Salmon farming. (Photo: Marine Harvest)

Marine Harvest registers lower earnings in Q4 2017

Marine Harvest achieved an operational EBIT of EUR 177 million in the fourth quarter of 2017, a figure that represents a fall of 31.7 percent compared to the EUR 259 million obtained in the same period of 2016.

However, this result is above the EUR 172 million that had been forecast by analysts consulted by Reuters.

The total volume of salmonid harvests reached 113,000 tonnes (gutted weight equivalent) in the analyzed quarter, 2,000 tonnes more than the 111,000 tonnes estimated for this period when the company published its third quarter results.

The harvest volumes obtained in the fourth quarter of 2017 in the different countries where the Norwegian group operates, were:

• Farming Norway      66.5 thousand tonnes
• Farming Scotland    13.0 thousand tonnes
• Farming Canada     10.0 thousand tonnes
• Farming Chile         17.0 thousand tonnes
• Farming Ireland      2.5 thousand tonnes
• Farming Faroes       4.0 thousand tonnes
• Total                     113.0 thousand tonnes

Marine Harvest also reported that operational EBIT per kg through the value chain was approximately as detailed below for the main sources of origin:

• Norway     EUR     1.75
• Scotland    EUR     1.20
• Canada     EUR     1.00
• Chile         EUR     1.00
• Ireland      EUR     2.75
• Faroes       EUR     3.00

The net financial debt declared (NIBD) was approximately EUR 835 million at the end of the quarter.

Marine Harvest will present a full report on the results of the fourth quarter of 2017 on February 14.

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Address:	Stortingsgaten 8
City:	Oslo
State/ZIP:	(N-0161)
Country:	Norway
Phone:	+47 21 56 20 00
Fax:	+47 21 56 20 01
E-Mail:	[email protected]
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