Mowi ASA (OSE:MOWI): Q3 2021 Trading update

Mowi ASA (OSE:MOWI): Q3 2021 Trading update

Harvest volumes Q3 2021 (1)

Farming Norway	71.0 thousand tonnes
Farming Scotland	15.0 thousand tonnes
Farming Chile	15.0 thousand tonnes
Farming Canada	11.0 thousand tonnes
Farming Ireland	2.0 thousand tonnes
Farming Faroes	3.0 thousand tonnes
Total	117.0 thousand tonnes

In connection with the presentation of the Q2 2021 results, Mowi ASA guided a total harvest volume of 110 thousand tonnes (GWE) for Q3 2021.

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 131 million in Q3 2021 (EUR 80 million in Q3 2020). Operational EBIT was negatively impacted by EUR 11 million related to extraordinary mortalities in Farming Canada, of which EUR 6 million was caused by a plankton bloom incident in Canada West and EUR 5 million in connection with a low oxygen incident in Canada East. Blended Farming cost per kg harvested was EUR 4.59. Extraordinary mortalities in Farming Canada affected total margin in the quarter by EUR 0.09/kg.

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

Norway	EUR	1.40
Scotland	EUR	0.90
Chile	EUR	0.90
Canada	EUR	0.00
Ireland	EUR	1.85
Faroes	EUR	0.85

Operational EBIT in Consumer Products was EUR 22 million (EUR 21 million in Q3 2020) and Feed EUR 10 million in Q3 2021 (EUR 12 million in Q3 2020).

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 150 million at the end of the quarter (excluding IFRS 16 effects).

The complete Q3 2021 report will be released on 10 November 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.