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Mowi Reports Q2 Results and Outlook for the Future
Mowi, the world's largest salmon producer, has released its Q2 results, showcasing a mixed performance in a challenging market environment.
The company's revenue for the quarter reached 1.39 billion euros, marking a four percent increase compared to the same period last year. This growth was driven by a 21 percent year-on-year increase in production, with Mowi harvesting 133,000 tonnes of salmon.
However, the operating margin dropped from 17.1 to 13.5 percent, reflecting the ongoing market challenges. The operating profit fell by 19 percent to 189 million euros. Despite this, the production costs have fallen to their lowest level since 2022, contributing 49 million euros to the result.
Looking ahead, Mowi has announced its plans to increase global salmon production to 600,000 tonnes by 2026. This ambitious goal is set to be achieved through vertical integration, global expansion, and increasing its ownership in Nova Sea to 95%, supporting strong seawater growth and organic volume growth initiatives.
The CEO of Mowi, Ivan Vindheim, stated that the first half of 2025 has been good for the farming business. He also mentioned that the cost-saving measures taken by the company are expected to contribute 67 million euros to the first half of 2025.
Mowi has raised its production forecast for the year to 545,000 tonnes, a nine percent increase from 2024. The company aims to harvest at least 600,000 tonnes next year, a ten percent increase from 2026.
In terms of financial performance, no new forecasts or targets for Mowi's production, revenue, profit, margin, or cost were mentioned in the latest announcement.
On the stock market front, Mowi's shares are trading under the WKN: 924848. The performance of the stock indicates a positive trend, with the company nearing a fresh buy signal. A stop-loss for Mowi's stock is suggested at 13.50 euros for those betting on the buy signal.
In conclusion, while Mowi's Q2 results showed some challenges, the company remains committed to its growth strategy and is optimistic about the future. The stock market performance suggests a positive outlook for Mowi's future prospects.
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