The first
quarter of 2014 was a strong quarter for Marine Harvest. We see both record
high prices and profit. As a consequence of the good results, the board has
proposed a quarterly dividend of NOK 5 per share. The results are negatively
impacted by high contract share in the quarter. Further, we still see a
potential for even stronger results by improving the production costs in many
areas of our operation, says CEO Alf-Helge Aarskog.
Marine Harvest Group reported operational
revenues and other income of NOK 5 868 million (NOK 3 736 million) in the first
quarter of 2014.
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Salmon of Norwegian origin achieved an
operational EBIT per kilo of NOK 12.82 (NOK 8.39) in the first quarter, while
salmon of Scottish and Canadian origin reported operational EBIT per kilo of
NOK 12.66 and NOK 19.10 respectively (NOK 7.87 and NOK 6.63). Salmon of
Chilean origin achieved an operational EBIT per kilo of NOK 6.73 (NOK -6.27).
The figures include contribution from Sales and Marketing, including VAP Europe
and Morpol Processing. Marine Harvest VAP Europe reported an operational EBIT
of NOK -25 million compared to NOK - 18 million in the first quarter of 2013.
Morpol Processing reported an operational EBIT of NOK -38 million.
Marine Harvest Group harvested a volume
of 92 243 tonnes gutted weight in the first quarter, compared to 80 035
tonnes in the corresponding quarter of 2013. Harvest guidance for 2014 is
increased from 405 000 tonnes to 417 000 tonnes.
-The demand
in the first quarter was very high, and we expect this to continue. We are
encouraged by the high future prices, given the relatively high supply growth
for the remainder of the year. I'm convinced that the combination of strong operational
performance and high financial flexibility put us in a great position for
further development, says Aarskog.
This blog is maintained by The Aquaculturists staff and is supported by the magazine International Aquafeed which is published by Perendale Publishers Ltd.
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