Nord­laks re­ports pre-tax prof­its of £110 mil­lion

Fish Farmer - - European News -

THE Nord­laks group, which was badly hit by the al­gae out­break, an­nounced pre-tax prof­its of 1.2 bil­lion kro­ner, or around £110 mil­lion, on a turnover of NOK 3 bil­lion (£278 mil­lion) for last year.

CEO Eirik Welde de­scribed the per­for­mance as a ‘very good fi­nan­cial re­sult’.

He said: ‘We had some­what lower sales rev­enues and higher op­er­at­ing costs, but thanks to well­boat sales and lower fi­nan­cial costs, mainly due to the (lower) cur­rency, the an­nual re­sult was nev­er­the­less higher than in 2017.

‘We see that both Nord­laks and the rest of the aqua­cul­ture in­dus­try year-on-year re­duced pro­duc­tiv­ity and in­creased costs, but due to the con­stantly high de­mand for our prod­ucts, we still man­aged to cre­ate a good re­sult.’

Welde said Nord­laks planned to in­vest be­tween four and five bil­lion kro­ner in the de­vel­op­ment of new tech­nol­ogy and ad­vanced pro­duc­tion meth­ods.

‘This year we will make a de­ci­sion on the ex­pan­sion of our fac­tory on Børøya, while the smolt plant at Innhavet will be com­pleted. And by 2020, the first of two Hav­farmer and the first of two well­boats will be de­liv­ered to us.’

The 2018 re­sults, he said, would strengthen the equity of the com­pany and were ab­so­lutely cru­cial in its plans for the sus­tain­able de­vel­op­ment of the aqua­cul­ture in­dus­try.

Above: Eirik Welde

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