Mowi Asa · OSL:MOWI
Mowi Asa — Investor Day (March 2021)
94 slides from Mowi Asa's investor day presentation, Mar 17, 2021
Slide 1: Capital Markets Day 2021
Capital Markets Day 2021 Bergen, Norway 17 March 2021
Slide 2: Forward looking statements
Forward looking statements This presentation may be deemed to include forward-looking statements, such as statements that relate to Mowi’s contracted volumes, goals and strategies, including strategic focus areas, salmon prices, ability to increase or vary harvest volume, production capacity, expect
Slide 3: Group Management Team
Group Management Team Ivan Vindheim (1971), CEO Kristian Ellingsen (1980), CFO Catarina Martins (1977), CTO and CSO CEO from 2019, prior to that CFO from 2019, prior to that Chief Technology and CFO for seven years. He has Group Accounting Director Sustainability Officer from held various executive
Slide 4: Agenda
Agenda 08:00 - 08:25 Business and Strategy update Ivan Vindheim 08:25 - 08:40 Finance Kristian Ellingsen 08:40 - 09:00 Sales & Marketing Ola Brattvoll 09:00 - 09:20 Farming Norway Øyvind Oaland 09:20 - 09:25 Break 09:25 - 09:40 Farming Scotland, Ireland, Faroes Ben Hadfield 09:40 - 09:55 Farming Ame
Slide 5: Business and Strategy update
Business and Strategy update Capital Markets Day 2021 Ivan Vindheim CEO
Slide 6: Mowi in brief
Mowi in brief One of the world’s leading seafood companies The world’s largest producer of Atlantic salmon, (#1 measured by market capitalisation) 440,000 GWT in 2020 (~2.5 billion meals per year) #1 on sustainability (Coller FAIRR) Listed on Oslo Stock Exchange Fully integrated value chain HQ in Be
Slide 7: Mowi – Leading the Blue Revolution
Mowi – Leading the Blue Revolution 2020 harvest volumes (1,000 GWT) Global 500 volumes of 2.5 million GWT 440 400 300 Harvest volume salmonids (GWT) 200 100 0 Mowi A B C D E F G H I J K L M N O P Q R S Source: Kontali Analyse Page 7 Note: Harvest volumes in Gutted Weight Tonnes (GWT), Atlantic salmo
Slide 8: Fully integrated value chain
Fully integrated value chain Products & Feed Breeding Smolt Farming Harvesting Processing Customer Feed Farming Consumer Products #4 #1 #1 540k tonnes 440k GWT 239k tonnes Page 8 Note: Farming volumes in Gutted Weight Tonnes (GWT), Consumer Products volumes in product weight
Slide 9: Feed production of 540,000 tonnes in 2020 – Self-sufficient in Europe
Feed production of 540,000 tonnes in 2020 – Self-sufficient in Europe Total production capacity of 640,000 Valsneset, Norway tonnes 400,000 tonnes capacity Opened 2014 Kyleakin, Scotland 240,000 tonnes capacity Opened 2019 Page 9
Slide 10: Farming harvest volumes of 440,000 GWT in 2020
Farming harvest volumes of 440,000 GWT in 2020 Harvest volumes in GWT Canada Ireland Faroes Norway Scotland 44,000 8,000 9,000 262,000 53,000 Harvest volumes Chile 65,000 Page 10
Slide 11: Sales & Marketing – Consumer Products volumes of 239,000 tonnes in 2020
Sales & Marketing – Consumer Products volumes of 239,000 tonnes in 2020 21 Secondary processing plants Europe 28 Sales offices 180,000 tonnes Germany Poland Norway France Netherlands Faroes Spain Belgium Ireland Consumer Italy Czech Sweden Products volumes sold Scotland Turkey Asia 30,000 tonnes Chi
Slide 12: Megatrends drive demand…
Megatrends drive demand… Demand for salmon expected to exceed supply growth in the next 5 years Population Exploited growth Health resources Climate Growing middle Aging change/Resouce class population efficiency Page 12
Slide 13: …and so does a very strong product
…and so does a very strong product • Scientifically proven natural superfood – Nutritionally dense and great for one’s health (omega-3, vitamins, protein, potassium, antioxidants) • Top appetising taste, look, texture and colour • Versatile for traditional and evolving food occasions – Raw, grilled,
Slide 14: Demand expected to exceed supply for the next 5 years
