Higher prices boosted results of Havfisk in the last quarter of 2014. (Photo: Havfisk / FIS)(Photo Credit: Havfisk/FIS)
NORWAYFriday, February 13, 2015, 03:40 (GMT + 9)
The leading Norwegian white fish company, Havfisk, obtained very good results in the fourth quarter of 2014, showing the continuity of an overall positive trend.
"We are satisfied with the operations in the fourth quarter. Income per operating day is the highest in the company's history and EBITDA is also record-high," said CEO Webjørn Barstad.
Better prices achieved for cod, saithe and haddock increased its operating income to NOK 314 million (USD 41.3 million) in the fourth quarter of 2014, a figure which represents an increase of NOK 54 million (USD 7.1 million ) compared to the same period in 2013.
The prices obtained for cod, haddock and saithe were up 43 per cent, 3 per cent and 33 per cent yoy respectively during the quarter.
In addition, the company increased the capture volume of other species such as black halibut and redfish, compared to fourth quarter in 2013.
The firm's harvest value per operating day went up by 30 per cent vs. Q42013, achieving record harvest value per day in the quarter ended in December.
However, the total harvest volume in the last three months fell by 19 per cent compared with the same period in 2013, to 14,168 tonnes. The company explained this is due to a substantial volume being awarded in the fourth quarter of 2013 in the form of a redistribution of cod from other vessel groups.
EBITDA totalled NOK 98 million (USD 13,9 million), which means an increase of NOK 5 million (USD 0,6 million) compared with the corresponding period in 2013, the highest in the company's history.
Havfisk delivered 3,603 tonnes of fresh cod in Q4, out of a total volume of 10,486 tonnes.
The group holds 29.6 cod trawler licences and had 10 vessels in operation during the quarter.
The company managed to fish its entire cod and haddock quota, except for a very small remaining haddock quota of one of its ships.
In 2014, it caught almost the entire saithe quota north of 62 degrees.