Marine Harvest cash dividend after healthy Q1

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Marine Harvest achieved an operational EBIT of EUR 158 million in the first quarter of 2018.  Supported by the good results, a strong market outlook, and a solid financial position, the Board has resolved a quarterly dividend of NOK 2.60 per share.

“The demand for salmon has increased globally this year, compared to the end of 2017. This has led to high prices and a good result for Marine Harvest in the first quarter”, says CEO Alf-Helge Aarskog.

Marine Harvest reported operational revenues of EUR 862 million in the first quarter of 2018. Total harvest volume was 81 212 tonnes in the quarter. Estimated harvest volume for the full year of 2018 have been reduced from 410 000 tonnes to 400 000 tonnes due to less growth in sea, according to a press release from the company.

Salmon of Norwegian origin achieved an operational EBIT per kilo of EUR 2.26 in the first quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of EUR 1.85 and EUR 1.10 respectively. Salmon of Chilean origin reported operational EBIT per kilo of EUR 1.36 in the quarter. MH Consumer Products reported an operational EBIT of EUR 20.9 million. MH Feed reported an operational EBIT of EUR -4.3 million.

“I am encouraged by Marine Harvest Consumer Products and its seasonally record high results. It is also very satisfactory that our organic farming operations in Marine Harvest Ireland have achieved record high first quarter results on strong demand and reduced costs”, says Aarskog.