Cermaq is benefitting from a tighter salmon market and stronger prices, with earnings before interest and taxes (EBIT) pre fair value of NOK 229m (US$37.5m) for the Q2 of 2013.
The company’s fish farming operations, branded Mainstream, were strong in both Norway and Canada, while results in Mainstream Chile remained weak, but are improving, due to high cost caused by sanitary challenges.
Jon Hindar, CEO, Cermaq, said: “While the price trend in the Americas has been positive for salmon, the biological environment in Chile continues to be challenging, in particular relating to sea lice and SRS. The situation is manageable, but Mainstream is following the situation closely, and is working with both the industry and the regulators to improve the current status.”
Mainstream reported total volume sales of 28,600 tonnes in Q2, an increase of 29%, and an EBIT pre fair value per kilogram, gutted weight, of NOK 5.9 (US$0.96).
The company’s fish feed business, EWOS, sold 250,000 tonnes of feed in Q2 2013, a decrease of 4% compared to 2012. Volume in Norway dropped 14% due to lower water temperatures, while volume in Chile rose by 5%. EBIT pre fair value was NOK 150m (US$17.2m).
“Key focus areas going forward are following up of coordinated lice treatment accelerating the development of an effective SRS vaccine and continued exchange of best practices,” Mr Hindar added.
Mainstream expects sales volume for 2013 of 145,000 tonnes, a rise of 21% from 2012, due to growth in Chile.
