Mowi ASA (OSE:MOWI): Q2 2019 Trading update

Harvest volumes Q2 2019 (1)Farming Norway51.5 thousand tonnesFarming Scotland16.0 thousand tonnesFarming Canada12.5 thousand tonnesFarming Chile15.0 thousand tonnesFarming Ireland2.0 thousand tonnesFarming Faroes1.5 thousand tonnesTotal98.5 thousand tonnesIn connection with the presentation of the Q1 2019 results, Mowi ASA guided a total harvest volume of 98 thousand tonnes (GWE) for Q2 2019. Note:(1) The harvest volumes are provided in...

Harvest volumes Q2 2019 (1)

Farming Norway	51.5 thousand tonnes
Farming Scotland	16.0 thousand tonnes
Farming Canada	12.5 thousand tonnes
Farming Chile	15.0 thousand tonnes
Farming Ireland	2.0 thousand tonnes
Farming Faroes	1.5 thousand tonnes
Total	98.5 thousand tonnes

In connection with the presentation of the Q1 2019 results, Mowi ASA guided a total harvest volume of 98 thousand tonnes (GWE) for Q2 2019.

Note:
(1) The harvest volumes are provided in gutted weight equivalents (GWE). The figures include salmonid species only.

Additional information

Operational EBIT for the Group was approximately EUR 208 million in Q2 2019 (EUR 175 million in Q2 2018).

With reference to the stock market announcement published on 23 May related to rebuilding of the Kritsen smokehouse in Landivisiau, France. A restructuring provision of EUR 19 million for industrial and social reorganization will be recognized under Restructuring cost, impacting Financial EBIT in the second quarter. The insurance settlement process is delayed, and the recognition of the insurance income will be deferred accordingly.

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

Norway	EUR	2.45
Scotland	EUR	2.90
Canada	EUR	0.85
Chile	EUR	1.85
Ireland	EUR	2.65
Faroes	EUR	2.65

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 110 million at the end of the quarter (excluding IFRS 16 effects).

The complete Q2 2019 report will be released on 21 August 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.