Ewos 318.203
Norwegian fishmeal company Ewos reported higher sales prices, but that couldn't make up for a drop in sales volumes in Norway based on water temperatures, according to a recent financial statement.

A drop in sales volume of 14 percent in Norway contributed to an overall decline in 2013 of 6 percent compared to 2012. The company blamed the drop in Norway on "lower water temperatures and an unforeseen drop in volumes from one leading customer."

Despite the decline, the company showed an overall growth in sales revenue, from a recorded NOK 10.3 billion (USD 1.7 billion, EUR 1.2 billion) in 2012 to an estimated NOK 10.8 billion (USD 1.8 billion, EUR 1.3 billion) in 2013, an overall increase of about five percent. The company said in a statement that the increase was largely due to "increased sales prices, resulting from the pass-through of higher raw material prices."

Those same reasons, according to Ewos, caused an increase of five percent operating revenue to an estimated NOK 10.8 billion in 2013. The company said the same reasons for the decline in sales volume, however, were to blame for a drop in earnings before interest, taxes, dividends and acquisitions, which are estimated at NOK 647 million (USD 108.7 million, EUR 78.4 million), a 26 percent decline over last year.


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Mary Fowler


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