Costs still high for Grieg Shetland: Harvest volume down 37%

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Costs remain high, driven by gill-health issues, plankton and high sea lice pressure for Scotland. BC fared better.

On Thursday morning, Grieg Seafood presented their fourth-quarter report showing a quarter driven by solid earnings from performance in Norway.

But for GSF Shetland, harvest volume decreased by 37 % compared to Q4 2018, partly due to reduced harvest weight. EBIT per kilo was EUR -0.38, down from last quarters’ EUR 0.12.

It said that it had initiatives to improve biological performance, including more robust smolt, which increased survival to 89 per cent in the last twelve months.

Last year, Grieg Seafood said that to remedy the health issues, it would be applying better monitoring of algae and treatment in freshwater.

It was better for GSF British Columbia, whose volume was up 29 per cent, despite also having biological challenges. EBIT per kilo was EUR 0.91, up from Q4’s EUR 0.67.