Strong sales growth continues for Morpol
Morpol's consolidated operating revenue in the third quarter of 2013 totaled EUR 140.4 million (USD 193 million), up EUR 32.9 million (USD 45.2 million) compared to the same quarter last year.
Operating EBIT for the quarter reached EUR 10.4 million (USD 14.3 million), EUR 5.8 million (USD 8 million) higher compared the same period in 2012 and EUR 12.4 million (USD 17 million) higher from the second quarter of this year.
Operating revenue for the company’s processing division was EUR 116 million (USD 159.5 million), up from EUR 91.2 million (USD 125.4 million) in the prior year. The company credits the increase to higher unit sales prices to customers. Volume (excluding contract processing) was up strongly in comparison to Q3 2012.
Operating EBIT for processing in 3Q 2013 was EUR 2.1 million (USD 2.9 million), down from EUR 5.7 million (USD 7.8 million) in the previous year, due to significantly higher raw material prices.
Operating revenue for Morpol’s salmon farming arm in 3Q this year was EUR 44.4 million (USD 61 million), up from EUR 28.6 million (USD 39.3 million) during the same quarter last year. However, volumes sold dropped by 23 percent in comparison to the same period in2012.
Salmon farming operating EBIT in 3Q 2013 was EUR 8.7 million (USD 12 million), up from EUR 500,000 (USD 687,000) during the same period last year.