Record high operational EBIT for Marine Harvest
February 14 2017 - 11:30PM
(Oslo, 15 February 2017) Marine
Harvest achieved an operational EBIT of EUR 259 million in the
fourth quarter of 2016, compared to EUR 90 million in the
corresponding quarter of 2015.
Supported by the good results, a strong forward
market, and a solid financial position, the Board has resolved a
quarterly dividend of NOK 2.80 per share.
- Driven by high salmon prices on strong demand
and reduced supply, we achieved record high operational results in
the fourth quarter. It is very encouraging to see strong
operational performance in all our entities, says CEO Alf-Helge
Aarskog.
Marine Harvest also achieved an all-time high
operational EBIT for the full year of EUR 700 million, compared to
EUR 347 million in 2015.
- 2016 was a great year for Marine Harvest, with
both record earnings and cash flow generation. I am very proud of
the work all our colleagues have put in to achieve these results,
Aarskog adds.
Marine Harvest Group reported operational revenues
of EUR 1,018 million (EUR 867 million) in the fourth quarter of
2016. Total harvest volume was 99 634 tonnes in the quarter
(110 551 tonnes). Harvest guidance for 2017 is 403 000 tonnes,
which is in line with the previous guidance.
Salmon of Norwegian origin achieved an operational
EBIT per kilo of EUR 2.70 (1.47) in the fourth quarter, while
salmon of Scottish and Canadian origin reported operational EBIT
per kilo of EUR 1.83 and EUR 3.33 respectively (EUR
-0.30 and EUR 0.36). Salmon of Chilean origin reported operational
EBIT per kilo of EUR 2.61 in the quarter (EUR -1.31). MH Consumer
Products reported an operational EBIT of EUR 22.9 million (EUR 9.8
million). MH Feed reported an operational EBIT of EUR 10.8
million (EUR 8.0 million).
- We continue to strengthen the efforts in North
America, with the new Dallas plant opening at the end of the fourth
quarter and a new value-added facility opening in British Columbia
in the end of the second quarter of 2017. Marine Harvest is also
nominated to purchase farming assets on the East Coast of Canada,
which in the future can further strengthen our supply to the North
American market, 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 12 400 employees worldwide.
The company is headquartered in Bergen, Norway, and is listed on
the Oslo Stock Exchange and New York Stock Exchange
(NYSE).
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 registration statement on Form 20-F filed in 2015,
including the section captioned "Risk Factors," contain 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 Q4 2016 Presentation
MHG Q4 2016 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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