Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
If you would like to send us an article, contact Margaret Stacey
   


The third quarter was overshadowed by the Norwegian government’s proposed resource rent tax of 40% on salmon farming.

Yet Another Record-Breaking Quarter for Mowi, Overshadowed by Infamous Tax Proposal

  (NORWAY, 11/9/2022)

Mowi recorded record-high revenues of 1257 million euros in the third quarter of 2022. Operational profit was 240 million euros, compared with 131 million euros in the corresponding quarter of 2021.

Despite another set of new operational and financial records for Mowi, the third quarter was unfortunately overshadowed by the Norwegian government’s proposed resource rent tax of 40% on salmon farming, or 62% including corporate tax.

 Ivan Vindheim.

“The aquaculture industry is of great importance for the future of Norway, and it is in the nation’s best interests to see it grow. However, a tax rate of 62% will put an end to most of the many significant investment plans along the Norwegian coast, leading not only to reduced local employment levels now and in the future, but also to a massive diversion of funds away from coastal communities,” Mowi CEO Ivan Vindheim said.

Until agreement has been reached on a more viable framework for the industry, Mowi has been forced to put all new structural investments in Mowi Norway on hold.

“Mowi is a global company and salmon farming is not bound by geography – it can take place in sea and on land anywhere in the world, close to its major markets. If the proposal for 62% tax is approved by parliament, Norway stands to lose its leading position within aquaculture to other countries,” Vindheim said.

Mowi reported operational EBIT of EUR 240 million in the third quarter of 2022, which is the company’s third best quarter ever up from EUR 131 million reported in the corresponding quarter in 2021. Operational revenues in the quarter were all-time high at EUR 1 257 million (EUR 1 035 million).

Total harvest volume in the quarter was 133 808 tonnes gutted weight (117 115 tonnes), slightly above guidance of 131 000 tonnes. Full-year harvest guidance for 2022 is unchanged at 460 000 tonnes. Next year, Mowi expects to harvest 470 000 tonnes.

Results within Mowi Farming were good in the quarter due not only to strong prices and record-high volumes, but also relatively stable farming costs compared with the previous quarter.

Mowi ASA is one of the largest seafood companies in the world, and the world’s largest producer of Atlantic salmon.

“I am pleased that our farming operations experienced good growth performance in sea with improved production and feed conversion ratio, clear evidence that the organisation continues to deliver good biological results. Mowi’s relentless focus on farming volume growth, cost leadership and superior sustainability credentials continues unabated,” Vindheim said.

Consumer Products delivered record-high operational profit of 30 million euros on solid operational performance across Mowi’s processing plants in Europe, Americas and Asia.

“Salmon normally fares well in challenging economic times and overall retail demand has so far continued to develop favourably. We expect the retail channel to continue to grow in the years ahead supported by unlocking the value potential in salmon as a value-added product,” Vindheim said.

Mowi produces the highest-quality salmon: its products range from whole fish, to plain or marinated fillets and steaks, to hot- and cold-smoked salmon, all the way through to succulent burgers and delicate tartars.

Mowi has recently entered into an agreement to acquire a majority stake in Arctic Fish. The company is a leading salmon farmer in Iceland, situated in the West Fjords where conditions are favourable for salmon farming.

“The acquisition follows our strategy to grow farming volumes and completes our geographical farming footprint. Icelandic salmon volumes are expected to grow significantly in the years to come, and Arctic Fish is well positioned to take part in this growth journey,” Vindheim said.

Mowi’s Board has decided to pay a quarterly dividend of NOK 1.70 per share, supported by a strong financial position and a favourable outlook.

More than 6 million Mowi meals are enjoyed around the world every day.
About Mowi ASA
 
Mowi is one of the world's leading seafood companies and the largest producer of farm-raised salmon in the world with 466,000 GWT harvested in 2021 in six farming countries including Norway, Scotland, Ireland, Faroes, Canada and Chile.

As the first global seafood company with an end-to-end supply chain, Mowi brings supreme quality salmon and other seafood to consumers around the world, partly under our own MOWI brand. Mowi is ranked as the most sustainable animal protein producer in the world by Coller FAIRR.

With headquarters in Bergen, Norway, Mowi employs 11,500 people in 25 countries worldwide, and is listed on the Oslo Stock Exchange. Turnover was EUR 4.2 billion in 2021.

Source: Mowi

Previous News

[email protected]
www.seafood.media


Information of the company:
Address: Stortingsgaten 8
City: Oslo
State/ZIP: (N-0161)
Country: Norway
Phone: +47 21 56 20 00
Fax: +47 21 56 20 01
E-Mail: [email protected]
More about:


Location:

View Larger Map


Approval / Accreditation / Certified / Oversight by...
HACCP  Organic Soil Assoc/UK  E.U.  USDA/USDC & FDA  RF (Russia)  EFSIS/European Food Safety Inspection Service 



 Print


Click to know how to advertise in FIS
MORE ARTICLES
Sea Harvest Delivers Resilient Results in a Difficult Trading Environment
Atlanta DeMedici Group Expands Galician Conservas Portomar Tinned Seafood Selection
Sealord to Become New Zealand’s Biggest Seafood Business
Giving New Life to Discarded Fishing and Fish Farming Equipment
Clean Net 24/7: Better for the Fish and Your Profitability
New Champion Trawl Door from Morgère Delivers Fishing Benefits
Aldi and the MSC Give Insight into How you Can Enjoy Seafood Sustainably
The Kingfish Company Reports Higher Revenue for Half Year Ended June 30, 2023
Real-time Monitoring of Weight, Welfare and Lice
J-HOTATE Association to Exhibit at Seafood Expo Asia
New ROV with Cost-effective Net Inspections
Techano Oceanlift Deliveres Offshore Cranes for Aquaculture
PartnerPlast Becomes Ovun
Singapore's Happiee! Brand Enters UK Market
Infor Feeds into Digital Strategy at Nutreco
Moleaer Expands into Norway to Support Sustainable Aquaculture
CULT Food Science and Umami Bioworks Reveal World's First Cat Treat with Cell-Cultivated Fish
Bakkafrost Scotland Boosts Fish Farming Fleet with the Delivery of New Workboat
Insurance Brokerage Newfront Taps Jessica Graves to Lead Renowned Maritime Team
Wanchese Fish Company Adds New Scallop Vessel for Argentina
More Articles...

Lenguaje
FEATURED EVENTS
  
TOP STORIES
CAPECAL organized a discussion on the current panorama of Giant Squid in Peru
Peru In order to have full knowledge of the reality of Giant Squid, the Peruvian Chamber of Giant Squid (CAPECAL) recently organized the discussion: “The Pending Agenda for the Consolidation of the S...
Europêche calls for a level playing field at EU-China Blue Forum
European Union The Chinese Ministry of natural resources and the European Commission organised last Saturday in Shenzhen (China) the second Ocean Forum under the EU-China Blue Partnership for the Oceans. The goal: t...
Germany ranked 2nd in importing Vietnamese pangasius in the EU
Viet Nam According to statistics from Vietnam Customs, accumulated in the first 8 months of 2023, pangasius exports to Germany reached 23 million USD, up 19% over the same period last year, accounting for 2%. ...
Solomon Islands joins China in blasting Japan over Fukushima water release
United States Prime Minister Manasseh Sogavare called on Japan to find other options and warned of effects on his South Pacific archipelago Beijing earlier accused Tokyo of treating the ocean as a ‘sewer&rsq...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2023 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER