Salmon farming is recovering after the health, economic and labor crisis in Chile. (Photo: Marine Harvest)
Despite production issues, Marine Harvest trusts Chilean potential
Friday, May 13, 2011, 23:50 (GMT + 9)
The CEO of Marine Harvest ASA, Alf-Helge Aarskog, expressed his trust "on Chile's long-term potential", while the salmon industry is recovering after the health, economic and labor crisis caused by the salmon anemia infectious virus (ISA).
While the local salmon industry continues solving issues -- low quality of juveniles and widespread use of antibiotics, among others -- the expectations of the salmon producer’s executive with Norwegian capital are high.
"We need to be careful when we notice the production is growing rapidly, while the regulation is not keeping pace and when there’s an increasing number of parasites in fish and antibiotics rise," said the businessman.
In recent years, the world demand for salmon recorded a double-digit growth thanks to increased consumption of healthier foods.
According to the latest financial report by Marine Harvest ASA, in the first quarter revenues reached NOK 3.942 million (EUR 502.7 million), while in the same period of 2010 they amounted to NOK 3.454 million (EUR 440, 5 million).
In addition, the company's EBIT increased from NOK 766 million (EUR 97.7 million) in the first quarter of 2010 to NOK 1.052 million (EUR 134.2 million) during the same period of 2011.
According to the group, Marine Harvest Chile was able to adapt to a lower level of activity and achieved an operating EBIT of NOK 46 million (EUR 5.9 million) in the first quarter, despite the fact that salmon was only harvested in the first two months of the year .
Salmon sales of their own production at higher prices and lower costs were the main factors contributing to the success of this period.
Marine Harvest expects to produce about 341,000 tonnes of salmon this year, of which about 24,000 tonnes (gutted weight) would be supported by the Chilean branch.
- EBIT rises by 58 pc for Marine Harvest
- Marine Harvest regains profitability in Chile
By Analia Murias
Photo Courtesy of FIS Member Marine Harvest Chile S.A.