Mowi nearly trebles Q4 operating profit
FISH farming giant Mowi almost trebled its operating profit (EBIT) on a lower global harvest during the final quarter of 2021, the company’s Q4 trading update reveals. The group reported an EBIT of 146m euros against 49m for the same period in 2020.
The total harvest was 115,000 tonnes against 127,000 tonnes 12 months earlier. The Mowi Scotland harvest was 1,000 tonnes lower at 12,000 tonnes.
Farming Norway produced 71,000 tonnes (Q4 2020: 8,500 tonnes); Farming Chile produced 16,500 tonnes (Q4 2020: 20,500 tonnes); Farming Canada 10,000 tonnes (Q4 2020: 12,500 tonnes); Farming Ireland 1,500 tonnes (Q4 2020: 1,000 tonnes) and Farming Faroes 4,000 tonnes (Q4 2020: 1,500 tonnes).
Mowi said the blended farming cost per kilo harvested was
4.62, a slight increase on 4.59 in the third quarter.
However, biological problems in eastern Canada are still taking a toll. Mowi said the operational EBIT was negatively impacted by 8m related to extraordinary mortalities in Canada East. This affected total margin in the quarter by 0.07 per EUR/kg.
The operational EBIT in Consumer Products was 26m (Q4 2020: 35m) and for Feed it was 8m in Q4 2021 (Q4 2020:
14m).