Demand expected to exceed supply for the next 5 years 8% 6% 4% 3% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021e 2022e 2023e 2024e 2025e Demand growth avg (2010-2020) Supply growth avg (2010-2020) Supply growth avg (2020-2025e) Demand growth p.a. Supply growth p.a. Page 14
Slide 15: Mowi Farming working along three main pillars
Mowi Farming working along three main pillars Mowi Farming Volume Cost Sustainability Lagging behind on growth ✓ #1-2 relative cost position ✓ #1 on sustainability, must improve further • 2014-2020 CAGR: • However, too high in absolute • #1 Coller FAIRR Mowi 0.8% vs industry 3.4% terms • A-rated C
Slide 16: Putting the customer at the core of everything we do downstream
Putting the customer at the core of everything we do downstream Customer value Operational Product Excellence Continue to develop innovative and high-quality Productivity and cost Products that are easily efficiency through accessible to customers. Operational Excellence Growth in selected Branding
Slide 17: A fully fledged feed operation in Europe
A fully fledged feed operation in Europe The production journey of Mowi Feed Self sufficient Cover 100% of Mowi’s feed need in Europe 2014 2019 2020 Valsneset Kyleakin Mowi opened its first feed Mowi’s second feed plant opened plant in Trøndelag, Norway on the Isle of Skye, Scotland 640 640 600 389+
Slide 18: Transforming the value chain through digitalisation and automation
Transforming and making the value chain more efficient through digitalisation and automation • Full digitally integrated value chain from roe to plate • Smart Farming – Remote operation centres, automatic feeding, real time monitoring of biomass, digital lice counting, tracking fish welfare, IoT, bi
Slide 19: Finance
Finance Capital Markets Day 2021 Kristian Ellingsen CFO
Slide 20: EBIT per kg – Mowi consistently #1 and #2 in all regions
EBIT per kg – Mowi consistently #1 and #2 in all regions Norway #2 Scotland #2 Canada #1 25 25 25 20 18.2 20 20 NOK/kg 15 13.4 15 NOK/kg 15 NOK/kg 10 10 8.6 10 5 5 5 0 0 0 A Mowi B C D E Avg. A Mowi B C Avg. Mowi A -5 Chile #2 Faroes #2 Other #1 1.0 25 25 21.7 20.6 0.8 0.7 NOK/kg 20 20 NOK/kg 0.6 15
Slide 21: Underlying cost pressure in Farming offset by cost cut initiatives
Underlying cost pressure in Farming offset by cost cut initiatives • Farming blended cost has been relatively Development in full cost per kg for Mowi group stable over the past 5 years 5 4.37 – CAGR 2.2% 4.00 4 • However, cost is still too high 3 EUR/kg • Cost-cutting initiatives are important to 2
Slide 22: Cost-cutting program 2018-2020 with annual savings of EUR 137 million
Cost-cutting program 2018-2020 with annual savings of EUR 137 million • Cost savings of EUR 137 million in total, of Cost savings per year and business area (EUR million) which EUR 85 million in Farming – ~800 initiatives across different categories 85 – Renegotiations of contracts • Boats and treat
Slide 23: Cost-cutting program 2021 with target of EUR 25 million in annual savings
Cost-cutting program 2021 with target of EUR 25 million in annual savings • Productivity program FTE reductions based on “as is” volumes – Salary and personnel expenses are second largest cost item in Mowi; EUR 558 million in 2020 – Utilise potential of Mowi 4.0 through automation and rightsizing –
Slide 24: Overview of Mowi's financing – target 100% green financing
Overview of Mowi’s financing – target 100% green financing • Total committed financing of EUR 1,956 million Share of green funding − Approximately EUR 475 million in cash and undrawn lines • Comfortably compliant with equity covenant of 35%. No earnings covenant • From 10% green financing as-is to 8
Slide 25: Mowi successfully issued the first green bond in the industry in 2020
