Mowi ASA (OSE:MOWI): Q3 2024 Trading update

15 Oct 2024 06:30 CEST

Harvest volumes Q3 2024 (1)

Farming Norway 106.0 thousand tonnes

Farming Scotland 15.0 thousand tonnes

Farming Chile 23.0 thousand tonnes

Farming Canada 7.0 thousand tonnes

Farming Ireland 3.5 thousand tonnes

Farming Faroes 3.0 thousand tonnes

Farming Iceland (Arctic Fish) 3.5 thousand tonnes

Total 161.0 thousand tonnes



Harvest volumes were all-time high 161k GWT in the quarter. In connection with
the presentation of the Q2 2024 results, Mowi ASA guided a total harvest volume
of 159.5k GWT for Q3 2024.

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

Additional information

Operational EBIT for the Group was approx. EUR 173 million in Q3 2024 (NOK
2,035 million / EURNOK 11.76). Blended farming cost was EUR 5.72 per kg in the
quarter which represented an improvement of EUR 0.12 per kg from EUR 5.84 per kg
in the second quarter. In Q3 2023 the cost was EUR 5.73 per kg.

Total Q3 Operational EBIT per kg through the value chain was approximately as
follows:

Norway EUR 1.40

Scotland EUR 0.85

Chile EUR 0.60

Canada EUR -0.55    (Canada East EUR 0.64)

Ireland EUR 1.20

Faroes EUR 0.60

Iceland EUR 0.40


Operational EBIT in Consumer Products was EUR 43 million. Operational EBITDA in
Feed was EUR 25 million in Q3 2024. Reported financial net interest-bearing debt
(NIBD) for the group was approximately EUR 1 770 million at the end of the
quarter (excluding IFRS 16 effects). The complete Q3 2024 report will be
released on 6 November 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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