence in cash generation and balance sheet strength after a year of heavy investment and rapid growth. For investors and industry stakeholders, the results underscore Mowi’s ability to outgrow the market, lower unit costs and expand premium branded offerings at a time when structural constraints on global salmon supply point to a more favourable long-term pricing environment.
The most recent analyst rating on (GB:0OAW) stock is a Hold with a NOK220.00 price target. To see the full list of analyst forecasts on Mowi ASA stock, see the GB:0OAW Stock Forecast page.
More about Mowi ASA
Mowi ASA is one of the world’s leading seafood companies and the largest farmer of Atlantic salmon, operating a fully integrated value chain from feed to value-added products. Headquartered in Bergen, the group farms salmon in seven countries and markets seafood globally, partly under its MOWI consumer brand, with 2025 revenues of 5.7 billion euros and a workforce of 12,500 employees.
The company has a strong presence in key salmon growth markets across Europe, Asia and the Americas, and is ranked as the world’s most sustainable producer of animal protein. Its combination of farming, feed production and branded consumer products positions Mowi to capture value throughout the supply chain and to benefit from tightening long-term supply dynamics in the salmon industry.
Mowi leverages its global processing footprint and brand portfolio to expand the salmon category and shift more sales into value-added products. Listed on the Oslo Stock Exchange, it continues to pursue volume growth above industry rates, supported by biological improvements, scale efficiencies and strategic partnerships in feed.
Average Trading Volume: 970,125
Current Market Cap: NOK120.4B
For a thorough assessment of 0OAW stock, go to TipRanks’ Stock Analysis page.