Mowi ASA (OSE:MOWI): Q4 2023 Trading update

18 Jan 2024 06:30 CET

Harvest volumes Q4 2023 (1)

Farming Norway 81.0 thousand tonnes

Farming Scotland 10.5 thousand tonnes

Farming Chile 27.5 thousand tonnes

Farming Canada 4.0 thousand tonnes

Farming Ireland - thousand tonnes

Farming Faroes 3.5 thousand tonnes

Farming Iceland (Arctic Fish) 2.5 thousand tonnes

Total 129.0 thousand tonnes



Full year harvest volumes were record-high 475 thousand tonnes in 2023 versus
464 thousand tonnes in 2022.

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

Additional information

Operational EBIT for the Group was approximately EUR 203 million in Q4 2023 (NOK
2.4 billion, NOKEUR 11.65) versus EUR 239 million in Q4 2022 (NOK 2.5 billion,
NOKEUR 10.39). Blended farming cost was EUR 5.58 per kg in the quarter.

Full year Operational EBIT in 2023 was record-high at approximately EUR 1 028
million (NOK 11.7 billion, NOKEUR 11.42), versus EUR 1 005 million (NOK 10.2
billion, NOKEUR 10.10) in 2022.

Total Q4 Operational EBIT per kg through the value chain was approximately as
follows:

Norway EUR 2.40

Scotland EUR (0.10)

Chile EUR 0.40

Canada EUR (1.20)

Ireland EUR -

Faroes EUR 2.15

Iceland EUR 1.30

Operational EBIT in Consumer Products was EUR 38 million (EUR 43 million in Q4
2022). Operational EBITDA in Feed was EUR 16 million in Q4 2023 (EUR 21 million
in Q4 2022). Reported financial net interest-bearing debt (NIBD) for the group
was approximately EUR 1 790 million at the end of the quarter (excluding IFRS
16 effects). The complete Q4 2023 report will be released on 14 February 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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