Mowi, the world's largest salmon farmer, was stung by biological problems in its first quarter.
Operational earnings before interest and tax (EBIT) were down around 38 percent year-on-year to €201.0 million ($214.6 million) the company said in a trading update ahead of its full results announcement next month.
While last year's first quarter was the company's best ever, this year's looks set to take the company back to below 2022 profit levels, largely because of rising costs associate biological challenges such as winter sores and string jellyfish, resulting in low superior share and average size for fish harvested from Mowi's Norwegian operations.