Mowi successfully issued the first green bond in the industry in 2020 Terms of Mowi’s green bond issue • Mowi’s green bond framework • High investor demand – excellent fit between Mowi’s strong received a sustainability strategy and the ESG investor community Medium Green Shading from • EUR 200 mill
Slide 26: Sales & Marketing
Sales & Marketing Capital Markets Day 2021 Ola Brattvoll COO Sales & Marketing
Slide 27: Mowi Sales & Marketing
Mowi Sales & Marketing Business highlights Geographical overview of assets • Focus on creating customer value through 21 Secondary processing plants 28 Sales offices – Product – Branding – Operational Excellence • Putting the customer at the core of everything we do downstream • Value-added growth i
Slide 28: Salmon
Salmon The food icon of the 21st century Salmon is addressing megatrends better than most other popular food offers.
Slide 29: Significant growth potential in all markets
Significant growth potential in all markets Market size Consumption per capita 600 000 9 8.2 8 500 000 Market size in tonnes WFE 6.3 7 6.1 Kg WFE per capita 400 000 6 4.8 5 300 000 3.4 3.3 4 2.7 2.6 2.6 200 000 2.5 2.4 3 1.7 1.8 1.8 1.3 1.4 2 100 000 0.8 0.9 0.5 0.6 0.6 0.4 1 0.1 0.3 0 0 Belgium Fra
Slide 30: Mowi is well positioned to capitalise on these trends
Mowi is well positioned to capitalise on these trends • Global processing and sales presence – Asia: 6 VAP factories, 7 sales offices – Europe: 11 VAP factories, 15 sales offices – Americas: 4 VAP factories, 6 sales offices • Market-adapted processing capacity – Footprint restructuring – Growth in s
Slide 31: Our Branding strategy is long-term and strategically important for Mowi
Our Branding strategy is long-term and strategically important for Mowi • Leveraging our category leadership role • Accelerating the value of the market • De-commoditising the salmon market Page 31
Slide 32: The MOWI brand promise: CARING
The MOWI brand promise: “CARING” We care… …about the best salmon …about the environment …about our consumers SALMON IS GOOD, MOWI IS GOODNESS. Page 32 32
Slide 33: MOWI branded products
MQWI Pour votre santé, mangez au moins cing fruits et legumes par jour www.mangerbouger.fr
Slide 34: Our long-term target remains despite a challenging launch environment
Our long-term target remains despite a challenging launch environment • Target of >EUR 1 billion in turnover and 10% EBIT margin – Delayed by Covid-19 • Currently available as smoked and fresh prepacked in – Poland: retail and foodservice – France: retail – USA: e-commerce • Roll-out plan 2021 and b
Slide 35: Operational excellence, efficiency and yield management builds value for customers
Operational excellence, efficiency and yield management builds value for customers • As the largest VAP producer we will cut our costs by – Yield improvements – Labour efficiencies – Overhead and fixed-cost reductions • Processing excellence team – Establish benchmark and best practice – Focus on yi
Slide 36: Downstream strategy & potential
Downstream strategy & potential • Cost cutting – Raw material scanning and grading – Automation and robotisation – Planning logistics and warehousing • Increased value from differentiation – Right product to right customer – Raw material quality for best end product quality • Consumer and customer c
Slide 37: Page 37
Page 37
Slide 38: Global demand for salmon will continue to grow
Global demand for salmon will continue to grow • Mowi Sales & Marketing brings value to our customers by – Developing and producing products in line with consumer demand – Transforming the salmon category through branding – Increasing value by reducing cost Page 38
Slide 39: Farming Norway
Farming Norway Capital Markets Day 2021 Øyvind Oaland COO Farming Norway
Slide 40: Farming Norway
Farming Norway Business highlights Geographical overview of assets • Re-ignition of growth 12 Broodstock Sites MAB 20 Freshwater (smolt) Sites Grow-out: 182,427 / – Capacity >300,000 GWT organically 141 Seawater Sites 234 Licenses 5 Primary Processing Plant Brood: 6,240 • Realising Mowi Norway’s pos
