SalMar reaps reward of high harvests

The company’s Q4 report, which was published today, reveals substantial variations in biological performances between the different regions – while operations in Central Norway, and the Rauma segment in particular, are affected by biological challenges, profitability in Northern Norway returned to satisfactory levels.

"SalMar delivers yet another profitable quarter. We still face biological challenges associated with PD and salmon lice, with the impact on costs that this entails, but we have the situation under control and are working ceaselessly to improve the company's operations," says CEO, Leif Inge Nordhammer.

Operational EBIT ended at NOK 509 million in the period, NOK 71 million up on the preceding quarter, and NOK 160 million higher than in the same period in 2013.

Gross operating revenues came to NOK 2 billion in the quarter, up from NOK 1.8 billion in the fourth quarter 2013. The increase is due to a higher volume of fish harvested, which ended the period at 41,700 tonnes, compared with 34,100 tonnes in the corresponding period in 2013. The price of salmon averaged NOK 39.09/kg in the quarter, down NOK 2.93/kg from the fourth quarter the year before.

Operational EBIT/kg came to NOK 12.21 in the quarter, up from NOK 10.20/kg in the fourth quarter 2013. In the third quarter 2014 Operational EBIT stood at NOK 12.01/kg. The board considers SalMar's financial position to be very good, and is recommending a dividend of NOK 10 per share.

In 2015 SalMar expects to harvest around 139,000 tonnes in Norway, while Norskott Havbruk (Scottish Seafarms) is expected to harvest 31,000 tonnes.