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Aquaculture

 

September 4, 2017

 

Norway's SalMar reports higher EBIT in Q2 partly due to high salmon prices
 

 

Helped by high salmon prices, Norwegian salmon farmer SalMar achieved a strong result in the second quarter as its operational EBIT (earnings before interest and taxes) totalled NOK983 million (US$126 million), up from NOK670.7 million in the previous quarter and from NOK731.8 million in the same quarter last year.

 

Overall, the SalMar Group achieved an operating profit per kilogramme gutted fish of NOK28.12 ($3.60), up 10% on the previous quarter and a hike of 24% compared with the second quarter last year.

 

"SalMar's strong results derives from continued good operations and yet another quarter with high salmon prices. The biological situation was slightly better than in the same period last year, but managing the sea lice issue remains challenging", SalMar's CEO Trond Williksen said.

 

He said that SalMar had implemented several initiatives to improve the situation, in combination with a continued increasing focus on fish welfare. "Measures to manage the lice situation are costly, and a high treatment frequency rate will negatively affect production costs in coming quarters". 

 

The company said it generated gross operating revenues of NOK2.9 billion ($371.83 million) in the second quarter, up from NOK 2.3 billion in the same period last year.

 

The Group harvested 35,000 tonnes of salmon, compared with 32,200 tonnes in the second quarter last year and 26,300 tonnes in the first quarter this year.

 

For 2017, SalMar plans to harvest around 131,000 tonnes in Norway, with 83 000 tonnes being harvested in Central Norway and 48,000 tonnes in Northern Norway. Norskott Havbruk (Scottish Seafarms) and Arnarlax are expected to harvest 30,000 tonnes and 10,000 tonnes, respectively.

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