Strong second quarter for Marine Harvest
August 21 2018 - 11:30PM
(Bergen, 22 August 2018) Marine
Harvest achieved an operational EBIT of EUR 175 million in the
second quarter of 2018, compared to EUR 198 million in the
corresponding quarter of 2017.
Supported by the good results, a strong market
outlook, and a solid financial position, the Board has proposed a
quarterly dividend of NOK 2.60 per share.
- The global demand for salmon has been very good
so far this year. This has led to high prices in all markets in the
second quarter. The result has also been impacted by strong
performances by our business units in Norway and Chile, which both
had their best second quarter ever, says CEO Alf-Helge Aarskog.
Marine Harvest Group reported operational revenues
of EUR 888 million (EUR 884 million) in the second quarter of 2018.
Total harvest volume was 78 346 tonnes in the quarter (78 612).
Harvest guidance for 2017 has been reduced from 400 000 to
380 000 tonnes, including Northern Harvest, because of
biological issues in Norway, Scotland and Canada.
Salmon of Norwegian origin achieved an operational
EBIT per kilo of EUR 2.56 (2.50) in the second quarter, while
salmon of Scottish and Canadian origin reported operational EBIT
per kilo of EUR 2.38 and EUR 0.98 respectively (EUR 3.10 and EUR
2.34). Salmon of Chilean origin reported operational EBIT per kilo
of EUR 1.86 in the quarter (EUR 1.46). MH Feed reported an
operational EBIT of EUR 0.7 million (EUR 1.8 million). MH Consumer
Products reported an operational EBIT of EUR 13.1 million (EUR 19
million).
After being given the approval by Canada's
Competition Bureau to buy Northern Harvest in June, Marine Harvest
completed the transaction in July. Marine Harvest has through this
acquisition expanded its global footprint to include Atlantic
Canada. Northern Harvest will be consolidated from the third
quarter.
- This is an important investment for Marine
Harvest and shows that we are committed to growing the industry in
Canada. We believe the prospect for salmon farming in Atlantic
Canada is great. Although this is a new area for us, we are
working in close cooperation with authorities, local communities
and other industry players to realize success, says Aarskog.
For further information, please
contact:
Ivan Vindheim, CFO, Mobile: +47 958
71 310
Kim Galtung
Døsvig, IR Officer & Head of Treasury, Mobile: +47 908
76 339
About Marine Harvest
Group
Marine Harvest Group is the world's
leading seafood company and largest producer of farmed salmon, with
presence in 24 countries and a total of 13 233 employees worldwide.
The company is headquartered in Bergen, Norway, and is listed on
the Oslo Stock Exchange.
Please see www.marineharvest.com for further
information.
Forward looking
statements
This release may be deemed to
include forward-looking statements, such as statements that relate
to Marine Harvest's goals and strategies, salmon prices, ability to
increase or vary harvest volume, production capacity, trends in the
seafood industry, restructuring initiatives, exchange rate and
interest rate fluctuations, expected research and development
expenditures, business prospects and positioning with respect to
market, demographic and pricing trends, strategic initiatives, and
the effects of any extraordinary events and various other matters
(including developments with respect to laws, regulations and
governmental policies regulating the industry and changes in
accounting policies, standards and interpretations) on Marine
Harvest's business and results. Forward-looking statements are
typically identified by words or phrases, such as "believe,"
"expect," "anticipate," "intend," "estimate," "may increase," "may
fluctuate," "plan," "goal," "target," "strategy," and similar
expressions or future or conditional verbs such as "may," "will,"
"should," "would," and "could." Forward-looking statements are
Marine Harvest's current estimates or expectations of future events
or future results. Actual results could differ materially from
those indicated by these statements because the realization of
those results is subject to many risks and uncertainties. Marine
Harvest ASA's Annual Report contains additional information about
factors that could affect actual results, including: changes to the
price of salmon including the value of our biological assets;
hedging risks; risks related to fish feed; economic and market
risks; environmental risks; operational risks; risks related to
escapes, disease and sea lice; product risks; risks related to our
acquisitions; financing risks; regulation risks including relating
to food safety, the aquaculture industry, processing, competition
and anti-corruption; trade restriction risks; litigation risks; tax
and accounting risks; strategic and competitive risks; and
reputation risks. All forward-looking statements included in this
release are based on information available at the time of the
release, and Marine Harvest assumes no obligation to update any
forward-looking statement.
This information is subject to the disclosure
requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act.
MHG Q2 2018 Presentation
MHG Q2 2018 Report
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Marine Harvest ASA via Globenewswire
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