A worker performs tasks in a cage of salmon. (Photo: Norway Royal Salmon)
Norway Royal Salmon obtains record results in Q1
(NORWAY, 5/5/2016)
Norway Royal Salmon (NRS) informed that in the first quarter this year it obtained the highest EBIT in the history, NOK 153.1 million (USD 19 million). This result represents a 120.9 growth compared to the same period last year.
The Group's operating revenues were NOK 938.8 million (USD 116.7 million), representing an increase of 24 per cent from the corresponding prior-year period.
Despite the 4 per cent reduction in harvests -- from 7,514 tonnes of gutted weight in Q1 last year to 7,209 tonnes in the same period this year -- the farming sector achieved a record high operational EBIT per kg of NOK 25.54 (USD 3.1) due to higher prices.
During the analysed period, NRS's farming operations in the Northern Region experienced higher mortality than normal due to sores on fish at the Barbogen site, which belongs to the subsidiary Nor Seafood AS, in Troms.
The firm’s sources informed that as a result of the significant negative development in sores and fish health, the biomass at the site was culled in the first quarter.
On the other hand, NRS recalled that in early March it had acquired 135 shares in Nord Senja Laks AS from Botnhamn Fisk AS and so the Group owns 100 per cent of the shares in this company.
“The rationale behind the transaction is to consolidate NRS’s farming operations in Northern Norway in order to increase production efficiency going forward. The transaction fortifies NRS’s position in Troms, an important future growth area for the salmon farming industry,” NRS's report reads.
It also highlights that in February another five sites at NRS Finnmark received Aquaculture Stewardship Council (ASC) certification, resulting in a total of seven ASC-certified sites at NRS Finnmark.
As to the outlook for the future, the Group’s executive board expects that the allocation of new licenses will further strengthen the firm’s position, since even with slightly lower total sales volumes, NRS had a growth of 7 per cent in the first quarter in Western Europe.
[email protected]
www.seafood.media
Information of the company:
Address:
|
Olav Tryggvasons 40
|
City:
|
Trondheim
|
State/ZIP:
|
(NO-7414)
|
Country:
|
Norway
|
Phone:
|
+47 73 92 43 00
|
Fax:
|
+47 73 92 43 01
|
E-Mail:
|
[email protected]
|
More about:
|
Approval / Accreditation / Certified / Oversight by...
|