Marine Harvest scoops record high profit

Marine Harvest, which is the world's largest producer of farmed salmon, reported record profit and volume in Q2 2014 Marine Harvest, which is the world's largest producer of farmed salmon, reported record profit and volume in Q2 2014
Industry Database

Marine Harvest achieved an operational EBIT of NOK1.220m (US$197,591) in the second quarter of 2014 – a record high for the Norwegian seafood company.

The Group reported operational revenues and other income of NOK 6.563m (US$1.063m) in the second quarter of 2014. Total harvest volumes also hit a record high at 114,176 tonnes in the quarter. Harvest guidance for 2014 is 414,000 tonnes.

“The second quarter marked a milestone for Marine Harvest. In June we made the first deliveries of our own feed, produced at our new feed factory at Bjugn, to sites in Norway. The factory will at full capacity serve 60% of the Norwegian production, and is a vital step towards becoming a fully integrated protein producer with complete control from feed to plate,” said Alf-Helge Aarskog, CEO. 

Salmon of Norwegian origin achieved an operation EBIT per kilo of NOK12.16 (US$1.96) in the quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of NOK12.19 (US$1.97) and NOK11.01 (US$1.78). Salmon of Chilean origin achieved an operational EBIT per kilo of NOK5.50 (US$0.89). These figures include contribution from sales and marketing, including VAP Europe and Morpol Processing.

Marine Harvest VAP Europe reported an operational EBIT of NOK-4m (-US$647,700) compared to NOK7m (US$1.133m) in the second quarter of 2013. Morpol Processing reported an operational EBIT of NOK24m (US$3.886m).

As a result of the strong results, the Group says it has set a quarterly dividend of NOK1 (US$0.16) per share.

“I'm confident that Marine Harvest is well positioned to optimise under the short term challenges arising from the Russian sanctions, due to our global presence, sales contract hedging and high degree of financial flexibility,” added Mr Aarskog.

Latest Jobs

Systems Administrator

We are looking for a Systems Administrator to join our award winning B2B media company. Read more

SG/C1/Marlab - Fisheries Advisor (IRC54392)

We are currently seeking applications for a Fisheries Advisor within Marine Scotland Science based i... Read more

Maintenance Manager

Marine Harvest Fish Feed (MHFF) is one of the newest divisions within Marine Harvest. Read more

Production Manager

Marine Harvest Fish Feed (MHFF) is one of the newest divisions within Marine Harvest. Read more

Fisheries Project Officer

The MSC operates the world’s most recognised fisheries certification and eco-labelling program. Read more

Fish Processor

An enthusiastic team player is required by Bibury Trout Farm to work in our fish shop area. Read more

View all jobs