Ahead of the Q2 trading update we estimate an EBIT of EUR 201m. In our Q2 estimate we use a Norwegian salmon price of EUR 6.67/kg (NOK 73) which is down from EUR 7/kg. The change negatively impacts estimates. However, somewhat offsetting the negative impact is that we estimate a volume beat in Norway. Our well boat tracker suggests that Mowi should harvest around 90,000t in Norway (not 84,000t which is guided). Although we have raised Q2 estimates by 6,000t, we have not changed our full year est ....
