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Marine Harvest Volumes In-Line with Expectations

21 January 2015

NORWAY - Norwegian aquaculture and fish processing giant Marine Harvest has reported a total harvest volume of 105,000 tonnes for the fourth quarter of 2014.

In its third quarter results, Marine Harvest had forecast a total harvest volume of 100,000 tonnes (HOG) for the fourth quarter of 2014.

Operations in Norway led the way with 70,000 tonnes. This was followed by Chile (17,000 tonnes), Canada (7,000 tonnes), Scotland (6,000 tonnes) and other (5,000 tonnes).

Operational EBIT for the Group was approximately NOK 990 million in the fourth quarter of 2014 compared to NOK 1,034 million in the fourth quarter of 2013.

Reported net interest bearing debt (NIBD) was approximately NOK 9,300 million at the end of the quarter.

Marine Harvest said that weakening of the Niorwegian Krone relative to the main borrowing currencies (Euro, US dollar and sterling), caused a short fall of NOK 850 million in the quarter.

Net interest bearing debt was also affected by the Acuinova acquisition, with approximately $102 million of the agreed transaction value of $125 million paid in the quarter.

 

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