Mowi Asa (MNHVF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone, and welcome to the presentation of MoE's second quarter results of 2026. Both to those of you who are in the room here with me this morning at the SAMEN, our combined exhibition center and fish restaurant at Aker Brygge, and of course to those of you who are following us online across the world, which is the majority. And to those of you who are in the room with me this morning, I hope you have settled in well, had something to drink and grabbed a bite to eat, a bite of some of our delicious Mowi products. And to those of you who are following the presentation online, I hope you have made yourselves comfortable so you can follow along in quiet and peace. Otherwise, my name is Ivan Vindheim, and I'm the CEO of Moe, and together with our CFO Kristian Ellingsen, I will take you through the numbers and the fundamentals this morning, and to the best of my and our ability, add a few appropriate comments to them. And after the presentation, our IRO, Kim Dosvig, will routinely host a Q&A session. For those of you who are following the presentation online, you can submit your questions or comments in advance as we go along by email. Please refer to the website at movi.com for the necessary details. This Glamour is both long and extensive, so I think we leave it for self-study. So without further ado, I think we are ready for the highlights of the quarter. And if we kick things off with a big picture first this morning, As long expected and also guided, industry supply growth dropped finally back to a more normal level in the second quarter, down to a relatively low single-digit rate of 2.6%, unadjusted for inventory, and 6.1% adjusted for inventory after a year of unprecedented double-digit industry supply growth. But on top of comparables, so... It wil...