Marine Harvest salmon processing plant. (Photo: Marine Harvest)
Marine Harvest achieves record operational revenue in Q3
(NORWAY, 11/2/2017)
Marine Harvest achieved an operational EBIT of EUR 194 million in the third quarter of 2017, compared to EUR 180 million it reported in the corresponding quarter last year thanks to a strong market outlook, and a solid financial position.
“Driven by high salmon prices on strong demand and improved contributions from our sales contracts, we achieved record high operational results in the third quarter,” pointed out the firm’s CEO Alf-Helge Aarskog.
The executive explained that costs decreased for farming operations in Norway, Chile and Canada in the quarter and that the firm continues to have the utmost focus on cost reduction throughout the organization.
The Group reported operational revenues of EUR 868 million in the third quarter of 2017, 2 per cent more than in the corresponding quarter a year ago.
Although spot prices experienced a seasonal decline, the improvement in contract prices significantly contributed to good results.
Total harvest volume was 95,338 tonnes in the quarter, a 19 per cent reduction from 97,215 harvested in the third quarter last year. The company has reduced its 2017 harvesting goal to 369,000 tonnes because of biological issues in Norway.
The firm ensured it actively works to reduce the sea lice load in all farming units. Canada, Ireland and all regions in Norway reported lower sea lice levels at the end of the third quarter of 2017 compared to the end of the third quarter last year.
Marine Harvest informed that the results in the farming business unit was good with positive contributions from all farming regions. Meanwhile, the results in Consumer Products was negatively impacted by a seasonally low quarter, however, operational performance continues to improve.
Feed had a good quarter with a seasonally high factory throughput.
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Information of the company:
Address:
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Stortingsgaten 8
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City:
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Oslo
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State/ZIP:
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(N-0161)
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Country:
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Norway
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Phone:
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+47 21 56 20 00
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Fax:
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+47 21 56 20 01
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E-Mail:
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[email protected]
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