Slide 41: Farming Norway South
Farming Norway South Business highlights Geographical overview of assets • Increase site capacity and farm utilisation 3+11) Broodstock Sites MAB 5 Freshwater (smolt) Sites Grow out: 39,512 – Extension of existing and access to new farms and farm MAB 27 Seawater Sites Brood: 1,560 1 Primary Processi
Slide 42: Farming Norway Mid
Farming Norway Mid Business highlights Geographical overview of assets • Site availability – bottleneck 3+11) Broodstock Sites MAB 9 Freshwater (smolt) Sites Grow out: 85,083 – Increase site capacity and farm utilisation 54+12) Seawater Sites Brood: 2,340 2 Primary Processing Plant Other3): 2,340 •
Slide 43: Farming Norway North
Farming Norway North Business highlights Geographical overview of assets • Our best-performing region 3+1 Broodstock Sites MAB 6 Freshwater (smolt) Sites Grow out: 57,832 – Good cost control, site availability and biological 54+51) Seawater Sites Brood: 2,340 conditions 2 Primary Processing Plant Ot
Slide 44: Mowi above industry benchmark on license utilisation in Norway in 2020
Mowi above industry benchmark on license utilisation in Norway in 2020 Harvest volume (GWT) per standard license (780 tonnes)1) 1300 1200 1100 1000 900 800 700 600 1 080 1 063 500 400 300 200 100 0 Mowi Industry Page 44 Note: 1)Includes companies with >10 standard licenses. Harvest volumes per 2020
Slide 45: However, untapped potential particularly in Region South and Region Mid
However, untapped potential particularly in Region South and Region Mid Harvest volume (GWT) per standard license (780 tonnes)1) Region South Region Mid Region North A A A Mowi North 1 162 B B C B C D E D Mowi Mid 1 092 F E G H Mowi 938 C South I J F K Average 1 121 Average 1 043 Average 1 038 0 400
Slide 46: Mowi Farming Norway accelerating growth
Mowi Farming Norway accelerating growth Postsmolt target size of 700 grams • Mowi has invested NOK 1.6 billion into Postsmolt share 1) freshwater in Norway in the past years 100% – Steady increase in average smolt size and 80% biomass release 60% – Smolt release >250 grams at 17.0% in 2020 40% 20% •
Slide 47: Postsmolt plan for Mowi Norway
Postsmolt plan for Mowi Norway • Postsmolt plan – up to 10 sites in total in Region South and Postsmolt expansion plans Region Mid Existing freshwater sites in – Expansion of existing freshwater sites plus potential greenfield Region South and Region Mid sites • Freshwater expansion of ca 27,000 ton
Slide 48: Nordheim postsmolt project: Construction phase has commenced
Nordheim postsmolt project: Construction phase has commenced Postsmolt highlights • Freshwater capacity increased by 3,500 tonnes to 5,600 tonnes • Ca 8 mill smolts at ~700 grams • Capex: NOK 450m • Capex/kg (including WC) ~ NOK 115/kg • Estimated increased harvest volumes of 5,300 GWT Timeline Acti
Slide 49: Smart Farming by 2025
Smart Farming by 2025 • Productivity increase through Mowi’s Smart Farming – Remote operations – Advanced underwater sensing and software analysis platform based on machine learning – Automation and simplification – Full value chain data capture and real-time analysis Page 49
Slide 50: Smart Farming by 2025
Smart Farming by 2025 • Further roll-out of remote operation centres Remote operation centres in Region North and Region Mid 2 Remote operation centres – 20 farms currently connected to our centre at 1 New RoC Deknepollen 28 Sea sites connected 9 113 Sea sites to be connected – All farms in PA 4 and
Slide 51: Smart Farming by 2025
Smart Farming by 2025 • Implementing advanced underwater sensing Intelligent sensor systems deployed and analysis platform 13 Sea sites with sensor technology – Researching and testing a new sensing system 97 Pens with sensor technology 10 based on machine learning – System that gathers intelligence
