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Reported Q: Q2 2024 Rev YoY: -1.9% EPS YoY: +130.4% Move: -0.79%

Mowi ASA

MOWI.OL

Kr.225.60 -0.79%

Exchange OSL Sector Consumer Defensive Industry Agricultural Farm Products

Q2 2024

Published: Jun 30, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for MOWI.OL

Reported

Report Date

Jun 30, 2024

Quarter Q2 2024

Revenue

1.33B

YoY: -1.9%

EPS

0.07

YoY: +130.4%

Market Move

-0.79%

Previous quarter: Q1 2024

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Earnings Highlights

Revenue of $1.33B down 1.9% year-over-year
EPS of $0.07 increased by 130.4% from previous year
Gross margin of 40.6%
Net income of 36.40M
"*'This quarter was a strong quarter for Mowi operationally with good biology and seasonally record high growth in sea...'*" - Ivan Vindheim, CEO

MOWI.OL

Mowi ASA

Period Q2 2024

Currency EUR

Report Type Quarterly Earnings

Generated Feb 10, 2026

Executive Summary

Mowi ASA reported solid Q2 2024 results, highlighted by operational revenues of EUR 1.34 billion and an operational profit of EUR 230 million, buoyed by record high harvest volumes of 110,500 tonnes. However, challenges in pricing, particularly in the Americas, dampened margins. Management emphasized the commitment to maintaining cost leadership and reiterated guidance to achieve 500,000 tonnes of farming volume by year-end, reflecting a 5.3% YoY growth. Despite political challenges in Canada affecting some operations, the company continues to strengthen its market position, bolstered by healthy biomass levels and improved cost controls.

Key Performance Indicators

Revenue

Decreasing

1.33B

QoQ: 0.46% | YoY: -1.94%

Gross Profit

Decreasing

541.10M

40.56% margin

QoQ: -18.04% | YoY: -9.35%

Operating Income

Increasing

372.80M

QoQ: 49.96% | YoY: 101.62%

Net Income

Increasing

36.40M

QoQ: -78.28% | YoY: 130.01%

EPS

Increasing

0.07

QoQ: -78.13% | YoY: 130.43%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue Performance: Q2 2024 revenue of EUR 1.34 billion, slightly down 1.94% YoY but up 0.46% QoQ.
Profitability: Net income stood at EUR 36.4 million with an EPS of EUR 0.07. This was up 130.01% YoY, showing impressive recovery from previous challenges.
Gross Profit Margin: 40.6%, decreased from 43.9% in Q2 2023, indicating pressure on prices despite high operational performance.
Operating Income Ratio: 27.9%, showcasing effective cost management.
Cash Flow: Free cash flow of EUR 109.2 million demonstrated strong operational cash generation capability.
Debt Position: Net interest-bearing debt at EUR 1.88 billion with a healthy equity ratio of 48%.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	1.33B	-1.94%	0.46%
Gross Profit	541.10M	-9.35%	-18.04%
Operating Income	372.80M	101.62%	49.96%
Net Income	36.40M	130.01%	-78.28%
EPS	0.07	130.43%	-78.13%

Key Financial Ratios

Gross Profit Margin

Good

40.60%

Gross profit margin is healthy and competitive within industry standards

Operating Profit Margin

Excellent

27.90%

Operating margin is exceptional, indicating strong pricing power and operational efficiency

Net Profit Margin

Weak

2.73%

Net profit margin is below industry norms, profitability concerns

Return on Assets

Weak

0.45%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

0.99%

Return on equity suggests inefficient capital allocation

Current Ratio

Strong

3.13

Current ratio indicates excellent liquidity and financial flexibility

Debt to Equity

Elevated

0.72

Debt-to-equity shows significant leverage, monitor debt levels

P/E Ratio

High Growth

55.49x

Very high P/E indicates aggressive growth expectations, higher risk

Price to Book

Fair Value

2.20x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q4 2024	1,500.20	0.42	+7.2%	View
Q3 2024	1,441.70	0.09	+6.3%	View
Q2 2024	1,334.00	0.07	-1.9%	View
Q1 2024	1,327.90	0.32	-2.6%	View
Q4 2023	1,399.00	3.85	+5.5%	View

Mowi ASA (MOWI.OL) Q2 2024 Earnings Report

Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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