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Good Earnings for Sal Mar in Q2 2014

01 September 2014

NORWAY - Continued high prices, favorable harvest profile and a volume increase of 54 per cent from the same period last year resulted in revenue growth and increased operational EBIT for SalMar in the second quarter 2014.

However, persistent biological challenges associated with lice treatment and PD-handling issue affected profit.

Revenues totaled 1.74 billion during the period, an increase of 312 million from the second quarter of 2013.

Operational EBIT totaled 447 million, up from 316 million in the corresponding period last year. A total volume of around 35,100 tonnes during the period, so that EBIT per kilo ended at 12.75 dollars.

In the second quarter last year ended harvest volume of 22,800 tonnes resulting in an EBIT per kg of NOK 13.84.

Average price of salmon in the quarter was 40.29 per kg, down 15 per cent from the previous quarter and five per cent from the corresponding period last year. SalMar however, achieved good prices during the period. This is due to high contract coverage and favorable distribution of harvest volumes during the quarter. 

"The improvement is mainly due to relatively high harvest and good contract coverage. The result is also affected by costs related to the effects of PD and to keep lice levels at a low level. However, we see a tendency towards improvement in the underlying cost even if we are in a period where the lice situation is challenging," said CEO Leif SalMar Nordhammer.

Further Reading

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