(Bergen, 20 August 2025) Mowi generated operating revenues of EUR 1.39 billion in the second quarter which translated into an operational profit of EUR 189 million.
The second quarter of 2025 ended with record-high revenues for Mowi, on strong biological and operational performance, all-time high volumes and decreasing cost.
“2025 has so far been a good year for the Farming division with very good operations and strong growth,” said Mowi CEO, Ivan Vindheim.
Mowi harvested a record 133,000 tonnes in the second quarter, representing growth of 21% compared with last year. The company has consequently increased its volume guidance for 2025 to 545,000 tonnes on strong seawater growth, equivalent to annual growth of 9% from 2024.
“It is satisfying to see that we are delivering on our strategy. With the recently concluded agreement to increase our ownership stake in Nova Sea from 49% to 95%, we expect to harvest at least 600,000 tonnes as early as next year, equivalent to a growth of 10% in 2026, and we are rapidly approaching our next milestone of 400,000 tonnes in Norway alone,” said Vindheim.
In just a few years Mowi will have gone from producing 400,000 tonnes per year globally to producing 600,000 tonnes in 2026. This is equivalent to annual growth of 6.1%, compared with the industry average of 3.3%. This growth has mostly been achieved organically and Mowi still has a number of organic growth initiatives that are expected to contribute to further volume growth going forward. At the same time as Mowi’s volumes have grown, the total number of man-years has decreased and productivity increased by 36%.
“It is extremely encouraging to see our production cost fall in the second quarter to its lowest level since 2022, something which has contributed EUR 49 million to earnings in the quarter. For the first half of 2025 this effect increases to EUR 67 million. This is in part the result of lower feed prices, but also reflects a range of cost-cutting measures undertaken by the organisation over time. I …