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Reported Q: Q3 2024 Rev YoY: +6.3% EPS YoY: -55.0% Move: -0.44%

Mowi ASA

MOWI.OL

Kr.227.40 -0.44%

Exchange OSL Sector Consumer Defensive Industry Agricultural Farm Products

Q3 2024

Published: Sep 30, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for MOWI.OL

Reported

Report Date

Sep 30, 2024

Quarter Q3 2024

Revenue

1.44B

YoY: +6.3%

EPS

0.09

YoY: -55.0%

Market Move

-0.44%

Previous quarter: Q2 2024

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Earnings Highlights

Revenue of $1.44B up 6.3% year-over-year
EPS of $0.09 decreased by 55% from previous year
Gross margin of 36.3%
Net income of 48.90M
""This quarter will be remembered for its record high operating revenues, driven by all-time high quarterly harvest volumes of 161,000 tonnes..." - Ivan Vindheim, CEO" - Ivan Vindheim

MOWI.OL

Mowi ASA

Period Q3 2024

Currency EUR

Report Type Quarterly Earnings

Generated Feb 10, 2026

Executive Summary

Mowi ASA reported record operating revenues of €1.44 billion in Q3 2024, a 6% increase year-over-year, driven by robust harvest volumes of 161,000 tonnes. However, profitability was impacted by seasonal challenges, leading to an operational EBIT of €173 million—down 62.99% year-over-year. Despite facing softer prices due to increased industry supply, the company maintains its optimistic outlook with targets of 520,000 tonnes for 2025, emphasizing organic growth and strategic management of costs. The commitment to technological innovation in salmon farming positions Mowi favorably against industry competitors.

Key Performance Indicators

Revenue

Increasing

1.44B

QoQ: 8.07% | YoY: 6.34%

Gross Profit

Decreasing

523.70M

36.33% margin

QoQ: -3.22% | YoY: -16.86%

Operating Income

Decreasing

69.50M

QoQ: -81.36% | YoY: -62.99%

Net Income

Decreasing

48.90M

QoQ: 34.34% | YoY: -55.79%

EPS

Decreasing

0.09

QoQ: 35.14% | YoY: -54.95%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue & Profitability: Total revenue increased to €1.44 billion, with a gross profit margin of 36.3%. However, net income decreased to €48.9 million, highlighting a year-over-year decline of 55.79%.

Balance Sheet Health: Mowi’s net interest-bearing debt reduced to €1.77 billion, nearing the target of €1.7 billion. The equity ratio stood at 51%, reflecting a healthy balance sheet.

Cash Flow Insights: Operating cash flow was strong at €372.1 million, positively affected by a working capital release and lower feed prices, contributing to a free cash flow of €250.9 million.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	1.44B	6.34%	8.07%
Gross Profit	523.70M	-16.86%	-3.22%
Operating Income	69.50M	-62.99%	-81.36%
Net Income	48.90M	-55.79%	34.34%
EPS	0.09	-54.95%	35.14%

Key Financial Ratios

Gross Profit Margin

Fair

36.30%

Gross profit margin is moderate, room for improvement in cost management

Operating Profit Margin

Weak

4.82%

Operating margin is below industry norms, profitability concerns

Net Profit Margin

Fair

3.39%

Net profit margin is moderate, room for improvement in cost management

Return on Assets

Weak

0.61%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

1.35%

Return on equity suggests inefficient capital allocation

Current Ratio

Strong

2.76

Current ratio indicates excellent liquidity and financial flexibility

Debt to Equity

Elevated

0.68

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

P/E Ratio

High Growth

42.70x

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

Price to Book

Fair Value

2.30x

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) Q3 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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