Salmar announces outstanding Q3
SALMAR, one of the world’s largest salmon farming companies, announced outstanding results for the third quarter of this year, with operating profits (EBIT) up by more than 200 million kroners to NOK 801.3 million. The figure for Q3 2016 was NOK 576.3 million.
The company has put the performance down to an improved biological situation and good operations in all of the group’s segments, including Scottish Sea Farms in which it has part ownership, and reduced costs.
CEO Trond Willikson said: ‘Good operations in all segments and a biology in recovery has helped SalMar deliver a strong financial result again, despite the decline in salmon prices throughout the quarter.
‘Especially positive is that the positive cost development in recent quarters continued in the third quarter, and our extensive efforts and significant investments in handling salmon lice over time now begin to show results.’
Total operating income was NOK 2.7 billion in the quarter, up from NOK 2.3 billion in the corresponding period last year.
The slaughter volume was 34,000 tonnes, compared to 29,600 tonnes in the third quarter last year. This resulted in an operating profit of NOK 23.60 per kilo. Operating profit per kilo in the second quarter of 2017 was NOK 28.12 per kilo.
SalMar experienced some increased lice pressure in the third quarter, but said it is well equipped to meet any biological challenges.
For the whole of 2017, SalMar plans to slaughter around 134,000 tonnes in Norway, 32,000 tonnes in Scotland, and 9,500 tonnes in Arnalax in Iceland.
For the whole of 2018, SalMar expects to slaughter around 143,000 tonnes in Norway, 27,000 tonnes in Scotland and 11,000 tonnes in Iceland.
Above: SalMar’s newest project, Ocean Farm 1