Marine Harvest has reported robust results for the third quarter of 2014. Ranked as the world’s largest farmed salmon producer, the Bergen, Norway-headquartered company achieved an operational EBIT of NOK 912 million during the period, compared to NOK 793 million in the corresponding quarter of 2013.
“The targeted strategy of reducing the dependency of spot prices paid off during the recent drop in salmon prices, said CEO Alf-Helge Aarskog. “As a consequence of the good results, the board has resolved a quarterly dividend of NOK 1.10 per share.”
Operational revenues and other income amounted to NOK 6,202 during the quarter, compared to NOK 4,307 million during the previous year. Total harvest volumes weighed in at 107,333 tons in the quarter, compared to 80,921 tons in 2013.
The anticipated harvest for 2014 is unchanged at 414,000 tons. The goal for 2015 is 430,000 tons, excluding the expected 15,000 tons production from Acuinova in Chile.
“The successful startup of our first feed plant is a milestone in Marine Harvest’s effort to be a leader in the three areas fish feed production, farming and value added processing,” said Aarskog. “I’m proud to say the factory is profitable from the first quarter of operations.
Salmon of Norwegian origin achieved an operational EBIT per kilo of NOK 9.71 in the third quarter (NOK 9.96 in 2013), while salmon of Scottish and Canadian origin recorded operational EBIT per kilo of NOK 9.95 and NOK 4.70, respectively, compared with NOK 16.47 and NOK 10.92 the year before. Salmon of Chilean origin achieved an operational EBIT per kilo of NOK 6.06, compared with NOK 1.68 the year before.
“We have strengthened our position in Chile with an agreement to buy 40, 000 tons integrated farming capacity. The yield is expected to be 15,000 tons in 2015. This is an important step in the consolidation of the salmon industry in Chile,” said Aarskog.
Third quarter figures include results from Sales and Marketing, including VAP Europe and Morpol Processing. Marine Harvest VAP Europe reported an operational EBIT of NOK -27 million, compared to NOK -11 million in the third quarter of 2013. Morpol Processing recorded an operational EBIT of NOK 71 million.
