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Marine Harvest reports record Q3

31 October 2018, at 8:01am

Marine Harvest reports its best ever third quarter results, achieving an operational EBIT of €207 million in Q3 2018, compared to €194 million in the corresponding quarter of 2017.

“This has been a very good quarter for Marine Harvest. We managed to generate a record high operational result for the third quarter as demand for salmon continues to increase the value of our products,” says CEO Alf-Helge Aarskog.

Marine Harvest has high hopes for it's feed division next year, when it's new feed mill is due to be completed in Scotland
Marine Harvest has high hopes for it's feed division next year, when it's new feed mill is due to be completed in Scotland

© Marine Harvest

Marine Harvest Group reported record high Q3 operational revenues of €990 million (€868 million) in the third quarter of 2018. Total harvest volume was 109,896 tonnes in the quarter (95,338). Harvest guidance for 2018 remains unchanged at 380,000 tonnes. Estimated harvest volume for 2019 is 430,000 tonnes.

Salmon of Norwegian origin achieved an operational EBIT per kilo of €2.25 (2.24) in the third quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of €1.36 and €1.05 respectively ( €2.33 and €1.73). Salmon of Chilean origin reported operational EBIT per kilo of €1.28 in the quarter ( € 1.30). MH Feed reported an operational EBIT of €7.3 million ( €9.4 million). MH Consumer Products reported an operational EBIT of €16.0 million (€14.6 million).

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“Marine Harvest Feed produced record high volumes in the third quarter. I am very pleased that the growth continues with the opening of the new feed factory in Scotland in 2019. It is also very encouraging to see the growth and margin achievements in our value-added production in the US and Asia,” adds Aarskog.

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