Mowi ASA (MOWI) Earnings Call Transcripts

Mowi ASA's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Mowi ASA reported a record revenue of EUR 1.54 billion, driven by a significant 26% year-over-year increase in harvest volumes to 136,000 tonnes. Operational profit reached EUR 221 million, marking the second-best first quarter in the company's history. Management maintained its guidance for 2026 farming volumes at 605,000 tonnes, reflecting an 8.3% growth year-over-year, while also indicating stable costs in the second quarter before a decline in the latter half of the year.

Reported metrics

Guidance from management

Mowi maintains its farming volume guidance for 2026 at 605,000 tonnes, reflecting an 8.3% growth year-over-year. Management expects stable costs in Q2 before a decline in the second half of the year.

What management said

Sounds good. So we will start with the first question this time around from the web from Andres Castanos-Mollor from Berenberg. He's got a question on dividends. If you can comment on the high dividend payout ratio, higher than previous quarters, please?

Yes. So the quarterly dividend is always a trade-off between many things, but to keep it short, I think we shall interpret it as our Board having faith in the future prospects of Mowi. We have gone from being a 400,000 tonnes farmer to now being a 600,000 tonnes farmer in just a few years. And earlier this morning, Kristian showed us that we are competitive on cost, and we also expect limited industry supply growth g...

What analysts pressed on

Analysts expressed concerns regarding the impact of rising transportation costs on pricing and profitability. There were also questions about the sustainability of the high industry supply growth and its effect on future pricing dynamics.

Main topics on the call

• Record Harvest Volumes — Mowi achieved a record harvest volume of 136,000 tonnes, up 26% year-over-year, which exceeded initial guidance. CEO Ivan Vindheim noted, "this is the best first quarter for Mowi, at least in my time."
• Stable Cost Outlook — Management expects blended farming costs to remain stable in Q2 before declining in the second half of 2026, aided by increased harvest volumes. Vindheim stated, "we expect our realized blended farming cost to be stable ...
• Dividend Announcement — The Board declared a quarterly dividend of NOK 2.30 per share, reflecting confidence in future prospects. Vindheim emphasized that the decision indicates the Board's faith in Mowi's future, stating, "we have gone from be...
• Industry Supply Growth Impact — The quarter was characterized by a 14% year-over-year increase in industry supply, which pressured prices. Vindheim remarked, "this took its toll on prices in the quarter, especially in the first part of the quarter."

Read the full Mowi ASA transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 25 Mowi ASA earnings call transcripts on record, spanning February 12, 2020 to May 13, 2026. Based on this history, Mowi ASA reports quarterly. The most recent call on file is dated May 13, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

MOWI

Exchange

OB

Country

NO

Sector

Consumer Staples

Industry

Food Products

Calls on record

25

First call

February 12, 2020

Most recent

May 13, 2026

Reporting cadence

quarterly