Mowi reports record 2026 Q1 harvest, but algae impacts prove expensive
Salmon farmer Mowi has recorded a 26% increase in its first quarter harvest this year, with Scotland making a major contribution.
The company has also disclosed, however, that the algae attacks which hit southern Norway last month cost the world’s largest Atlantic salmon farmer around 10 million euros (£8.7m). Despite this setback, Mowi’s Norway division made good progress in the first part of this year.
Mowi’s global harvest of 136,000 tons gutted weight against 108,000 tons last year, was a record high first quarter figure.
The operational EBIT for the Group was approximately 221 million euros (£192m) against €214 million (£186m) in Q1 last year.
The regional breakdown was (Q1 2025 figures in brackets):
- Farming Norway 75,500 tons (62,000 tons)
- Farming Scotland 20,500 tons (15,500 tons and up from 14,500 tons in Q1 2024.
- Farming Chile 21,000 tons (14,000 tons)
- Farming Canada 8,000 tons (5,000 tons)
- Farming Ireland 2,000 tons (2,500 tons)
- Farming Faroe Islands 3,000 tons (4,000 tons)
- Farming Iceland (Arctic Fish) 6,000 tons (3,000 tons)
The total Q1 operational EBIT per kilo, throughout the value chain, was approximately as follows: Norway €2.40 euros; Scotland €1.50; Chile €0.35; Canada €(loss of 0.10); Ireland €0.10, Faroes €0.95 and Iceland €0.35.
The operational EBIT in Consumer Products was €13 million lower at €20 million (£7.3m) while operational EBITDA in Feed was €6 million (£5.2m) for the quarter.
The complete Q1 2026 report will be released on 13 May.
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