EBIT making big leap in third quarter for Marine Harvest

(Oslo, 23 October 2013) The Marine Harvest Group achieved an operational EBIT of NOK 793 million in the third quarter of 2013, compared to NOK 73 million in the corresponding quarter of 2012. Cash flow from operations was NOK 559 million (Q3 2012: 237 million), according to Marine Harvest ASA.

-This is a historical quarter for us. With the acquisition of Morpol being approved, Marine Harvest has taken a significant step in the direction of becoming an integrated marine protein provider. The strong market, combined with solid operational performance enabled good results in the quarter. The strong market outlook encourages us, and Marine Harvest is well positioned to take advantage of it. As a consequence of our good results this quarter we are proposing a dividend of NOK 0.075 per share for the third quarter, says CEO Alf-Helge Aarskog.

Marine Harvest Group reported operational revenues and other income of NOK 4 307 million (NOK 3 647 million) in the third quarter of 2013. Total harvest volumes were 80 921 tonnes in the quarter (93 229 tonnes).

Salmon of Norwegian origin achieved an operational EBIT per kilo of NOK 9.96 (NOK 2.46) in the third quarter, while salmon of Scottish  and Canadian origin reported operational EBIT per kilo of NOK 16.47 and NOK 10.92  respectively (NOK 2.21 and NOK -5.31). Salmon of Chilean origin achieved operational EBIT per kilo of NOK 1.68 (NOK -2.89). The figures include contribution from Sales and Marketing, including VAP Europe. Marine Harvest VAP Europe reported an operational EBIT of NOK -11 million compared to NOK 0 million in the third quarter of 2012. Marine Harvest Group expects to harvest a volume of 340 000 tonnes gutted weight in 2013, of which 99 600 tonnes are expected to be harvested in the fourth quarter.

-I would like to highlight the results of Scotland, says Aarskog. Scotland delivers a record high result, and we congratulate the team with the achievement.

About Marine Harvest Group

Marine Harvest Group is the world's leading seafood company and largest producer of farmed salmon, with presence in 22 countries and a total of 10 400 employees worldwide. The company is headquartered in Bergen, Norway, and is listed on the Oslo Stock Exchange.