Mowi Posts Record Revenue on Strong Salmon Harvest
The Norwegian aquaculture company reported record third-quarter revenues of EUR 1.73 billion and raised its 2026 harvest estimate.
Updated on Nov. 4, 2026 in Corporate Finance
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Mowi reported record-high revenues of EUR 1.73 billion in the third quarter of 2026, alongside a seasonally record operational EBIT of EUR 275 million and a record salmon harvest of 186,000 tonnes. The company also raised its estimated 2026 harvest from 600,000 to 620,000 tonnes.
Why it matters
Favourable biological conditions in Mowi's Norwegian and Scottish farming operations drove growth in Mowi Feed, while strong cost control supported profitability. The results reflect how efficiency gains and volume growth are contributing to earnings in the salmon farming sector.
Mowi reported a quarterly harvest of 186,000 tonnes, up 12% from the third quarter of 2025, and cut farming costs by EUR 51 million over the same period. Mowi Feed revenues rose 33% year over year, though the filing does not break out how much of that growth came from price versus volume.
The players
Mowi
A Norwegian salmon farming company headquartered in Bergen that describes itself as fully integrated from fjord to fork.
The details
Mowi Consumer Products recorded record revenues and volumes of 84,000 tonnes, with volumes up 18% from the same period last year. The Board of Directors decided to pay a dividend of NOK 2.30 per share for the third quarter.
Timeline
Third quarter of 2026: record revenues, EBIT, and harvest volumes reported
November 4, 2026: results announced and dividend decided
2026: estimated harvest raised to 620,000 tonnes
Market Dynamics
Mowi's estimated 11% volume growth for 2026 exceeds the expected 4% industry volume growth, suggesting the company is gaining share in the salmon market. Its record quarterly results and raised harvest forecast position it ahead of the broader sector trend.
Mowi's NOK 2.30 per share dividend provides a direct cash return to shareholders for the third quarter. Investors tracking salmon producers can use the company's raised 620,000-tonne harvest estimate as a reference point for sector earnings expectations.
The takeaway
Mowi's results show that volume growth combined with disciplined cost control can drive record earnings in aquaculture. Investors should watch whether the company sustains its harvest growth above industry rates into 2027.
Further reading
Explore more company earnings coverage in Corporate Finance.
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