Canada and Scotland top performers for MH20 April 2017
Marine Harvest has reported a decent first quarter to the year, with their operations in Canada and Scotland faring particularly well.
Their Canadian operations yielded 9,000 tonnes at an average EBIT/kg of €3.35; their Scottish operations 18,000 tonnes at €3.00/kg; their Norwegian operations 49,000 tonnes at €2.50/kg; and their Chilean operations 6,000 tonnes at €1.85/kg.
The performance in Scotland showed a marked improvement compared to the first quarter of 2016, when they harvested 12,620 tonnes at an average EBIT/kg of €0.68 per kg.
When their Faroese and Irish operations were factored in the total harvest volume for the group in the first quarter of the year was 84,000 tonnes. Operational EBIT for the Group was approximately €215 million, up from €112 million in the same quarter last year.
Reported net interest bearing debt (NIBD) was approximately €845 million at the end of the quarter. The complete Q1 2017 report will be released on 10 May.