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Marine Harvest Reports Better Than Expected Harvest Volumes

18 April 2016, at 1:00a.m.

NORWAY - Marine Harvest has reported a total harvest volume of 97,000 tonnes for the first quarter of 2016. This is higher than the predicted volume of 93,000 tonnes.

Farming operations in Norway led the harvest volume with 54,000 tonnes. Operations in Chile were next with 15,000 tonnes, followed by Scotland (13,000 tonnes), Canada (12,000 tonnes) and other (3,000 tonnes).

Operational EBIT for the company was approximately €110 million (€/NOK 9.5026) in Q1 2016 (€95 million in Q1 2015, EUR/NOK 8.7143).

Total operational EBIT per kg through the value chain were approximately as follows for the main sources of origin:

Norway - €1.85
Scotland - € 0.65
Canada - €1.95
Chile - €-1.55

Operational EBIT for Farming Norway was positively impacted by €0.03 from the feed segment.

Operational EBIT for Farming Chile was negatively impacted by the algal bloom of approximately €0.60 per kg. Operational EBIT for Farming Scotland was negatively impacted by losses in the Rosyth processing plant of approximately €0.60 per kg.

Reported net interest bearing debt (NIBD) was approximately €960 million (€/NOK 9.4346) at the end of the quarter.

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Like all Mediterranean producers, Nireus has a strong need to market their product as fresh, affordable and high quality fish, with traceability as an important asset. Building a stable future for the company on both technical and business knowledge, Nireus realizes that a healthy economy in aquaculture can only be built on healthy fish.

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