Mowi Q2 2026 Financial Results
Mowi ASA announced that its second‑quarter 2026 results swung to a net loss of €165.7 million, a reversal from the €41.5 million profit recorded in the same quarter a year earlier. Underlying earnings per share increased to €0.28 from €0.25 a year ago, surpassing the Visible Alpha consensus estimate of €0.26.
Revenue reached a record €1.60 billion, marginally below the consensus forecast of €1.61 billion. Operational EBIT rose 23% to €231.3 million, exceeding the analyst estimate of €226.9 million.
The core salmon‑farming segment delivered a record harvest of 149,911 gross weight tonnes (GWT), up from 133,239 GWT in Q2 2025, while blended farming costs fell to €5.20 per kilogram from €5.39 per kilogram, reflecting stronger biological performance and higher volumes.
The headline loss was driven by a €193 million negative fair‑value adjustment on salmon biomass and a €97.1 million impairment and write‑down primarily associated with the Canada East divestment. Mowi indicated that the Canada East business will be classified as “held for sale” pending regulatory approval.
Guidance for the full year was revised downward, with the harvest‑volume target reduced to 600,000 GWT from the previous 605,000 GWT. The company noted that salmon spot prices rose 6% year‑over‑year in Q2 and were already 21% higher in Q3, while industry supply growth is expected to fall to zero for the remainder of 2026.
Mowi expects realised farming costs to remain stable in the third quarter but warned of inflationary pressure on feed raw materials. The board declared a quarterly dividend of NOK 2.30 per share, up from NOK 1.70 per share in the comparable period last year.