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Marine Harvest Q4 Harvest Volumes In-Line with Expectations

Salmonids Economics +2 more

NORWAY - Marine Harvest has reported a total harvest volume of 105,000 tonnes for the fourth quarter of 2014.

Lucy Towers thumbnail

In its Q3 2014 results, Marine Harvest predicted a total harvest volume of 100,000 tonnes (HOG) for Q4 2014.

Operations in Norway led the way with 70,000 tonnes. This was followed by Chile (17,000 tonnes), Canada (7,000 tonnes), Scotland (6,000 tonnes) and other (5,000 tonnes).

Operational EBIT for the Group was approximately NOK 990 million in Q4 2014 (NOK 1,034 million in Q4 2013).

Reported net interest bearing debt (NIBD) was approximately NOK 9,300 million at the end of the quarter. Weakening of the NOK relative to the main borrowing currencies (EUR, USD and GBP), caused a short fall of NOK 850 million in the quarter.

Net interest bearing debt was also impacted by the Acuinova acquisition, with approximately $102 million of the agreed transaction value of $125 million paid in the quarter.