Mowi reports Q1 earnings rise

MOWI has reported increased earnings and higher than estimated volumes in the first quarter of 2019.
The firm’s preliminary operational earnings before interest and tax rose 23 per cent year-on-year to 194 million euros for the January to March quarter, up from EUR 158 million in the same period last year.
Mowi’s output was 104,000 tonnes in the quarter, above its guided volume of 102,000 tonnes. More than half its output, 56,000 tonnes, came from Norway.
Scotland produced 15,500 tonnes in gutted weight equivalents (GWE), while Chile’s total for the quarter was 20,000 tonnes, Canada produced 10,000 tonnes, Ireland 1,500 tonnes and the Faroes 1,000 tonnes.
Total operational EBIT per kg for Norway was 2.05 euros, for Scotland it was 2.25, Chile 1.45, Canada 1.40, the Faroes 1.70 – and Ireland’s organic operations were an impressive 4.35 euros per kg.
The complete Q1 2019 report will be released on May 7 at 06:30 CET.
Picture: Mowi CEO Alf-Helge Aarskog in Edinburgh last year