Record quarter for Cermaq

Cermaq ASA on Wednesday released its results for the fourth quarter of 2010, the best in company history.

The Norwegian farmed salmon producer posted fourth-quarter EBIT of NOK 601 million, compared to only NOK 218 million during the same period in 2009.

The company’s fish-feed subsidiary, EWOS, reported EBIT of NOK 210 million, a fourth-quarter record for the company. EWOS achieved growth of 7 percent from 2009, primarily due to increased volumes in Chile and strengthening demand.

The company’s salmon-farming subsidiary, Mainstream, continued to improve and posted EBIT of NOK 392 million in the fourth quarter. The positive result was driven mainly by increased salmon prices in all regions combined with higher volumes and improved biological performance in Chile.

“I am proud of the results from both Mainstream and EWOS. Building on the current strong market, both business units demonstrate improvements in volumes, cost and working capital,” said Cermaq CEO Geir Isaksen. “Cermaq is well positioned to meet the future growth in the salmon market. The improvements we have demonstrated in Chile and our completed and planned investments in farming, particularly in Chile and Norway, will ... contribute to an increase in our farming volumes of 8 percent in 2011.”

Subscribe

Want seafood news sent to your inbox?

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500
None