Mowi ASA lifted its 2026 salmon harvest target by 20,000 tonnes after record third-quarter output, projecting growth that would outpace the 4% expansion it expects for the industry.
The Bergen-based company said Wednesday it now expects to harvest 620,000 tonnes this year, up from its previous forecast of 600,000 tonnes. Mowi said the revised target would put its annual harvest 11% above last year’s level. It identifies volume growth as one of its strategic priorities.
Mowi harvested 186,000 tonnes in the third quarter, a 12% increase from a year earlier. Its third-quarter harvest and earnings figures included record revenue of €1.73 billion and operational earnings before interest and taxes of €275 million, the highest for a third quarter. Farming costs fell by €51 million from the same period last year.
Mowi Consumer Products, the company’s processing division, handled a record 84,000 tonnes, up 18% year over year. The company said its feed business recorded a 33% rise in results and sold 19% more volume, supported by favorable biological conditions for its farming operations in Norway and Scotland.
Mowi says it operates salmon farms in seven countries and employs 11,500 people across 26 countries. The company has described its integrated operations, which span farming and processing, as a source of flexibility. It said demand for its products was strong in the quarter and expects positive development ahead.
Mowi’s board approved a quarterly dividend of 2.30 Norwegian kroner per share.
