Scots, Canucks lag in Marine Harvest Q4: analysts

Aslak Berge

Norway’s contribution to MHG’s profits still looks formidable ahead of February’s quarterly reporting, a survey of analysts says

Marine Harvest is expected to report an operational net profit of EUR 172 million for the fourth quarter of 2017, judging by estimates Inquiry Financial has compiled for TDN Direkt.

The analysts are expecting an average processed volume for the quarter of 111,000 tonnes, including 60,000 t form Norway. Net profit per kilogram from its Norwegian operation is expected to be EUR 1.54 in the quarter, while EUR 0.61 in per-kg net profit is expected from its Chilean business.

The company’s Scottish operation is expected to earn EUR 1.43/kg, with Canada coming in at EUR 1.35/kg.

A dividend of NOK 2.80 per share is expected for the quarter.

The brokerage anticipates a salmon price of EUR 5.6, rising to EUR 5.7 in 2019, TDN said.

The survey of estimates comprised the following salmon-market watchers: ABG Sundal Collier, Arctic Securities, Danske Bank Markets, DNB Markets, Equita SIM, Exane BNP Paribas, Kepler Cheuvreux, Nordea Markets, Pareto Securities, SEB Equities and Sparebank 1 Markets.

Marine Harvest presents its four-quarter and full-year 2017 results on Feb. 14th, 2018.


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