Farmed salmon. (Photo Credit: Marine Harvest)
Giant salmon farmer Marine Harvest reported operational earnings before interest and taxes (EBIT) of approximately NOK 870 million (USD 133.9 million) for Q3 2014, an increase of 9.7 per cent compared with NOK 793 million (USD 122 million) in Q3 2013.
Total operational EBIT per kg through the value chain was approximately as follows for the main sources of origin:
Norway NOK 9.6 (USD 1.48)
Scotland NOK 9.8 (USD 1.51)
Canada NOK 4.6 (USD 0.71)
Chile NOK 6.0 (USD 0.92)
The company highlighted that exceptional mortality in the quarter impacted operational EBIT adversely by about NOK 60 million (USD 9.25 million) in the analysed quarter.
MH Feed generated an operational EBIT of about NOK 20 million (USD 3.01 million) at a production volume of about 56,000 tonnes in the analysed quarter. As the feed production is applied for internal purposes only, accounting practices prevent a realisation of the segment profits in the Group accounts prior to harvesting of the fish having consumed the feed.
Reported net interest bearing debt (NIBD) was approximately NOK 7,230 million (USD 1,126 million) by the end of the quarter.
Marine Harvest also informed that it harvested a total of 107,000 tonnes of salmonides (in head on gutted [HOG] equivalents) during the third quarter of this year, in line with the total harvest volume of 106,000 tonnes predicted in the presentation of the Q2 2014 results.
The Q3 harvest included:
Farming Norway: 64,000 tonnes;
Farming Scotland: 14,000 tonnes;
Farming Canada: 7,000 tonnes;
Farming Chile: 17,000 tonnes;
Other: 5,000 tonnes.
The Group will publish the full Q3 2014 report on 22 October.
Total operational EBIT per kg through the value chain was approximately as follows for the main sources of origin:
Norway NOK 9.6 (USD 1.48)
Scotland NOK 9.8 (USD 1.51)
Canada NOK 4.6 (USD 0.71)
Chile NOK 6.0 (USD 0.92)
The company highlighted that exceptional mortality in the quarter impacted operational EBIT adversely by about NOK 60 million (USD 9.25 million) in the analysed quarter.
MH Feed generated an operational EBIT of about NOK 20 million (USD 3.01 million) at a production volume of about 56,000 tonnes in the analysed quarter. As the feed production is applied for internal purposes only, accounting practices prevent a realisation of the segment profits in the Group accounts prior to harvesting of the fish having consumed the feed.
Reported net interest bearing debt (NIBD) was approximately NOK 7,230 million (USD 1,126 million) by the end of the quarter.
Marine Harvest also informed that it harvested a total of 107,000 tonnes of salmonides (in head on gutted [HOG] equivalents) during the third quarter of this year, in line with the total harvest volume of 106,000 tonnes predicted in the presentation of the Q2 2014 results.
The Q3 harvest included:
Farming Norway: 64,000 tonnes;
Farming Scotland: 14,000 tonnes;
Farming Canada: 7,000 tonnes;
Farming Chile: 17,000 tonnes;
Other: 5,000 tonnes.
The Group will publish the full Q3 2014 report on 22 October.