Mowi ASA

Earnings Release • Jul 15, 2019

Mowi ASA (OSE:MOWI): Q2 2019 Trading update

Mowi ASA (OSE:MOWI): Q2 2019 Trading update

Harvest volumes Q2 2019 (1)

Farming Norway 51.5 thousand tonnes

Farming Scotland 16.0 thousand tonnes

Farming Canada 12.5 thousand tonnes

Farming Chile 15.0 thousand tonnes

Farming Ireland 2.0 thousand tonnes

Farming Faroes 1.5 thousand tonnes

Total 98.5 thousand tonnes

In connection with the presentation of the Q1 2019 results, Mowi ASA guided a

total harvest volume of 98 thousand tonnes (GWE) for Q2 2019.

Note:

(1) The harvest volumes are provided in gutted weight equivalents (GWE). The

figures include salmonid species only.

Additional information

Operational EBIT for the Group was approximately EUR 208 million in Q2 2019 (EUR

175 million in Q2 2018).

With reference to the stock market announcement published on 23 May related to

rebuilding of the Kritsen smokehouse in Landivisiau, France. A restructuring

provision of EUR 19 million for industrial and social reorganization will be

recognized under Restructuring cost, impacting Financial EBIT in the second

quarter. The insurance settlement process is delayed, and the recognition of the

insurance income will be deferred accordingly.

Total Operational EBIT per kg through the value chain was approximately as

follows:

Norway EUR   2.45

Scotland EUR   2.90

Canada EUR   0.85

Chile EUR   1.85

Ireland EUR   2.65

Faroes EUR   2.65

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 110

million at the end of the quarter (excluding IFRS 16 effects).

The complete Q2 2019 report will be released on 21 August at 06:30 CET.

Please refer to the Annual Report for detailed descriptions and reconciliations

of non-IFRS measures such as Operational EBIT and NIBD.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.