Norway Royal Salmon Q2: “Costs related to ISA had a significant impact on the result for the quarter”

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Norway Royal Salmon (NRS) reports an operational EBIT of €18.6Mn for the second quarter 2018 and EBIT per kg of €2.5. Corresponding figures for the same quarter last year were €13.9Mn and €3.2.

– In the quarter, the fish disease ISA (Infectious Salmon Anemia) was detected at one NRS’ site in Region North. Costs related to ISA had a significant impact on the result for the quarter and estimated volume for 2018, says CEO Charles Høstlund.

Even though the Group paid €13.9 million in dividend, net interest-bearing debt decreased in the quarter by €3.4 million to €42.5 million. The equity at the end of the quarter is €216 million, which equates an equity ratio of 52 per cent.

Region North
Region North posted an operational EBIT of €16.2 million in the quarter, compared with €11.1 million in the corresponding quarter last year. Operational EBIT per kg gutted weight was €2.5 compared with €3 in the corresponding quarter last year.

Region South
Region South posted an operational EBIT of €5.8 million in the quarter, compared with €5.1 million in the corresponding quarter last year. Operational EBIT per kg gutted weight was €2.4, compared with €3.2 in the corresponding quarter last year.

Harvested 68 per cent more
NRS harvested 8,773 tonnes gutted weight in the quarter, which is 68 per cent higher than in the same quarter last year. 6,365 tonnes of the total volume were harvested in Region North and 2,407 tonnes in Region South. Estimated harvest volume is 36,000 tonnes for 2018, an increase of 13 per cent from 2017.

The sales business sold 17,150 tonnes salmon during the quarter, which is approximately equal to the corresponding quarter last year.

– NRS purchased 800 tonnes MAB in Region North for €13.6 million. Both the project for construction of a new smolt facility and Arctic Offshore Farming go according to plan. These are major investments that will have significant effects and increase the Group’s potential, says Charles Høstlund.