Mowi achieved an EBIT of approximately EUR 211 million in the fourth quarter of 2018,
MOWI increases operating profit by 16 percent in T4
Thursday, January 17, 2019, 21:30 (GMT + 9)
Mowi ASA achieved an operating profit (EBIT) of approximately EUR 211 million in the fourth quarter of 2018, 16.6 percent more than in the same period the previous year, when it obtained EUR 181 million.
The company highlighted that the operating EBIT includes insurance income of approximately EUR 10 million related to property damage in Mowi Kritsen.
The total salmon harvest volume amounted to 106,000 tonnes (eviscerated weight equivalent - GWE) in the analyzed quarter, 4 per cent percent below the 110,500 tonnes (GWE) harvest that Mowi ASA had estimated for this period when it published the results of the third quarter of 2018.
Mowi's salmon process plant in Hjelmeland, Norway, before the renovation. (PHOTO: Sysla)
The harvest volumes that the group obtained in the fourth quarter of 2018 in the different countries where it operates were:
|| 59,000 t
|| 12,000 t
|| 12,000 t
|| 17,000 t
|| 1,500 t
|| 4,500 t
|| 106,000 t
Mowi ASA also reported that operating EBIT per kg through the value chain was approximately as detailed below for the main sources of origin:
- Norway: EUR 2.45
- Scotland: EUR 2.30
- Canada: EUR 1.45
- Chile: EUR 1.25
- Ireland: EUR 2.45
- Faroe Islands: EUR 1.35
The net financial debt declared (NIBD) was approximately EUR 1,040 million at the end of the quarter.
Mowi ASA will present a full report on the results of the fourth quarter of 2018 on February 13.