Mowi ASA (OSE:MOWI): Q1 2023 Trading update

18 Apr 2023 06:30 CEST

Harvest volumes Q1 2023 (1)

Farming Norway 65.5 thousand tonnes

Farming Scotland 11.0 thousand tonnes

Farming Chile 10.5 thousand tonnes

Farming Canada 7.5 thousand tonnes

Farming Ireland 1.0 thousand tonnes

Farming Faroes 2.0 thousand tonnes

Farming Iceland (Arctic Fish) 5.0 thousand tonnes

Total 102.5 thousand tonnes



In connection with the presentation of the Q4 2022 results, Mowi ASA guided a
total harvest volume of 98 thousand tonnes (GWE) for Q1 2023.

Note:
(1) The harvest volumes are provided in gutted weight equivalents (GWE).

Additional information

Operational EBIT for the Group was approximately EUR 322 million in Q1 2023 (EUR
207 million in Q1 2022).

Total Operational EBIT per kg through the value chain was approximately as
follows:

Norway EUR 3.75

Scotland EUR 2.45

Chile EUR 1.50

Canada EUR 2.15

Ireland EUR 1.70

Faroes EUR 3.30

Iceland EUR 2.10



Operational EBIT in Consumer Products was EUR 37 million (EUR 21 million in Q1
2022). Operational EBITDA in Feed was EUR 6 million in Q1 2023 (EUR 1 million in
Q1 2022).

Reported financial net interest-bearing debt (NIBD) for the group was
approximately EUR 1 640 million at the end of the quarter (excluding IFRS 16
effects), of which EUR 79 million in Arctic Fish.

The complete Q1 2023 report will be released on 10 May at 06:30 CET.

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

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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