Analysts are slamming the first-quarter performance of Norway-based salmon farmer Mowi, calling the company's financial results weak and disappointing.
The salmon giant's €201.0 million ($214.6 million) first-quarter operational earnings before interest and tax (EBIT) were 38 percent lower than 2023's first quarter, which was the best first quarter ever for the company.
The falling figures are mainly attributable to biological issues such as winter sores and string jellyfish affecting the company's fish in Norway, resulting in lower quality.
Mowi's harvest in Norway was down 16 percent to 55,000 metric tons.
