Mainstream Canada has just announced its results for the third quarter of 2009, and it is a generally uplifting story. Earnings per kilo farmed Atlantic salmon produced during the first 9 months of the year stood at NOK 8.90 (~€ 1.06) per kilo before interest and taxes (EBIT). For the total production in this period of some 17,200 tonnes in BC, this represents a pre-tax and interest profit of some NOK 154 million (~€ 18.4 million). Volumes harvested (dressed-head-on) were 6,000, 4,000 and 7,000 tonnes in the first three quarters of 2009 respectively, with another 5,000 tonnes to be harvested in the last quarter for a year total of 22,000 tonnes.Earnings are expected to drop somewhat in the last quarter of 2009 for Mainstream Canada, partly due to the expected reduction in harvest volume, but also due to the continuing strengthening of the Canadian dollar vs. the US greenback. The selling price for 10/12 lbs (~4.5/5.4Kg) dressed product into the US market stood at some CAD$ 8.00 (~€ 5.06, NOK 42.4) per kilo in August this year. For 2010, harvest volumes for Mainstream are expected to be 2,000, 4,000, 7,000 and 8,000 tonnes per quarter, with a total output of some 21,000 tonnes.Compared with the production volume of the other main producers of Atlantic salmon in BC, Mainstream remains a strong second behind Marine Harvest, which expects to produce between 38,000 and 40,000 tonnes this year, and ahead of Grieg Seafood with an estimated production of some 11,000 tonnes. Marine Harvest reported a global EBIT per kilo produced during the third quarter of 2009 at NOK 6.30 (~€ 0.75).
