Marine Har­vest records best ever Q3

Fish Farmer - - European News -

MARINE Har­vest has an­nounced its ‘best ever’ third quar­ter re­sults, with an EBIT of 207 mil­lion eu­ros, up from € 194 mil­lion in the cor­re­spond­ing quar­ter last year. Rev­enues soared to just short of a bil­lion eu­ros at € 990 mil­lion (€868 mil­lion in 2017).

To­tal har­vest vol­ume was 109,896 tonnes in the quar­ter (95,338 in 2017). Har­vest guid­ance for 2018 re­mains un­changed at 380,000 tonnes. Es­ti­mated har­vest vol­ume for 2019 is 430,000 tonnes.

How­ever, in Scot­land har­vest vol­umes de­clined by 20 per cent com­pared to last year, down from 10,912 tonnes to 9,024 tonnes, and bi­o­log­i­cal costs in­creased by 20 per cent.

In­ci­dent based mor­tal­ity losses amounted to € 1.2 mil­lion (€2.1 mil­lion in 2017), mainly due to gill is­sues and mor­tal­ity at the Inch­more hatch­ery, said Marine Har­vest in its Q3 re- port. Sea lice lev­els at the end of the quar­ter were lower than at the end of the com­pa­ra­ble quar­ter of 2017.

In Nor­way, lice is still a chal­lenge for the farm­ing op­er­a­tions, par­tic­u­larly in com­bi­na­tion with fish be­ing weak­ened by other bi­o­log­i­cal chal­lenges.

Sea lice lev­els at the end of the third quar­ter of 2018 were higher than in the com­pa­ra­ble quar­ter for both Re­gion Mid and Re­gion North.

Although sea lice mit­i­ga­tion costs are still high, health costs are lower than in the com­pa­ra­ble quar­ter.

Salmon of Nor­we­gian ori­gin achieved an op­er­a­tional EBIT per kilo of € 2.25 (€2.24 in 2017), while salmon of Scot­tish and Cana­dian ori­gin re­ported € 1.36 and € 1.05 re­spec­tively (€2.33 and € 1.73). Salmon of Chilean ori­gin re­ported € 1.28 (€1.30).

MH Feed re­ported an op­er­a­tional EBIT of

€ 7.3 mil­lion (€9.4 mil­lion) and the com­pany saw an all-time high pro­duc­tion vol­ume for feed at 97,564 tonnes.

MH Con­sumer Prod­ucts re­ported an op­er­a­tional EBIT of

16.0 mil­lion (€14.6 mil­lion).

CEO Alf-Helge Aarskog said: ‘This has been a very good quar­ter... Marine Har­vest Feed pro­duced record high vol­umes in the third quar­ter. I am very pleased that the growth con­tin­ues with the open­ing of the new feed fac­tory in Scot­land in 2019.

‘It is also very en­cour­ag­ing to see the growth and mar­gin achieve­ments in our value added pro­duc­tion in the US and Asia.’

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