Marine Harvest Chile obtained positive results in Q3
Operating revenues were NOK 638 million in the third quarter of 2010 (NOK 611 million). The revenues were mainly related to the sale of Norwegian salmon through the Miami office and from third party sourced fish in Chile. Further processing of Norwegian salmon in the Miami and Los Angeles plants are included in the results of the business unit.
According to the company, in the third quarter of 2010, Marine Harvest Chile sold 740 tonnes gutted weight (7,689 tonnes) of its own Chilean produced salmon.
Operational EBIT amounted to NOK 17 million in the third quarter (NOK 59 million). NOK 9 million of the operational EBIT was generated in the sales and processing units in the US. Operational EBIT for the farming activity in Chile in third quarter was positively affected by compensations received related to insurance and trading of third party fish. The level of production is still low for the current size of the organization, and the operational EBIT from farming remains negative but limited in absolute value terms.
Higher prices contributed positively to the third quarter result, and as Marine Harvest Chile achieved a negative contribution per kilo last year, the volume effect becomes positive when comparing the result with the same quarter last year.
The contribution from sales and processing activities in Chile and the US was lower than the same quarter last year.
The growth in seawater has been very good, and Marine Harvest Chile expect to sell 5,000 tonnes gutted weight from own production in the fourth quarter of 2010.
Marine Harvest will harvest 322,000 tonnes gutted weight in 2011, up from 292,000 in 2010. Of this increase, 15,000 tonnes will come from Norway and 10,000 tonnes in Chile. In the fourth quarter of 2010 Marine Harvest will harvest 87,000 tonnes, in line with previous guiding.
