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Mowi achieves record revenue and raises operating profit in Q2 2026 despite weak salmon prices

Mowi reports a Q2 2026 revenue record of EUR 1.60 billion and an operating profit of EUR 231 million (up 23% year‑on‑year), with operating earnings per share of EUR 0.28. Harvest volume reached a seasonal 150,000 tonnes, costs fell by 3.5% and helped offset weaker spot prices. The company cut its volume target to 600,000 tonnes for 2026 after selling Mowi Canada East, but still expects annual growth of 7.4% and sees limited supply growth as a price buffer. Risks remain in the form of price pressure, rising feed costs, biological problems mainly in Chile, and high net debt. » More on de.investing.com
Kepler downgrades Mowi to 'hold' over rising cost concerns

Kepler Cheuvreux downgraded Mowi shares from 'Buy' to 'Hold' and cut the price target from 225 to 200 NOK. Despite a strong second quarter with an operating EBIT of €231m, Kepler cites increasing cost pressure, notably higher prices for fishmeal and fish oil. Kepler expects rising farming costs (+8% in 2027, +1% in 2028), lowered revenue and EBIT estimates for 2026–2027 as well as EPS forecasts significantly, and sees the risk-reward balance as increasingly skewed; the stock fell about 0.8%. » More on de.investing.com
Mowi increases operating EBIT and achieves record harvest in second quarter

Mowi reports preliminary operating EBIT of EUR 231 million in Q2 2026, up 23% year-on-year. Harvest volume reached a Q2 record of 150,000 tonnes, 13% above the year-ago quarter and well above the previously communicated guidance of 140,000 tonnes. Average farming costs fell to EUR 5.21/kg (previously EUR 5.39/kg), which, together with the volume increase, boosted the share price by around 3.3% to NOK 194.7; the full Q2 report is expected on 18 August. » More on de.investing.com

Historical dividends Dividends

All dividend metrics All metrics

In 2026, Mowi has already paid €0.55 in dividends. The last payout was in September.

Financials

In the last quarter, Mowi had revenue of €1.55bn and net profit of -€158.75m

(EUR)	June 2026	YoY
Revenue	1.55bn	11.07%
Gross profit	494.73m	11.56%
Net profit	-158.75m	445.10%
EBITDA	333.95m	65.90%

Fundamentals

Metric	Value
Market capitalization	€10.34bn
Number of shares	527.29m
52-week high/low	€21.66 - €15.70
Dividend yield	3.33%
Dividends TTM	€0.69
Beta	0.61
P/E ratio	16.68
PEG ratio	0.19
P/B ratio	2.55
P/S ratio	1.78

Company profile

Mowi ASA, a seafood company, produces and supplies farmed salmon products worldwide. The company operates through three segments: Feed, Farming, and Sales and Marketing. It is involved in the salmon feed production, salmon farming and primary processing, and seafood secondary processing activities. The company offers whole gutted fish, including Label Rouge and organic salmon; and white fish and other seafood products, as well as fillets, steaks, cutlets, portions, loins, kebabs, and steak combos. It also provides value added products, such as breaded, pre-fried, dusted, marinated, grilled, battered, topped, filled with sauce, delicatessen, fresh fish ready meal, and smoked fish products. The company offers its products under the Mowi, Mowi Salmon, Donegal Silver, Admiral's, Pieters, Laschinger, Kritsen, Ducktrap River, Harbour Salmon Co., Rebel Fish, Supreme Salmon, Olav's, Northern Harvest, and Mowi Nutrition brand names. The company was formerly known as Marine Harvest ASA and changed its name to Mowi ASA in December 2018. Mowi ASA was founded in 1964 and is headquartered in Bergen, Norway.