Harvesting activities. (Photo: Marine Harvest)
Marine Harvest increased operational earnings in Q3, with lower harvest
NORWAY
Wednesday, October 18, 2017, 00:40 (GMT + 9)
Marine Harvest achieved operating EBIT of EUR 191 million in the third quarter of 2017, representing a growth of 6.1 per cent over the EUR 180 million it had obtained in the same period of 2016.
The total volume of its salmonid harvests amounted to 95,500 tonnes (eviscerated equivalent weight) in the quarter analyzed, 1,500 tonnes less than in the same quarter of 2016 and 5.4 per cent below the 101,000 tonnes it had estimated when it published the results of the previous quarter.
The harvest volumes obtained in the third quarter of 2017 in the different countries where the Norwegian group operates were:
- Norway: 55.5 thousand tonnes
- Scotland: 11.0 thousand tonnes
- Canada: 11.0 thousand tonnes
- Chile: 14.0 thousand tonnes
- Ireland: 3.0 thousand tonnes
- Faroes: 1.0 thousand tonnes
- Total: 95.5 thousand tonnes
Marine Harvest also reported that operating EBIT per kg across the value chain was approximately as detailed below for the major sources of origin:
- Norway: EUR 2.25
- Scotland: EUR 2.30
- Canada: EUR 1.70
- Chile: EUR 1.25
- Ireland: EUR 3.20
- Faroes: EUR 2.25
Reported net interest bearing debt (NIBD) was approximately EUR 665 million at the end of the quarter.
Marine Harvest will release the complete Q3 2017 report on November 1.
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Photo Courtesy of FIS Member Mowi ASA (formerly Marine Harvest ASA) - Headquarters
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