Despite higher prices for farmed salmon, pancreas disease (PD) affected SalMar’s second quarter financial results.
The Norwegian salmon producer’s EBIT decreased 46.53 percent to NOK 59.9 million compared to the same time period last year.
The company's salmon supply increased 29 percent in the quarter, compared to the same time period in 2011. However, SalMar said the increase was absorbed at higher prices than in the first quarter of 2012.
But the higher prices couldn’t balance out increased costs for SalMar Central Norway’s aquaculture operations, which were hit by PD-related harvesting issues. In addition to having to destroy fish stocks, the company harvested half the volume in June, when salmon prices were lower than in April and May.
SalMar Northern Norway increased both its volumes and margins compared with the first quarter of 2012. The segment also saw quality problems, affecting the achieved price. The Rauma segment also increased its margins compared with the first quarter. Results in the quarter were affected by the destruction of broodstock due to the presence of infectious salmon anemia.
SalMar harvest 23,390 metric tons gutted weight during the quarter, with Central Norway accounting for 12.825 metric tons, Northern Norway for 4,023 metric tons and Rauma for 3,430 metric tons. The company expects to harvest about 120,500 metric tons gutted weight in 2012, an increase of 16 percent compared to 2011.
