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Strong Performance in Q4 for Marine Harvest

05 February 2015

NORWAY - Marine Harvest achieved an operational EBIT of NOK 1 032 million in the fourth quarter of 2014, compared to NOK 1 037 million in the corresponding quarter of 2013.

"Marine Harvest delivered a strong operational EBIT in the fourth quarter of 2014. As a consequence of the good result, the Board has resolved a quarterly dividend of NOK 1.20 per share," said CEO Alf-Helge Aarskog.

Marine Harvest Group reported operational revenues of NOK 6 863 million (NOK 6 743 million) in the fourth quarter of 2014, which is record high. Total harvest volumes were 105 122 tonnes in the quarter (103,378 tonnes). Harvest guidance for 2015 is 440,000 tonnes.

"We have increased our feed self-sufficiency in Norway from 60 to 80 per cent. Through the gradual in-sourcing of feed, we expect lower feed costs as well as improved growth, better feed conversion ratio and improved quality of the end product," said CEO Alf-Helge Aarskog.

Salmon of Norwegian origin achieved an operational EBIT per kilo of NOK 12.59 (NOK 12.04) in the fourth quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of NOK -3.42 and NOK 3.69 respectively (NOK 10.25 and NOK 10.20).

Salmon of Chilean origin achieved an operational EBIT per kilo of NOK 0.35 (NOK 2.48). The figures include contribution from Sales and Marketing, including VAP Europe and Morpol Processing.

Marine Harvest VAP Europe reported an operational EBIT of NOK 36 million compared to NOK -37 million in the fourth quarter of 2013. Morpol Processing reported an operational EBIT of NOK 81 million (NOK 63 million).

"I'm excited about the contemplated merger with AquaChile. Our already strong position within salmon farming in Chile will be further strengthened, and the combined entity will benefit the entire Chilean industry from a sustainability point of view," said Mr Aarskog.

TheFishSite News Desk



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