Low temperatures hit Iceland salmon

ARNARLAX, SalMar’s Iceland operation, is expected to harvest 8,000 tonnes in 2018. It harvested around 2,600 tonnes in the first quarter 2018, compared with 2,000 tonnes in the same period last year.

Gross operating revenues in the quarter came to NOK 139.8 million, compared with NOK 146.2 million in the corresponding period in 2017.

The company experienced an unusually high mortality rate caused by the handling of fish when sea temperatures in Iceland were extremely low. Further handling mortality occurred in connection with the relocation of fish after one of the company’s net pens was damaged in a storm.

The mortality has been recognised as an expense in the quarter. Operational EBIT for the period came to NOK -40.2 million, which corresponds to an EBIT per kg of NOK -15.65 in the previous quarter. Arnarlax achieved an operational EBIT of NOK 4.3 million, corresponding to an EBIT per kg of NOK 1.35.