Mowi ASA (OSE: MOWI): Q3 2021 Trade Update

Mowi ASA (OSE:MOWI): Q3 2021 Trade update

Harvest volumes Q3 2021 (1)

Agriculture Norway 71.0 thousand tons
Agriculture Scotland 15.0 thousand tons
Agriculture Chile 15.0 thousand tons
Agriculture Canada 11.0 thousand tons
Agriculture Ireland 2.0 thousand tons
Faroe Agriculture 3.0 thousand tons
Total 117.0 thousand tons

As part of the presentation of the results of the second quarter of 2021, Mowi ASA guided a total harvest volume of 110 thousand tons (GWE) for the third quarter of 2021.

To note:
(1) Harvest volumes are provided in eviscerated weight equivalents (GWE). Figures include salmonid species only.

Additional information

The Group’s operating EBIT amounted to around 131 million euros in the third quarter of 2021 (80 million euros in the third quarter of 2020). Operating EBIT was negatively impacted by 11 million euros related to extraordinary mortalities in Farming Canada, of which 6 million euros were caused by a plankton proliferation incident in Canada West and 5 million euros in connection with an oxygen deficiency incident in Canada East. The cost of mixed farming per kg harvested was 4.59 euros. Extraordinary mortalities in Farming Canada affected the total margin for the quarter by 0.09 EUR / kg.

Total operating EBIT per kg along the value chain was approximately as follows:

Norway EUR 1.40
Scotland EUR 0.90
Chile EUR 0.90
Canada EUR 0.00
Ireland EUR 1.85
Faroe EUR 0.85

Operating EBIT for Consumer Products amounted to € 22 million (€ 21 million in the third quarter of 2020) and Feed to € 10 million in the third quarter of 2021 (€ 12 million in the third quarter of 2020 ).

The published net interest-bearing financial debt (DNI) amounted to approximately € 1,150 million at the end of the quarter (excluding IFRS 16 effects).

The full third quarter 2021 report will be released on November 10 at 6:30 a.m. CET.

Please refer to the Annual Report for detailed descriptions and reconciliations of non-IFRS measures such as operating EBIT and NIBD.

This information is subject to disclosure requirements in accordance with Section 5-12 of the Norwegian Securities Law.


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