Marine Harvest reported a record third-quarter EBIT
The Board proposed a quarterly dividend of NOK 3.40 per share, after the good financial results obtained by the company, according to a press release.
"Driven by high salmon prices on strong demand and improved contributions from our sales contracts, we achieved record high operational results in the third quarter," says CEO Alf-Helge Aarskog. "It is encouraging to see that costs decreased for our farming operations in Norway, Chile and Canada in the quarter. Marine Harvest continues to have the utmost focus on cost reduction throughout the organization."
Furthermore, the company had operational revenues of 868 million euros in the third quarter of 2017, which increased from 850 million euros in Q3 2016. The total harvest volume was 95,338 tons in the quarter, down from 97,215 tons in the similar period of 2016. The company says that due to "biological issues" the harvest guidance for 2017 has been reduced to 369,000 tons.
Salmon of Norwegian origin achieved an operational EBIT per kilo of 2.24 euros (up from 1.98) in the third quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of 2.33 euros and 1.73 euros respectively (up from 0.60 euros and down from 2.63 euros in Q3 2016). Salmon of Chilean origin reported operational EBIT per kilo of 1.30 euros in the quarter (down from 1.43 euros in Q3 2016). MH Feed reported an operational EBIT of 9.4 million euros (down from 12.4 million euros in Q3 2016). MH Consumer Products reported an operational EBIT of 10.4 million euros (2.6 million euros).
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