Operational EBIT of NOK 720 million in the third quarter
October 28 2015 - 2:05AM
Marine Harvest achieved an operational EBIT of NOK 720 million
in the third quarter of 2015, compared to NOK 912 million in the
corresponding quarter of 2014.
Supported by the operating results, a strong forward market,
good cash flow, and a solid financial position, the Board has
resolved a quarterly dividend of NOK 1.40 per share.
- I am very pleased with another record-breaking
quarter in Marine Harvest Fish Feed. There is a strong demand for
salmon in Europe and the market balance for 2016 is expected to
remain tight, says CEO Alf-Helge Aarskog.
Marine Harvest Group reported operational revenues
of NOK 6 910 million (NOK 6 202 million) in the third quarter of
2015. Total harvest volume were 105 963 tonnes in the quarter (107
333 tonnes). Harvest guidance for 2015 is 425 000 tonnes,
5 000 tonnes lower than the previous guidance. Guidance for
2016 is 440 000 tonnes.
Salmon of Norwegian origin achieved an operational
EBIT per kilo of NOK 10.11 (NOK 9.71) in the third quarter, while
salmon of Scottish and Canadian origin reported operational EBIT
per kilo of NOK 6.14 and NOK 1.36 respectively (NOK 9.95 and
NOK 4.70). Salmon of Chilean origin reported operational EBIT per
kilo of NOK -6.50 in the quarter (NOK 6.06). The figures include
contribution from Sales and Marketing, including Consumer Products.
Consumer Products reported an operational EBIT of NOK 41 million
compared to NOK 44 million in the third quarter of 2014. Fish Feed
reported an operational EBIT of NOK 73 million (NOK 20
million).
-The production cost in the quarter is high due to
biological issues and negative impact from currency. Increasing sea
lice mitigation cost in Norway is a concern. Sea lice are the
industry's biggest challenge. To combat this, Marine Harvest has
implemented a new sea lice management strategy, says Aarskog.
For further information, please contact:
Ivan Vindheim, CFO, Mobile: +47 958 71 310 Kim Galtung Døsvig, IR
Officer & Head of Treasury, Mobile: +47 908 76 339
About Marine Harvest Group Marine Harvest
Group is the world's leading seafood company and largest producer
of farmed salmon, with presence in 24 countries and a total of 11
700 employees worldwide. The company is headquartered in Bergen,
Norway, and is listed on the Oslo Stock Exchange and New York Stock
Exchange (NYSE). Please see www.marineharvest.com for further
information.
Forward looking statements
This release may be deemed to include
forward-looking statements, such as statements that relate to
Marine Harvest's goals and strategies, salmon prices, ability to
increase or vary harvest volume, production capacity, trends in the
seafood industry, restructuring initiatives, exchange rate and
interest rate fluctuations, expected research and development
expenditures, business prospects and positioning with respect to
market, demographic and pricing trends, strategic initiatives, and
the effects of any extraordinary events and various other matters
(including developments with respect to laws, regulations and
governmental policies regulating the industry and changes in
accounting policies, standards and interpretations) on Marine
Harvest's business and results. Forward-looking statements are
typically identified by words or phrases, such as "believe,"
"expect," "anticipate," "intend," "estimate," "may increase," "may
fluctuate," "plan," "goal," "target," "strategy," and similar
expressions or future or conditional verbs such as "may," "will,"
"should," "would," and "could." Forward-looking statements are
Marine Harvest's current estimates or expectations of future events
or future results. Actual results could differ materially from
those indicated by these statements because the realization of
those results is subject to many risks and uncertainties. Marine
Harvest ASA's registration statement on Form 20-F filed in 2014,
including the section captioned "Risk Factors," contain additional
information about factors that could affect actual results,
including: changes to the price of salmon including the value of
our biological assets; hedging risks; risks related to fish feed;
economic and market risks; environmental risks; operational risks;
risks related to escapes, disease and sea lice; product risks;
risks related to our acquisitions; financing risks; regulation
risks including relating to food safety, the aquaculture industry,
processing, competition and anti-corruption; trade restriction
risks; litigation risks; tax and accounting risks; strategic and
competitive risks; and reputation risks. All forward-looking
statements included in this release are based on information
available at the time of the release, and Marine Harvest assumes no
obligation to update any forward-looking statement.
This information is subject to the disclosure
requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act.
Interim Report Q3 2015
http://hugin.info/209/R/1961943/715488.pdf Presentation of 3rd
Quarter 2015 http://hugin.info/209/R/1961943/715489.pdf
HUG#1961943
Mowi Asa (PK) (USOTC:MHGVY)
Historical Stock Chart
From May 2024 to Jun 2024
Mowi Asa (PK) (USOTC:MHGVY)
Historical Stock Chart
From Jun 2023 to Jun 2024