Norwegian salmon farmer Mowi has reported record-high revenues of €1.39 billion ($1.61 billion) for the second quarter of 2025, which translated into an operational profit of €189 million. The strong results were driven by record harvest volumes, strong biological performance, and decreasing costs, despite downward pressure on salmon prices.
The company harvested a record 133,000 tonnes in the second quarter, a 21 per cent increase compared with the same period last year. Following this strong performance, Mowi has increased its total volume guidance for 2025 to 545,000 tonnes. The company also noted that following a recent agreement to increase its ownership stake in Nova Sea, it now expects to harvest at least 600,000 tonnes as early as next year.
Ivan Vindheim, Mowi's CEO, highlighted that the company's production cost fell to its lowest level since 2022, which contributed €49 million to earnings in the quarter. He attributed this to lower feed prices and a range of cost-cutting measures.
The company's value-added divisions also performed well, with the consumer products business delivering its best quarter yet and the feed division reporting record-high earnings and volumes for a second quarter. The board has decided to pay a quarterly dividend of NOK1.45 per share.