October 24, 2013

Marine Harvest Group's operational earnings before interest and taxes (EBIT) in the third quarter of this year reached NOK793 million (US$134 million), versus NOK73 million (US$12 million) in the corresponding quarter of 2012.

The Group's cash flow from operations was NOK559 million (US$94.5 million) compared to NOK237 million (US$40 million) of the same quarter of 2012.

"This is a historical quarter for us. With the acquisition of Morpol being approved, Marine Harvest has taken a significant step in the direction of becoming an integrated marine protein provider. The strong market, combined with solid operational performance enabled good results in the quarter. The strong market outlook encourages us, and Marine Harvest is well positioned to take advantage of it. As a consequence of our good results this quarter we are proposing a dividend of NOK0.075/share (US$0.01) for the third quarter," says CEO Alf-Helge Aarskog.

Marine Harvest Group reported operational revenues and other income of NOK4,307 million (US$728 million) in the third quarter of 2013 against NOK3,647 million (US$616 million) in third quarter 2012. Total harvest volumes were 80,921 tonnes in the quarter versus 93,229 tonnes during the same period of last year.

In the third quarter, salmon of Norwegian origin achieved an operational EBIT per kilogramme of NOK9.96 (US$1.70)against NOK2.46 (US$0.42) of third quarter 2012 , while salmon of Scottish and Canadian origin reported operational EBIT per kilogramme of NOK16.47 and NOK10.92 (US$2.78 and US$1.85), respectively, from NOK2.21 and NOK-5.31 (US$0.37 and US$-0.90). Salmon of Chilean origin achieved operational EBIT per kilogramme of NOK1.68 (US$0.28) from NOK-2.89 (US$-0.50). The figures include contribution from sales and marketing, including VAP Europe. Marine Harvest VAP Europe reported an operational EBIT of NOK-11 million (US$-1.9 million) compared to NOK0 million in the third quarter of 2012. Marine Harvest Group expects to harvest a volume of 340,000 tonnes gutted weight in 2013, of which 99,600 tonnes are expected to be harvested in the fourth quarter.