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SalMar's salmon farming centre. (Photo: SalMar)

SalMar gets 'satisfactory' results in Q4, despite biological problems

  (NORWAY, 2/27/2015)

SalMar salmon producer announced good results for the fourth quarter of 2014 due to price rises and high harvested volumes, in spite of some biological problems that still persist.

The company reported an operational EBIT at NOK 509 million (USD 67 million) in the analysed term. This result represents NOK 71 million (9.3 million) more than in the preceding quarter, and up NOK 160 million (USD 21 million) than Q4 2013.

Gross operating revenues reached NOK 2 billion (USD 263.5 million) in the last three month of 2014, compared to NOK 1.8 billion (USD 237 million) in the fourth quarter 2013. The increase is due to a higher volume of fish harvested, which totalled 41,700 tonnes, some 7,500 tonnes more than in the same term the y.

Conversely, Norskott Havbruk, 50 per owned by SalMar, harvested 5,500 tonnes. This was 2,600 tonnes less than in the third quarter 2014 and 1,200 tonnes less than the corresponding quarter in 2013.

Some 69 per cent of the quarter’s harvested volume was sold under contract, SalMar pointed out.

The salmon producer’s CEO, Leif Inge Nordhammer, explained, "We still face biological challenges associated with PD and salmon lice, with the impact on costs that this entails, but we have the situation under control and are working ceaselessly to improve the company's operations."

SalMar continues advancing on its open-ocean fish farming facility that will be highly escapeproof. In addition, it stresses that its design – along with its positioning in more exposed offshore locations – will lead to reduced levels of disease and salmon lice.

The Norwegian producer acknowledges that it will still have to face biological challenges. This may affect costs, growth rates and harvesting plans.

For 2015, SalMar expects to harvest around 139,000 tonnes in Norway, while Norskott Havbruk hopes to get some 31,000 tonnes.

The company estimated, based on the standing biomass at close of 2014, that global supply of Atlantic salmon will rise by just 3 per cent in the current year.

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Information of the company:
Address: Fv410
City: Kverva
State/ZIP: (NO-7266)
Country: Norway
Phone: +47 7244 7900
Fax: +47 7244 7901
E-Mail: [email protected]
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