Ireland was Marine Harvest’s most profitable production region in Q3

Marine Harvest prrocessed 110.000 tonnes of salmon in the third quarter of 2018.

The fish farming giant presents the following Q3 harvest volumes monday morning:

  • Farming Norway      71.5 thousand tonnes
  • Farming Scotland     9.0 thousand tonnes
  • Farming Canada      12.5 thousand tonnes
  • Farming Chile       13.5 thousand tonnes
  • Farming Ireland      2.0 thousand tonnes
  • Farming Faroes       1.5 thousand tonnes
  • Total              110.0 thousand tonnes

In connection with the presentation of the Q2 2018 results, Marine Harvest guided a total harvest volume of 108 thousand tonnes (gutted weight equivalents). The figures include salmonid species only, according to a press release from the company.

Operational EBIT for the Group was approximately EUR 204 million in Q3 2018 (EUR 194 million in Q3 2017).  Total operational EBIT per kg through the value chain was approximately as follows:

  • Norway     EUR     2.25
  • Scotland   EUR     1.35
  • Canada     EUR     1.05
  • Chile      EUR     1.25
  • Ireland    EUR     3.45
  • Faroes     EUR     2.80

Northern Harvest is consolidated in the group’s financial statements with effect from 3 July. Thus, the above figures for Canada include Northern Harvest.

Reported net interest bearing debt (NIBD) was approximately EUR 1 220 million at the end of the quarter.

The complete Q3 2018 report will be released on 31 October.


Related Articles