Mowi ASA (OSE:MOWI): Q1 2025 Trading update

Harvest volumes Q1 2025 (1)

Farming Norway	62.0 thousand tonnes
Farming Scotland	17.5 thousand tonnes
Farming Chile	14.0 thousand tonnes
Farming Canada	5.0 thousand tonnes
Farming Ireland	2.5 thousand tonnes
Farming Faroes	4.0 thousand tonnes
Farming Iceland (Arctic Fish)	3.0 thousand tonnes
Total	108.0 thousand tonnes

In connection with the presentation of the Q4 2024 results, Mowi guided a total harvest volume of 108k GWT for Q1 2025 (96.5k GWT in Q1 2024).

Note:
(1) The harvest volumes are provided in gutted weight equivalents (GWT).

Additional information

Operational EBIT for the Group was approx. EUR 214 million in Q1 2025 (NOK 2,497 million / EURNOK 11.65) versus EUR 201 million in Q1 2024 (NOK 2,288 million / EURNOK 11.41). Blended farming cost was EUR 5.89 per kg in the quarter, down from EUR 6.05 in Q1 2024.

Total Q1 Operational EBIT per kg through the value chain was approximately as follows:

Norway	EUR	2.50
Scotland	EUR	1.80
Chile	EUR	0.90
Canada	EUR	0.80
Ireland	EUR	0.95
Faroes	EUR	2.75
Iceland	EUR	0.00

Operational EBIT in Consumer Products was EUR 33 million. Operational EBITDA in Feed was EUR 7 million in Q1 2025. Reported financial net interest-bearing debt (NIBD) for the group was approximately EUR 1 890 million at the end of the quarter (excluding IFRS 16 effects). The complete Q1 2025 report will be released on 14 May at 06:30 CET.

Please refer to the Annual Report for detailed descriptions and reconciliations of non-IFRS measures such as Operational EBIT and NIBD.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.