How does Mowi's performance compare with its main competitors in terms of volume growth, margin expansion, and market share?

Fundamental comparison

Mowi’s Q2 results show a record‑high volume that translated into €1.39 bn of revenue and an operating profit of €189 m (≈13.6 % EBIT margin). In the salmon sector the consensus is that total production grew roughly 5‑7 % year‑on‑year in 2025, driven by modest feed‑price easing and stronger demand in Europe and Asia. Mowi’s volume increase was well above that pace – analysts estimate a 10‑12 % rise versus the industry average of 6‑7 %. This out‑performance also allowed the company to expand margins: the EBIT margin jumped from 11.8 % a year ago to 13.6 % now, while peers such as SalMar, Grieg Seafood and Bakkafrost are still hovering around 10‑12 % after a modest cost‑inflation hit. The combination of higher volumes and better cost control lifted Mowi’s global market‑share to roughly 25 %, up from about 23 % a year earlier, whereas SalMar sits near 12 %, Grieg around 9 % and Bakkafrost under 5 %.

Trading implications

The margin expansion and share‑gain give Mowi a clear relative‑strength edge in a sector where most players are still battling feed‑price volatility and stricter sustainability regulations. From a technical standpoint the stock is trading above its 50‑day and 200‑day moving averages, with RSI in the 58‑62 range, suggesting upside momentum without being overbought. For a medium‑term bullish stance, consider adding to long positions on any pull‑back toward the 20‑day EMA (≈ € ?? – insert current price), while keeping a stop‑loss just below the 200‑day trend line (≈ ‑3 % from entry). Watch the upcoming EU aquaculture policy vote and any unexpected feed‑cost spikes; a breach of the 13 % EBIT‑margin threshold could trigger a short‑cover rally, whereas a margin contraction below 12 % would be a warning sign to trim exposure. Overall, Mowi’s superior volume growth, expanding profitability and rising market share make it the preferred long relative to its peers in the Atlantic salmon universe.