Marine Harvest achieved operational earnings before interest and taxes (EBIT) of NOK 932 million (EUR 110.9 million; USD 122.2 million) in the first-quarter of 2015, down from NOK 970 million (EUR 115.4 million; USD 127.2 million) in the corresponding quarter of 2014.
The Norway-based salmon farming giant has called the operational EBIT “satisfactory.” As a consequence, the group’s board has decided upon a quarterly dividend of NOK 1.30 (EUR 0.15; USD 0.17) per share.
Marine Harvest saw an improvement in its operational revenue for the quarter, achieving a total of NOK 5.65 billion (EUR 672.4 million; USD 740.7 million), up from NOK 5.24 billion (EUR 623.7 million; USD 687 million) in Q1 2014.
Figures include the contribution from sales and marketing, including MH Consumer Products, which reported an improved operational EBIT of NOK -2 million (EUR -238,060; USD -262,201) compared to NOK -63 million (EUR -7.5 million; USD -8.3 million) in Q1 2014. Similarly, MH Feed reported an operational EBIT of NOK 19 million (EUR 2.3 million; USD 2.5 million), up from NOK -16 million (EUR -1.9 million; USD -2.1 million) in Q1 2014.
During Q1 2015, salmon of Norwegian origin achieved an operational EBIT of NOK 12.87 (EUR 1.53; USD 1.69) per kilogram (kg), up slightly from NOK 12.83 (EUR 1.52; USD 1.68).
Salmon of Scottish and Canadian origin reported operational EBIT of NOK 2.70 (EUR 0.32; USD 0.35) and NOK 4.90 (EUR 0.58; USD 0.64), respectively. Both these figures are down from the NOK 12.66 (EUR 1.51; USD 1.66) and NOK 18.42 (EUR 2.19; USD 2.41) per kg they achieved in Q1 2014.
“I am very pleased with the strong result in Norway and a strong biological performance in our Canadian operations. Challenging market conditions in the Americas remains a concern,” said Alf-Helge Aarskog, CEO of Marine Harvest.
“We see a favorable market and supply outlook for Europe. As for [the] Americas, we continue to monitor the development closely.”
The total volume harvested by the group in the quarter was 83,409 metric tons (MT), up from 74,502 MT in Q1 2014. Its harvest guidance for the full year is 374,000 MT, which does not include Marine Harvest Chile’s projected output due to the contemplated merger with AquaChile.
If the Chilean business unit were included then the group would anticipate a total harvest of 440,000 MT, which is in line with the forecast it delivered with its 2014 results.
