Mowi boss Ivan Vindheim keeps the powder dry.
Earlier today, Mowi presented the results for the third quarter. The fish farming giant spent 80 million euros (880 million kroner) on operations in a market-demanding period.
At the end of the third quarter, the company had a net interest-bearing debt of EUR 1,459 million (NOK 17.5 billion), against the long-term target of EUR 1,400 million (NOK 15.4 billion).
– We tie up working capital in the autumn and redeem it in the spring, so the debt level is very comfortable. Ideally, you are usually a little above target in the second half of the year, and fall back to spring, says Mowi boss Ivan Vindheim to TDN Direkt.
Vindheim emphasizes that Mowi has a very conservative balance, which provides opportunities if they should appear.
– We want to have muscles that can be used. If you are constantly stretched, it is difficult to turn around when opportunities arise, he says.
Mowi dropped, possibly also for balance reasons, the payment of quarterly dividends to shareholders.
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