€130Mn cash dividend from Marine Harvest Q4

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In the fourth quarter of 2017 Marine Harvest achieved an operational EBIT of EUR 181 million. For 2017 as a whole Marine Harvest made an operational EBIT of EUR 792 million, which is the best year in the history of the Group.  

Marine Harvest Group achieved an operational revenue of EUR 1.01 billion in the quarter and EUR 3.65 billion for 2017. The full-year turnover was a record high for the Group.

Supported by the results and a solid financial position, the MHG board decided on a quarterly dividend of NOK 2.60 per share. The dividend will be distributed as an ordinary dividend and not as repayment of paid-in capital, according to a statement given from Marine Harvest this morning.

“Global harvest growth in the industry put pressure on the salmon prices in all markets in the quarter. It is encouraging to see that the supply is growing, but the market needs time to adapt to the recovery after the significant global supply contraction in 2016,” CEO Alf-Helge Aarskog said.

Marine Harvest reported operational revenues of EUR 1.01 billion in the fourth-quarter of 2017. Total harvest volume was 112, 628 tonnes in the quarter. Harvest guidance for 2018 is 410 000 tonnes.

Salmon of Norwegian origin achieved an operational EBIT per kilo of EUR 1.77 in the fourth quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of EUR 1.19 and EUR 0.98 respectively. Salmon of Chilean origin reported operational EBIT per kilo of EUR 1.03 in the quarter.

MH Consumer Products reported an operational EBIT of EUR 25.9 million. MH Feed reported an operational EBIT of EUR -2.8 million.

“2017 was a great year for Marine Harvest financially, and I am proud of the work all Marine Harvest staff have put in to accomplish this. However, I am concerned about the rising cost and the challenging biology. Hence, we have initiated a global cost savings program with a target of EUR 50 million savings. The savings are expected to be realized in all parts of the organization”, Aarskog said.