Strong Half-Year Results for Mowi Scotland Extend Growth Trajectory

Healthy fish lead to healthy profits for Mowi. Mowi Scotland has unveiled robust results for the first half of 2025.

Overview of Results

Announced on August 20, Mowi Scotland’s Q2 results reflect a noticeable improvement in fish biology, attributed to strategic investments and shifts in operations. The results continue a positive trend observed since Q1 2024, marked by reductions in costs and increased operational volume.

The operational EBIT for the first half reached EUR 31.3 million, translating to EUR 1.29 per kg, despite the challenges posed by fluctuating spot prices, which tempered gains from high harvest volumes.

Insights from Leadership

Ben Hadfield, COO for Mowi Scotland, Ireland, Faroes & Canada East, elaborated on the financial performance:

“Our costs decreased from the comparable quarter in 2024 due to improved biological performance and lower feed prices. By focusing on fish survival, welfare, and product quality, we are beginning to reap the financial rewards.”

Achievements in Fish Health

Notably, Mowi Scotland has achieved its best fish health statistics in the past five years for the first half of the year. Key improvements include:

• Significant reduction in overall mortality rates
• Enhanced management of plankton blooms
• Effective treatment of gill infections
• Lower bacterial infection rates
• Sea lice levels at the lowest since 2017
• Improved feed conversion ratios
• Increase in average fish weight, the highest since 2017
• Post-smolt strategy positively impacting production
• Excellent outcomes across freshwater sites

Strategic Innovations

The introduction of a post-smolt strategy has been pivotal to Mowi’s improvements. This approach involves delaying the transfer of farm-raised salmon from freshwater to saltwater until they reach a size of up to 1.0 kg, resulting in faster growth in offshore sites while also mitigating health risks associated with warm summer temperatures.

Successful harvesting of post-smolt salmon has been conducted at Mowi’s Loch Etive system, which was acquired from Dawnfresh in 2023.

Investments in Future Growth

Mowi Scotland is also investing heavily in a new broodstock hatchery at Ardessie, set to begin operations later this year. This facility will ensure that all eggs are sourced from locally grown broodfish, enhancing the robustness and survival rates of the stock.

Ben Hadfield commented on this investment: “Our post-smolt strategy addresses summer water quality challenges, and our locally-sourced Mowi strain eggs are linked to higher robustness and lower mortality.”

Introduction of the Largest Wellboat in Scotland

In addition to the hatchery, Mowi Scotland is also bringing in a 6,000m³ wellboat, set to arrive in October. This vessel represents the largest of its kind in Scotland and will enhance Mowi’s freshwater treatment capabilities, particularly in combating parasites such as sea lice and Neoparamoeba perurans, which can cause Amoebic Gill Disease (AGD).

Community Commitment

Mowi Scotland boasts a workforce of 1,600 dedicated employees situated in the Scottish Highlands and Fife. These staff members are essential to the company’s operations, from raising to processing and marketing fresh Atlantic salmon for both domestic and international markets.

“Our operations are located in remote rural communities, and we recognize the commitment and passion of our employees—integral to our success,” concluded Hadfield.

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