Mowi ASA

Earnings Release • Apr 11, 2025

Mowi ASA (OSE:MOWI): Q1 2025 Trading update

Mowi ASA (OSE:MOWI): Q1 2025 Trading update

Harvest volumes Q1 2025 (1)

Farming Norway 62.0 thousand tonnes

Farming Scotland 17.5 thousand tonnes

Farming Chile 14.0 thousand tonnes

Farming Canada 5.0 thousand tonnes

Farming Ireland 2.5 thousand tonnes

Farming Faroes 4.0 thousand tonnes

Farming Iceland (Arctic Fish) 3.0 thousand tonnes

Total 108.0 thousand tonnes

In connection with the presentation of the Q4 2024 results, Mowi guided a total

harvest volume of 108k GWT for Q1 2025 (96.5k GWT in Q1 2024).

Note:

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

Additional information

Operational EBIT for the Group was approx. EUR 214 million in Q1 2025 (NOK

2,497 million / EURNOK 11.65) versus EUR 201 million in Q1 2024 (NOK 2,288

million / EURNOK 11.41). Blended farming cost was EUR 5.89 per kg in the

quarter, down from EUR 6.05 in Q1 2024.

Total Q1 Operational EBIT per kg through the value chain was approximately as

follows:

Norway EUR 2.50

Scotland EUR 1.80

Chile EUR 0.90

Canada EUR 0.80

Ireland EUR 0.95

Faroes EUR 2.75

Iceland EUR 0.00

Operational EBIT in Consumer Products was EUR 33 million. Operational EBITDA in

Feed was EUR 7 million in Q1 2025. Reported financial net interest-bearing debt

(NIBD) for the group was approximately EUR 1 890 million at the end of the

quarter (excluding IFRS 16 effects). The complete Q1 2025 report will be

released on 14 May 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.