Q4 2025 Mowi ASA Earnings Call Transcript
Key Points
- Mowi ASA (MHGVY) reported a quarterly operational profit of €230 million on record high operating revenues of €1.59 billion, driven by seasonal record high harvest volumes.
- Production costs decreased by 5.8% year-over-year, with further cost reductions expected in 2026 due to strategic partnerships and improved efficiencies.
- The company announced a strategic feed partnership with Skretting/Nutreco, expected to save at least €55 million annually while retaining earnings in their profitable feed business.
- Mowi ASA (MHGVY) maintained its farming volume guidance for 2026 at 605,000 tons, representing an 8.3% growth year-over-year, indicating strong operational performance.
- The board of directors declared a quarterly dividend of €1.50 per share, reflecting confidence in the company's financial health and future prospects.
- The company faced a challenging year with soft prices due to unprecedented industry supply growth, impacting overall profitability.
- Biological issues in certain regions, such as gill and plankton problems in Norway's southernmost regions, affected operational performance.
- Mowi ASA (MHGVY) experienced losses in Canada due to high costs and biological issues, highlighting regional operational challenges.
- The company anticipates a temporary increase in P&L costs in the first half of 2026 due to seasonal factors and volume impacts.
- Despite strategic improvements, the feed cost savings will not fully impact the P&L until 2027, indicating a delay in realizing financial benefits.
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So after this energetic start to the day, good morning everyone, both in the room and online.
Thank you to Thank you that you are joining us this morning at our first quarterly presentation here at the Salmon, our new exhibition center and showroom at Arke Brigge in the heart of Oslo. The salmon is actually Norway's most visited exhibition center for farming of Atlantic salmon for natural reasons and came in with the Nova Sea acquisition. The salmon is also Oslo's best fish restaurant, according to TripAdvisor, so then it must be true.
Is always right about food and food experience. So if you happen to be in Oslo and you're looking for something good and healthy to eat, you now know where to go. And here we also finds only Moi cooler in Norway with an assorted selection of our fantastic products. So for those of you who are physically present in the audience this
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