Salmon processing plant. (Photo: Marine Harvest)

Strong salmon demand contributes to Marine Harvest’s good result

Marine Harvest (MH) reported operational revenues of EUR 862 million in the first quarter of 2018, which is 3.4 per cent below EUR 892 million obtained in the corresponding quarter last year.

According to the company’s CEO Alf-Helge Aarskog, the market situation has led to high prices and a good result for the firm in the first analised quarter.

Based on this and considering the strong market outlook and a solid financial position, the Group’s Board has resolved a quarterly dividend of NOK 2.60 (USD 0.3) per share.

Total harvest volume was 81,212 tonnes in the quarter, compared to 83,768 tonnes in the first quarter in 2017. Estimated harvest volume for the full year of 2018 have been reduced from 410,000 tonnes to 400,000 tonnes due to less growth in sea.

Salmon of Norwegian origin achieved an operational EBIT per kilo of EUR 2.26 in the analysed quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of EUR 1.85 and EUR 1.10, respectively. Salmon of Chilean origin reported operational EBIT per kilo of EUR 1.36 in the quarter.

Marine Harvest points out that the Norwegian biomass has dropped in the last months. At year-end it was up 10 per cent year-over-year, however, in recent months it has gradually declined and by the end of March it was up by only 6 per cent year-over-year, which will have an impact on industry harvest volumes in the periods to come and that the harvest weights continue to recover in Norway which is positive from a biological point of view.

In connection to Scotland, MH states that it continues to be challenging, however, the results in the quarter were satisfactory supported by good contract prices.

Results in Farming Chile were impacted by the lower salmon prices compared to last year, however, this was more than offset by higher volumes and generally lower cost. The Board expects costs to increase in the second quarter due to lower harvest volumes.

MH Consumer Products reported an operational EBIT of EUR 20.9 million and MH Feed reported an operational EBIT of EUR -4.3 million.

“I am encouraged by Marine Harvest Consumer Products and its seasonally record high results. It is also very satisfactory that our organic farming operations in Marine Harvest Ireland have achieved record high first quarter results on strong demand and reduced costs,” pointed out Aarskog.

 
editorial@seafood.media
www.seafood.media

Address:	Stortingsgaten 8
City:	Oslo
State/ZIP:	(N-0161)
Country:	Norway
Phone:	+47 21 56 20 00
Fax:	+47 21 56 20 01
E-Mail:	corporate@mowi.com
More about:

 

 

 

 

Print