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Marine Harvest Shows Small Drop in Operating Profit

30 April 2015

NORWAY - Marine Harvest achieved an operational profit of NOK 932 million in the first quarter of 2015, compared to NOK 970 million in the corresponding quarter of 2014.

Marine Harvest delivered a satisfactory operational EBIT in the first quarter of 2015. As a consequence of the good result, the Board has resolved a quarterly dividend of NOK 1.30 per share.

"I am very pleased with the strong result in Norway and a strong biological performance in our Canadian operations. Challenging market conditions in the Americas remains a concern," said CEO Alf-Helge Aarskog.

Marine Harvest Group reported operational revenue of NOK 5,652 million (NOK 5,241 million) in the first quarter of 2015.

Total harvest volume were 83,409 tonnes in the quarter (74,502 tonnes). Harvest guidance for 2015 is 374,000 tonnes (including discontinued operations 440,000 tonnes).

Salmon of Norwegian origin achieved an operational EBIT per kilo of NOK 12.87 (NOK 12.83) in the first quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of NOK 2.70 and NOK 4.90 respectively (NOK 12.66 and NOK 18.42). The figures include contribution from Sales and Marketing, including MH Consumer Products. MH Consumer Products reported an operational EBIT of NOK -2 million compared to NOK -63 million in the first quarter in 2014. MH Feed reported an operational EBIT of NOK 19 million (NOK -16 million).

"We see a favourable market and supply outlook for Europe. As for Americas we continue to monitor the development closely," said Mr Aarskog.

TheMeatSite News Desk

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