Chile still in red for Marine Harvest


SeafoodSource staff

Published on
April 11, 2013

Marine Harvest has released preliminary volume and earnings numbers for 1Q 2013, and earnings from the company’s operations in Chile, while an improvement over 4Q 2012, remain in the negative.

The total earnings before interest and taxes (EBIT) per kilogram in the value chain for Chile in the first quarter this year is listed as NOK -5.9 (USD -1.03, EUR -0.79), compared to NOK -8.43 (USD -1.47, EUR -1.13) in the fourth quarter last year.

“The results from Chile were impacted by a low price level and high biological costs,” the company said in its statement. “The result in Chile further underlines the requirement for consolidation in the Chilean industry.”

But the news wasn’t all bad. For the whole company, operational EBIT was approximately NOK 480 million (USD 83.8 million, EUR 64.1 million), up significantly from the NOK 276 million (USD 48.2 million, EUR 36.9 million) recorded in 1Q 2012.

The company released early figures on volume as well. Between Norway, Chile, Canada, Scotland, and “other” sources, the total volume was 80,000 metric tons (MT), with head-on gutted volumes about 75,000 MT.

The company is expected to release its full 1Q 2013 report on 30 April.

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