Slide 52: Continuous improvements – cost, productivity and biological performance
Continuous improvements – cost, productivity and biological performance • Systematic work to optimise growth and manage the Freshwater biological situation for improved harvest weights and survival Jøkelfjord rate 9 • Mowi Norway – focus on cross-regional benefits 6 • Cross-regional strategy teams f
Slide 53: Farming Scotland, Ireland and Faroes
Farming Scotland, Ireland and Faroes Capital Markets Day 2021 Ben Hadfield COO Farming Scotland, Ireland and Faroes
Slide 54: Mowi Scotland
Mowi Scotland Business highlights Geographical overview of assets • Harvest volume capacity >80,000 GWT 2+61 ) Freshwater (smolt) Sites 47 Seawater Sites – 7 new sites since 2015 1 Primary Processing Plant – New site applications in open sea areas • From 120-metre pens to 160-metre pens • Postsmolt
Slide 55: Mowi Scotland – farming productivity improvement programme
Mowi Scotland – farming productivity improvement programme • Advances in Oceanographic modelling, including bath Site example: treatment residues and benthic impact, secure regulatory 20 small pens replaced by 12 large pens change Deeper water – Removal of 2,500 tonnes MAB site cap allowing for expa
Slide 56: Mowi Scotland – new site developments
Mowi Scotland – new site developments • Mowi Scotland has secured >17,500 tonnes of increased Current farming footprint and potential new sites site-MAB from 2015-2020 Potential new farming sites – Application-based license system requires EIA • High-energy sites have improved biological performance
Slide 57: Mowi Scotland – postsmolt
Mowi Scotland – postsmolt • Smolt up to 800g with Scottish seawater temperatures Located next to existing feed mill in Kyleakin allows for harvesting within 12 months • Accretive MAB development • Consultation ongoing to build 3,000-tonne postsmolt unit at Kyleakin, Isle of Skye • Full seawater RAS
Slide 58: Cost reduction and differentiation opportunities
Cost reduction and differentiation opportunities • Highly integrated Feed, Farming and Consumer Products business in Scotland • Exceptional product quality • Differentiated production for key retailers and key market segments such as Organic and Label Rouge • Significant productivity improvements fr
Slide 59: Mowi Ireland
Mowi Ireland Business highlights Geographical overview of assets • High demand for premium Irish Organic Salmon 1 Broodstock Sites – Focus on quality and exceptional customer service and flexibility 3 Freshwater (smolt) Sites Continuity of supply strengthened by Organic production in Scotland 8 Seaw
Slide 60: Mowi Faroes
Mowi Faroes • …. Business highlights Geographical overview of assets • Maintain and enhance high-quality, low production cost performance 1 Freshwater (smolt) Sites • Small incremental production increases in exposed locations, assist in cost 3 Seawater Sites 1 Primary Processing Plant dilution • Ev
Slide 61: Farming Americas
Farming Americas Capital Markets Day 2021 Fernando Villarroel COO Farming Americas
Slide 62: Mowi Chile
Mowi Chile Business highlights Geographical overview of assets • Growth in line with traffic light system 2 Broodstock Sites 2 Freshwater (smolt) Sites – ~3-4% annual volume growth 26 Seawater Sites 2 Primary Processing Plant • Focus on developing current assets Region X • Focus on efficient product
Slide 63: Focus on core farming, efficient production and low cost
Focus on core farming, efficient production and low cost • Maximise smolt stocking within current regulatory regime • Reduce smolt and brood costs – Continue building internal smolt capacity – Consolidation of brood and genetics capacity – Genomic selections • Increase efficiency in seawater – Large
Slide 64: Continued investment in productivity and capacity
