Best third quarter ever for Marine Harvest
October 31 2018 - 1:30AM
(Oslo, 31 October 2018) Marine
Harvest achieved an operational EBIT of EUR 207 million in the
third quarter of 2018, compared to EUR 194 million in the
corresponding quarter of 2017.
The Marine Harvest Board has resolved a quarterly
dividend of NOK 2.60 per share, supported by the good results, a
strong market outlook, and a solid financial position.
- This has been a very good quarter for Marine
Harvest. We managed to generate a record high operational result
for the third quarter as demand for salmon continues to increase
the value of our products, says CEO Alf-Helge Aarskog.
Marine Harvest Group reported record high Q3
operational revenues of EUR 990 million (EUR 868 million) in the
third quarter of 2018. Total harvest volume was 109 896 tonnes in
the quarter (95 338). Harvest guidance for 2018 remains unchanged
at 380 000 tonnes. Estimated harvest volume for 2019 is 430 000
tonnes.
Salmon of Norwegian origin achieved an operational
EBIT per kilo of EUR 2.25 (2.24) in the third quarter, while salmon
of Scottish and Canadian origin reported operational EBIT per kilo
of EUR 1.36 and EUR 1.05 respectively (EUR 2.33 and EUR 1.73).
Salmon of Chilean origin reported operational EBIT per kilo of EUR
1.28 in the quarter (EUR 1.30). MH Feed reported an operational
EBIT of EUR 7.3 million (EUR 9.4 million). MH Consumer Products
reported an operational EBIT of EUR 16.0 million (EUR 14.6
million).
- Marine Harvest Feed produced record high volumes
in the third quarter. I am very pleased that the growth continues
with the opening of the new feed factory in Scotland in 2019. It is
also very encouraging to see the growth and margin achievements in
our value-added production in the US and Asia, 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 13 650 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 Q3 2018 Presentation
MHG Q3 2018 Report
This
announcement is distributed by West Corporation on behalf of West
Corporation 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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