SalMar 1Q shows boost in salmon market

Larger harvest volumes coupled with higher salmon prices have led to a big boost for SalMar’s gross  earnings for the first quarter 2013, up significantly compared to the same period in 2012.

Gross operating revenues this year add up to nearly NOK 1.3 billion (USD 221.4 million, EUR 171.1 million), which is a 58 percent increase over the same quarter in 2012. Operational earnings before interest and taxes were also up, from NOK 41 million (USD 7 million, EUR 5.4 million) in 2012 to NOK 235 million (USD 40 million, EUR 31 million).

Salmon price hikes are part of the reason for the increase, the company said in its report, but SalMar also recorded a 34 percent increase in harvest volumes, a total of 23,200 metric tons in 2013.

"We are pleased with the performance of all our fish farming segments, and are particularly delighted to see that the Rauma segment is back delivering strong margins," said SalMar CEO Yngve Myhre.

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