Mowi ASA (MHGVY) Q3 2023 Earnings Call Transcript


Mowi ASA (OTCPK:MHGVY) Q3 2023 Earnings Conference Call November 8, 2023 2:00 AM ET

Company Participants

Ivan Vindheim – Chief Executive Officer

Kristian Ellingsen – Chief Financial Officer

Kim Dosvig – Investor Relations Officer

Conference Call Participants

Ivan Vindheim

Good morning everyone in the room and online, and welcome to the presentation of Mowi’s Third Quarter Results of 2023. My name is Ivan Vindheim, and I’m the CEO of Mowi. And with me today to present the financial figures and fundamentals, I have as usual our CFO, Kristian Ellingsen. Now after the presentation, our IRO, Kim Dosvig will host our Q&A session, but also are following the presentation online can submit your questions or comments in advance or as we go along by e-mail. Please refer to our website at mowi.com for necessary details.

Disclaimer. I think we leave for self-study. Then I think we are ready for the highlights of the quarter. It was another record-breaking quarter for Mowi in terms of top line and growth, as both operational revenue of €1.36 billion and farming volumes of 135,000 tonnes were all-time high. And speaking of growth, we maintain our volume guidance for this year of record high 484,000 tonnes, which is up from 464,000 tonnes last year and equivalent to a growth of 4.3% year-over-year, surpassing that to divide the industry by a large margin. For next year, we expect to harvest record high 500,000 tonnes, which is a milestone for us as we crossed the magic 500,000 tonnes mark for the first time in Mowi’s 60 years history.

As you can see from the chart here, as recently as 2018, we harvested 375,000 tonnes in Mowi, which means we are up by 125,000 tonnes over the last six years. And speaking of 6, a growth which alone would have been the world’s sixth



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