Mowi posts record Q3 revenue of EUR 1.73 billion, becomes world's largest seafood company
Mowi reports 2026 third-quarter results: revenue of EUR 1.73 billion and operational profit of EUR 275 million, both records for the period; salmon harvest of 186,000 tonnes, up 12% year on year, with the full-year harvest guidance raised to 620,000 tonnes.
Mowi generated revenue of EUR 1.73 billion (around NOK 19 billion) in the third quarter of 2026, the highest revenue in the company's history; operational profit for the period was EUR 275 million (around NOK 3 billion), a seasonal record for the third quarter. This is the first time Mowi has set new highs for both revenue and operational profit in a third quarter.
On volumes, Mowi harvested 186,000 tonnes of salmon in the quarter, up 12% year on year and also a record. On costs, third-quarter costs fell by EUR 51 million (around NOK 559 million) compared with the same period last year, bringing the year-to-date reduction to EUR 122 million (around NOK 1.4 billion).
Mowi CEO Ivan Vindheim said the company continues to deliver on key parameters including volume growth, price realisation and cost control, thereby maintaining a competitive margin.
Volume growth is one of Mowi's strategic pillars. The company has raised its full-year 2026 harvest guidance from 600,000 tonnes to 620,000 tonnes, an increase of 11% on last year; by comparison, industry growth is expected to be 4%. Vindheim said that with the volume and revenue growth of recent years, Mowi is now not only the world's largest salmon farming company but also the world's largest seafood company by revenue.
Beyond its farming operations, the group's downstream processing business Mowi Consumer Products posted record third-quarter revenue, with volumes of 84,000 tonnes, up 18% year on year. Vindheim said integrated operations bring greater flexibility and make it easier to build demand in the market, and that underlying demand for the company's products was good in the third quarter.
The feed business Mowi Feed also delivered record results and volumes, with profit and volumes up 33% and 19% respectively year on year, which the company attributed to good biological conditions in its Norwegian and Scottish farming operations.
The Mowi board has decided on a dividend of NOK 2.30 per share for the third quarter.
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