Marine Harvest said its third-quarter performance was "strong" in the face of "challenging" conditions.

Operational EBIT for the seafood group was approximately NOK870m (US$132.5m) in the three-month period, up from NOK793m in the comparable year-ago period. "Exceptional mortality" hit earnings by around NKO60m, the company added in a trading update today (14 October).

The company reported total sales volumes came to 107,000 tonnes in the period, compared to guidance of 106,000.

Marine Harvest is due to report its full third-quarter results on 22 October.

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Harvest volumes Q3 2014 (1)

Farming Norway 64 thousand tonnes
Farming Scotland        14 thousand tonnes
Farming Canada 7 thousand tonnes
Farming Chile 17 thousand tonnes
Other 5 thousand tonnes
Total 107 thousand tonnes

In connection with the presentation of the Q2 2014 results, Marine Harvest guided a total harvest volume of 106 thousand tonnes (HOG) for Q3 2014.

(1) The harvest volumes are provided in head on gutted (HOG) equivalents. The figures include salmonid species only.
Additional information

Operational EBIT for the Group was approximately NOK  870 million in Q3 2014 (NOK 793 million in Q3 2013).

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

  • Norway            NOK 9.6
  • Scotland         NOK 9.8
  • Canada           NOK 4.6
  • Chile               NOK 6.0

Exceptional mortality in the quarter impacted operational EBIT adversely by about NOK 60 million in the quarter.

MH Feed generated an operational EBIT of about NOK 20 million at a production volume of about 56 thousand tonnes in the quarter. As the feed production is applied for internal purposes only, accounting practices prevent a realisation of the segments profits in the Group accounts prior to harvesting of the fish having consumed the feed.

Reported net interest bearing debt (NIBD) was approximately NOK 7,230 million by the end of the quarter.

The full Q3 2014 report will be released on 22 October at 0700 CET.

Original source: Marine Harvest