Capital Markets Day
Why are we here today? MOWI
- Global brand strategy propose new company name MOWI
- Integrated value chain important for the success of the brand
- Increased value creation for consumers and our share holders
- Increased focus on quality and differentiation
- The future of salmon, MOWI
Brand opportunity
Branding Objectives
€ 35m Brand investment in next 2 years
in branded turnover by 2025 € 1bn
€ 100m
additional EBIT (cash break even by 2022)
The MOWI value chain
MOWI breeding network
MOWI - clear benefits to control breeding
Animal Breeding - Heritability
Heritability
(h2
) |
h2
= 1 means everything is explained by genetics |
|
h2
= 0 means everything is explained by environment |
Genotype Environment Phenotype
The good news for MOWI
Good news: Quality traits higly heritable
Good news: Breeding can permanently impact the quality of the salmon
H2= 0.35 H2= 0.47
MOWI feed
MOWI feed
- "MOWI recipe"
- High in Omega 3
- Specific mix of vitamins and natural color
- Proactive food safety programs, such as marine oil cleaning
MOWI farming network
MOWI fish will be raised in selected MOWI farms
Our farmers are out there every day caring for the fish you eat
MOWI VAP processing, sales & marketing network
MOWI – Processing and sales
- Efficient processing facilities in 24 countries, close to the consumer
- High level on food safety and traceability, all certified.
- Competent teams dedicated to product development in all markets
- Through advanced grading and specific quality criteria we can select the best MOWI fish for you.
- Highly competent marketing/sales organization with global outreach
- Specialized our branding capability
Key drivers in MOWI products
MOWI Summary
- Increased value creation for consumers and our share holders
- Company name the same as the brand
- Long term projects with clear targets, 2025 > EUR 1 BN of sales as branded, > EUR 100 m EBIT above normal salmon
- Increased focus on quality
-
The value chain responsible for the success of the brand
-
We have built inhouse branding competence, and will in 2019 launch the MOWI concept that is the salmon for the future
- The MOWI story and content is impossible to copy
- We can through our people and our unique value chain, offer the consumer a salmon experience no one can match!
Thanks
The category opportunity
Our commercial strategy
• What?
- achieve a price/margin above our competitors in the market
• How?
- Strategic partnership with key clients based on MHG unique capabilities
- Brands
Our global VAP processing, sales & marketing network
Turnover EUR millions)
Marine Harvest Sales & Marketing: top line growth and improved margins
Branding will turn our integrated value chain into shareholders value
Key consumer trends supporting the MOWI brand
• Consumer trends in food
• Based on our unique value chain
- And delivering the message in an engaging and relevant way TRACEABILITY
- Going from re-active to pro-active communication SEE HEREIN MORE DETAIL
Category Opportunity
Branding Objectives
€ 35m Brand investment in next 2 years
in branded turnover by 2025 € 1bn
€ 100m
additional EBIT (cash break even by 2022)
Category Opportunity
MOWI Expansion plan
2019:
Launch in Europe
As from 2020:
Continued roll-out in Europe, North America & Asia
Thanks
Value creation with a global brand
MH Capital Markets Day Edinburgh, 13th November 2018
There is nothing more powerful than an idea whose time has come
Victor Hugo – French writer 1802 -1885
So, what do we have today?
• A beautiful thriving business
MOWI – The Brand Project
- With powerful competitive advantages
- Leading edge compliance and working within the natural environment
We want to continue growing…faster than the food industry and our competitors.
MOWI – The Brand Project
..fueled by CONSUMER INSIGHTS
Food consumption habits are changing
36%
of consumers want to reduce their meat consumption
of consumers want to increase their fish consumption
Recommended fish intake by international Health Authorities
Source: 2018 Seafood Report Kantar TNS / Kantar Worldpanel
Demand for high quality opens up value opportunities
- 62% choose high quality products more frequently
- 60% are willing to pay more for a high quality product
- 91% want more transparency on food products
- 91% are sensitive to animal welfare
- 72% think we should only consume fish products that are harvested in a sustainable manner
Marine Stewardship Council (2016): 16,876 consumers who purchased fish or seafood in the last two months Source : Kantar TNS FOOD 360° 2018
Brand opportunity
Introducing
…a global brand launch
Why a global brand?
