August 31, 2017

Marine Harvest of Norway achieves record gains in Q2

Norwegian seafood giant Marine Harvest achieved an operational EBIT (earnings before interest and taxes) of EUR198 million (US$234.3 million) in the second quarter, compared with EUR149 million ($176.3 million) in the same quarter last year.

Supported by the good results, a strong market outlook and a solid financial position, the board has proposed a quarterly dividend of NOK3.20 (41 US cents) per share.

"Driven by high salmon prices on strong demand, we achieved record high operational results in the second quarter. I am pleased to see strong operational performance and reduced cost in Marine Harvest Scotland and Marine Harvest Ireland. It is also encouraging to see that production costs decreased for Marine Harvest Chile", said CEO Alf-Helge Aarskog.

Marine Harvest Group reported operational revenues of EUR 884 million (as against EUR 832 million last year) in the second quarter. Total harvest volume was 78,612 tonnes in the quarter (as against87,159 last year). Harvest guidance for 2017 has been reduced from 403,000 to 377,000 tonnes as a result of biological issues in Norway.

"I am pleased that operational improvements in Marine Harvest Consumer Products have resulted in yet another good quarter. Several of our processing plants are now performing better than at the same time last year", said Aarskog.