Mowi ASA Reports Record Q2 Harvest Volumes and 23% EBIT Growth
Event summary
- Mowi harvested 150,000 tonnes in Q2 2026, a 13% year-over-year increase and a record for the second quarter.
- Operational EBIT grew 23% to EUR 231 million, with blended farming costs decreasing by EUR 0.18 per kg.
- Norway and Canada led in Operational EBIT per kg at EUR 1.85 and EUR 2.05 respectively, while Ireland and Iceland reported negative margins.
- Net interest-bearing debt stood at EUR 2,807 million at the end of Q2 2026.
The big picture
Mowi's record Q2 harvest volumes and strong EBIT growth reflect its operational scaling in key markets like Norway and Canada. The company's ability to manage costs and regional performance disparities will be critical as it navigates broader industry trends, including input cost volatility and regulatory pressures on aquaculture operations.
What we're watching
- Operational Efficiency
- Whether Mowi can sustain its cost reduction efforts amid fluctuating input prices.
- Regional Performance
- How the company will address negative margins in Ireland and Iceland while capitalizing on strong performance in Norway and Canada.
- Debt Management
- The pace at which Mowi reduces its net interest-bearing debt to improve financial flexibility.