Mowi Reports Record Q2 Revenue on Strong Volume Growth and Rising Salmon Prices
Event summary
- Mowi reported record Q2 revenue of €1.6 billion, up from €1.4 billion in Q2 2025, driven by strong biological and operational performance.
- Operational EBIT reached €231 million, a 23% increase year-over-year, supported by record-high volumes and lower costs.
- Total salmon volumes hit 150,000 tons, a 7.4% year-over-year increase, with Norway and Scotland leading growth.
- Salmon prices rose 6% in Q2 and 21% year-to-date, driven by strong demand and industry supply normalization.
- Mowi Consumer Products reported record Q2 volumes of 74,000 tons, a 14% year-over-year increase.
The big picture
Mowi's record Q2 performance reflects broader industry trends of supply normalization and strong global demand for sustainable protein sources. The company's strategic focus on volume growth and operational efficiency positions it well in a consolidating aquaculture market, though it must navigate rising input costs and competitive pressures. With salmon prices rebounding, Mowi's ability to maintain margins will be a key factor in its long-term growth trajectory.
What we're watching
- Market Dynamics
- Whether Mowi can sustain volume growth amid industry-wide supply normalization and shifting demand patterns.
- Pricing Trends
- How rising salmon prices will impact margins and whether the trend is sustainable through 2026.
- Strategic Expansion
- The pace at which Mowi can scale its 600,000-ton production capacity while maintaining operational efficiency.