Continued investment in productivity and capacity • Increased freshwater capacity – Investments in internal smolt capacity – New genetics and brood units to consolidate from three production units in one modern facility • Processing excellence – Double the harvest capacity to reduce waiting time on
Slide 65: Mowi Canada
Mowi Canada • ….OK Business highlights Geographical overview of assets • Restructuring of Canada West and East 5 Broodstock Sites 6 Freshwater (smolt) Sites 76 Seawater Sites • Strategy to maintain 30,000 GWT in Canada West 2 Primary Processing Plant • Significant growth potential in Canada East – C
Slide 66: Restructuring of Mowi Canada West
Restructuring of Mowi Canada West • Freshwater Revised operational plan Geographical overview of assets • In December 2020 the government decided to phase out 3 Broodstock Sites 3 Freshwater (smolt) Sites salmon farming licenses in Discovery Islands by 30 June 36 Seawater Sites 2022 1 Primary Proces
Slide 67: Turnaround of Mowi Canada East
Turnaround of Mowi Canada East • Lagging our growth plans since acquisition in 2018 due to biological and environmental challenges • Turnaround plan − Change of execution plan – initial plan too ambitious − Changed management − Aim to return to profitability and growth trajectory − Improve biologica
Slide 68: Feed
Feed Capital Markets Day 2021 Atle Kvist COO Feed
Slide 69: Mowi Feed
Mowi Feed Business highlights Geographical overview of assets • Focus on efficient, high-performance feed at low cost • Production growth in line with volume growth in farming in Europe Production • Current capacity of 640,000 tonnes is sufficient to supply internal capacity (tonnes) demand in addit
Slide 70: The Norwegian feed mill produces at close to full capacity
The Norwegian feed mill produces at close to full capacity • First feed plant opened in June 2014 at Valsneset, High capacity utilisation Norway Production capacity Actual production 400 • The feed plant has a premium coastal location with deep-water access 380 360 • In 2020 the Norwegian feed plant
Slide 71: New and modern feed plant on Scotland's West coast
New and modern feed plant, highly flexible in feed production with strategic location on Scotland’s West coast • The second feed plant opened in 2019 in Scotland 2020 production in line with customer orders • Delivers freshwater, seawater and organic feed to our Production capacity Actual production
Slide 72: Smart Operations the next level for Mowi Feed
Smart Operations the next level for Mowi Feed • Productivity increases through Smart Operations - Data collection and sensors - Robotics, automation and AI-technologies • Gives established methods a new edge • Drives change through the entire value chain • Reduces manufacturing and supply chain cost
Slide 73: The product range satisfies the feed requirements of our farming division
The product range satisfies the feed requirements of our farming division • The portfolio includes feed for all life Breakdown of product produced (salmon weight class) stages in seawater Norway Scotland – Organic 2020 2020 2% Size < 75 g 13% 9% 8% – Conventional Size 200 g 11 % 6% Size 600 g 13% •
Slide 74: We tailor our feed to match the changing requirements of the fish
We tailor our feed to match the changing requirements of the fish through the life cycle • Modern feed formulas and feeding skills make us a net Salmon feed – what’s in it? producer of fish Supplements 5% – Fish-In : Fish-Out = 0.68 Fishmeals 21% 4% 15% Vegetable oils • Continued investment in feed
Slide 75: Mowi's policy on sourcing sustainable raw feed materials
Mowi’s policy on sourcing sustainable raw feed materials Marine raw Vegetable raw Traceability materials materials Modern slavery Certification All ingredients used in Our marine raw materials We support efforts to Mowi has a zero- As a minimum, feed salmon feed shall have a processed from whole fis
Slide 76: ESG + R&D
ESG + R&D Capital Markets Day 2021 Catarina Martins Chief Sustainability and Technology Officer