- Builds competitive advantages
- Generates people´s loyalty
- Yields higher margins
- Drives Category growth
- Protects category reputation
…engaging the targets through COMMUNICATION and CREATIVITY
Building Brand Love
CREATES VALUE
Higher price and margin And VALUE means
So, how to achieve these objectives with MOWI?
Leveraging Consumer Insights, Communication & Creativity
A winning credible idea
With a superior product and competitive edge And a superb and consistent brand appearance That tells our story in a credible way Building occasions to expand the category Through a cutting-edge in-store presence And an ambitious expansion plan
A winning idea that it is better, different and unique compared to competition
A winning concept
Overall rating and purchase intention scores in planned launch markets
(Top 2 winning concepts average in planned launch markets)
Leading competitor
Organic
(Average in planned launch markets)
40.2%
(Average in planned launch markets) 32.5%
30.5%
CARING
Our heritage is about caring.
We are pioneers of farmed Atlantic salmon with over 50 years of care and craftsmanship in everything we do.
We care for our salmon
We care for our MOWI salmon throughout the value chain, from feed to plate
We care for the environment
We breed our salmon sustainably to keep the impact on our surroundings to a minimum.
We care for our consumers
We care - because good food is about caring for yourself and for the ones you love.
Therefore, we offer a salmon that is extra-nutritious and healthy, truly delicious and convenient to enjoy.
There are salmon SALMON IS GOOD
There's MOWI MOWI IS GOODNESS
A winning credible idea
With a superior product and competitive edge
And a superb and consistent brand appearance That tells our story in a credible way Building occasions to expand the category Through a cutting-edge in-store presence And an ambitious expansion plan
Superior product
So, what's the MOWI winning product formula?
Superior product
So, what's the MOWI winning product formula?
A premium range to satisfy all consumer needs
Delicious high quality salmon ready to cook
Delicious high quality salmon ready to eat in a variety of preparations
The absolute epitome of salmon quality, our hand picked broodstock salmon for the top stores and restaurants
Something you will taste in a few minutes…
A winning credible idea
With a superior product and competitive edge
And a superb and consistent brand appearance
That tells our story in a credible way
Building occasions to expand the category
Through a cutting-edge in-store presence
And an ambitious expansion plan
Brand Design
What do we want from packaging?
- Let the product talk
- Maximize consumer experience
- Iconize the brand
- Bring trust and confidence
Caring means full transparency
We will do that through full traceability
Brand transparency
24/7 full-time transparency on your screen
The longest TVC in the world: MOWI Screen Saver
A winning credible idea
With a superior product and competitive edge And a superb and consistent brand appearance
That tells our story in a credible way
Building occasions to expand the category
Through a cutting-edge in-store presence
And an ambitious expansion plan
MOWI - The book (Silver Harvest)
A winning credible idea With a superior product and competitive edge And a superb and consistent brand appearance That tells our story in a credible way
Building occasions to expand the category
Through a cutting-edge in-store presence
And an ambitious expansion plan
OUTDOOR
MOWI
– The Brand Project
MOWI
– The Brand Project
MOWI – The Brand Project
MOWI – The Brand Project
A winning credible idea
With a superior product and competitive edge And a superb and consistent brand appearance That tells our story in a credible way Building occasions to expand the category
Through a cutting-edge in-store presence
And an ambitious expansion plan
A winning credible idea With a superior product and competitive edge And a superb and consistent brand appearance That tells our story in a credible way Building occasions to expand the category Through a cutting-edge in-store presence And an ambitious expansion plan
Brand Ambition
Nielsen test results in planned launch markets
France 20% 20% 20% 20% 20% 20% of Marine Harvest Retail market value after 2 years Est. +28%
ALL THIS WHILE TRANSFORMING THE COMPANY
ASA
ONE STORY
Thank you
(and hope you agree with Victor Hugo)