By 2029, Mowi expects to reach EUR 8.5 billion in revenue, up from EUR 5.5 billion in 2023

Mowi Aims for Volume Growth and Cost Reduction at Capital Markets Day

Mowi, the world’s largest salmon producer, hosted a Capital Markets Day in Trøndelag, Norway, presenting its strategy to boost volume growth and cut costs by EUR 300-400 million.

The company plans to increase salmon production from 500,000 tonnes in 2024 to 600,000 tonnes by 2029. This will be achieved through better license capacity utilization and investments in post-smolt production to improve biological performance.

“We’re aiming for 600,000 tonnes by 2029, reinforcing our leadership in Atlantic salmon,” said CEO Ivan Vindheim, adding that Mowi has grown faster than the industry since 2018.

Focus on Cost Leadership

Alongside volume growth, Mowi is implementing an ambitious cost reduction plan. The company has already saved over EUR 300 million through initiatives since 2018 and plans to cut a further EUR 300-400 million by 2029.

“We must continue to be the cost leader across the value chain,” Vindheim said, stressing the importance of digitalization, automation, and efficiency improvements under Mowi’s 4.0 strategy.

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Sustainability and Smart Farming

Mowi also remains committed to sustainability, ranking as the world’s most sustainable animal protein producer for five consecutive years. Its post-smolt strategy improves fish welfare by increasing survival rates and reducing lice treatments. By 2029, 75% of smolt released in key regions will be post-smolt.

Mowi is further enhancing fish health and monitoring through Smart Farming technology, gathering real-time data on salmon behavior and wellbeing.

Growing Demand for Salmon

Vindheim highlighted rising global demand for salmon, driven by health trends and sustainability. Mowi expects demand growth to outpace supply, and its MOWI brand is working to innovate how salmon is sold. The company also aims to cut EUR 60 million in costs from its processing operations through Smart Factory initiatives.

By 2029, Mowi expects to reach EUR 8.5 billion in revenue, up from EUR 5.5 billion in 2023, driven by volume growth, competitive costs, and sustainability.

Read the report and video here

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