Aquaculture giant Mowi achieved its highest harvest volume ever in the third quarter. Lower salmon prices still pushed earnings below last year's results.
The company reported revenues of 1.39 billion euros. Its operational profit reached 112 million euros. This marks a decline from 173 million euros during the same period last year.
CEO Ivan Vindheim addressed the results in a statement. He noted the company delivered strong operational performance despite challenging prices. Mowi harvested 166,000 tons of salmon this quarter, setting a new record.
For 2026, Mowi expects harvest volumes to reach 605,000 tons. Norway will contribute 380,000 tons to this total. Lower feed prices should help reduce production costs by then.
The board approved a dividend of 1.50 Norwegian kroner per share for the third quarter.
Mowi's situation shows how even record production cannot always offset market price fluctuations. The company's scale helps it maintain operations, but global salmon prices ultimately drive profitability.