Slide 77: Our contribution to making the world a better place
Our contribution to making the world a better place Two of the biggest challenges humanity is facing: climate change and food security Increased food production needs to be climate friendly and healthy Seafood has a lower carbon footprint than land- based proteins and is rich in omega-3 fatty acids
Slide 78: Ocean-based Atlantic salmon farming is on the right side of sustainability
Ocean-based Atlantic salmon farming is on the right side of sustainability Salmon is the most sustainable farmed animal protein alternative Protein retention 28% 37% 21% 13% Feed conversion ratio (“FCR”) 1.3 1.9 3.9 8.0 Edible meat per 100 kg feed 56 kg 39 kg 19 kg 7 kg Carbon footprint 7.9 kg 6.2 k
Slide 79: Avoided carbon emissions
Avoided carbon emissions Page 79
Slide 80: Mowi ranked #1 on sustainability amongst food producers
Mowi ranked #1 on sustainability amongst food producers Sustainability ratings and awards Rating agencies About the rating Score Mowi ranked as the most sustainable animal protein producer in the world (amongst the largest 60 animal 1st protein producers in the world) for two consecutive place years
Slide 81: Our sustainability achievements
Our sustainability achievements in FAIRR (most 100% 2.7% sustainable animal protein in the world) of harvest volumes are GHG emissions Leadership category certified sustainable reduction in climate action and supplier engagement by CDP Further reduction in 100% 93% compliant with sustainable of our
Slide 82: Mowi's ESG strategy: sustainable certification
Mowi’s ESG strategy: sustainable certification 100% of Mowi’s harvest volumes in 2020 were sustainably certified by a GSSI* recognised standard * Global Sustainable Seafood Initiative Page 82
Slide 83: Mowi's ESG strategy: Leading the Blue Revolution Plan
Mowi’s ESG strategy: Leading the Blue Revolution Plan Page 83
Slide 84: Transparency and communicating about our sustainability progress
Transparency and communicating about our sustainability progress Page 84
Slide 85: Mowi's ESG strategy: Climate Change
Mowi’s ESG strategy: Climate Change Page 85
Slide 86: Mowi's ESG strategy: Responsible Plastic Use
Mowi’s ESG strategy: Responsible Plastic Use Page 86
Slide 87: Mowi's ESG strategy: Circularity and Waste
Mowi’s ESG strategy: Circularity and Waste Page 87
Slide 88: Salmon promotes good health and well-being
Salmon promotes good health and well-being Page 88
Slide 89: We create a positive impact on local communities
Providing meaningful jobs We create a positive impact on local communities by providing employment opportunities and enabling their development by supporting local schools, sports and cultural activities Page 89
Slide 90: Mowi R&D
Mowi R&D Norway = Global R&D and Technical depariment (Headquarters) — Center for Aquaculture Competence (CAC AS)* ~ Semi-closed production technologies (Neptun) — Blue Revolution Centre** : _) Japan/Taiwan — New Product . Western Europe (Belgium, France,Spain, NL) — New Product development center M
Slide 91: From farm to fork: Innovating for the future
From farm to fork: Innovating for the future • Genomic selection • Maintain raw • Constructing state of • Further reduce • Ensure premium • Sustainable for best genetics material flexibility the art RAS facilities medicine use product quality packaging • Nutrition and • Ensure optimal • Exploring ne
Slide 92: Summary
Summary Capital Markets Day 2021 Ivan Vindheim CEO
Slide 93: Summary Capital Markets Day
Summary Capital Markets Day • Mowi Farming working along three main pillars; volume, cost and sustainability – Equally important • Continue to address profitable volume growth initiatives going forward – Main focus is conventional farming – However, monitoring development in alternative technologies
Slide 94: Q&A session
Q&A session Capital Markets Day 2021