Mowi ASA reported robust operational revenues of EUR 1.33 billion in Q1 2024, though the quarter was marked by significant biological challenges primarily in Norway. Seasonal factors influenced both revenue and costs, leading to a recorded operating profit of EUR 201 million. Management highlighted the impact of adverse winter conditions and jellyfish-related issues on harvest volumes, which totalled 96,500 tonnes, falling short of guidance. Despite these challenges, demand for salmon of European origin remains strong, hinting at potential recovery as conditions improve. Investors are encouraged by management's proactive measures, including a new vaccination strategy and expectations for reduced feed costs in the forthcoming quarters, setting a foundation for a stronger second half of 2024.