Bergen, Norway-headquartered Marine Harvest, the world’s largest producer of farm-raised fish, on April 30 reported operational revenues and other income of NOK 5,868 million in the first quarter of 2014. The figure is up dramatically in comparison with turnover of NOK 3,736 million generated during the same period the year before.
Commenting on the strong quarterly results, CEO Alf-Helge Aarskog stated: “We see both record high prices and profit. As a consequence of the good results, the board has proposed a quarterly dividend of NOK 5 per share. The results are negatively impacted by high contract share in the quarter. Further, we still see a potential for even stronger results by improving the production costs in many areas of our operation.”
Salmon of Norwegian origin achieved an operational EBIT per kilo of NOK 12.82 in the first quarter, while salmon of Scottish and Canadian origin respectively logged operational EBIT per kilo of NOK 12.66 and NOK 19.10. Salmon of Chilean origin achieved an operational EBIT per kilo of NOK 6.73.
The figures include contributions from sales and marketing units, including VAP Europe and Morpol Processing. Brugge, Belgium-headquartered Marine Harvest VAP Europe reported an operational EBIT of NOK -25 million compared to NOK -18 million in the first quarter of 2013. Ustka, Poland-based Morpol Processing reported an operational EBIT of NOK -38 million.
The Marine Harvest Group harvested 92,243 tons of gutted fish weight in the first quarter, compared to 80,035 tons in the corresponding quarter of 2013. Harvest guidance for 2014 has been increased from 405,000 to 417,000 tons.
“Demand in the first quarter was very high, and we expect this to continue. We are encouraged by the high future prices, given the relatively high supply growth for the remainder of the year,” said Aarskog. “I’m convinced that the combination of strong operational performance and high financial flexibility put us in a great position for further development.”
