Norwegian salmon farmer SalMar is reporting higher revenues in 2Q compared to the same quarter last year, boosted by continued high salmon prices and good harvesting volumes.
The group’s operating revenues totaled NOK 1.74 billion (USD 281.4 million, EUR 213.5 million), which is NOK 312 million (USD 50.5 million, EUR 38.3 million) more than 2Q 2013. Operational earnings before interest and taxes totaled NOK 447 million (USD 72.3 million, EUR 54.8 million), compared to NOK 316 million (USD 51.1 million, EUR 38.8 million) last year. Harvest volumes totaled 35,100 metric tons (MT), compared to the 22,800 MT harvested in 2Q 2013.
"The bulk of the improvement in earnings can be put down to high volume and a high contract rate,” said SalMar CEO Leif Inge Nordhammer. “Operations are still affected by cost associated to PD and keeping the sea lice at a low level. Although we are in the period where the sea lice situation is demanding, we are seeing signs of improvement in the underlying cost situation."
The report showed SalMar is still having problems with “the biological situation” in its Central Norway and Rauma segments, but demand remains high in all the company’s core markets. The company expects to harvest 73,500 MT of salmon in Norway in 2H 2014.
