Mowi Posts Record Q2 Revenue on Volume Growth and Higher Salmon Prices
Event summary
- Mowi reported record Q2 2026 revenue of EUR 1.6 billion, up 23% YoY, driven by strong biological and operational performance.
- Harvest volumes hit a seasonally record 150,000 tonnes, a 7.4% YoY increase, with Norwegian and Scottish operations performing strongly.
- Salmon prices rose 6% in Q2 and 21% YoY through Q3, supported by strong demand and industry supply normalization.
- Mowi Consumer Products and Mowi Feed also posted record revenues, with volumes up 14% and 7% YoY, respectively.
The big picture
Mowi's record Q2 performance reflects broader industry trends of supply normalization and rising salmon prices, reinforcing its position as the world's largest Atlantic salmon producer. The company's strategic focus on volume growth and operational efficiency aligns with megatrends favoring sustainable protein sources, particularly in high-demand markets like Asia. Investors will watch whether Mowi can sustain this momentum amid potential industry supply constraints.
What we're watching
- Supply-Demand Balance
- Whether limited industry supply growth and strong demand will sustain salmon price recovery.
- Volume Growth
- The pace at which Mowi can maintain its 7.4% YoY harvest volume growth amid industry constraints.
- Market Expansion
- How Mowi leverages demand growth in Asia, particularly China, to support long-term revenue trends.
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