Marine Harvest ASA (OSE:MHG, NYSE:MHG): Q3 2016 Trading update

BERGEN, Norway, Oct. 17, 2016 (GLOBE NEWSWIRE) -- Harvest volumes Q3 2016 (1)

Farming Norway 64 thousand tonnes
Farming Scotland 10 thousand tonnes
Farming Canada 10 thousand tonnes
Farming Chile 7 thousand tonnes
Other 6 thousand tonnes
Total 97 thousand tonnes

In connection with the presentation of the Q2 2016 results, Marine Harvest guided a total harvest volume of 94 thousand tonnes (GWE) for Q3 2016.

(1) The harvest volumes are provided in gutted weight equivalents (GWE). The figures include salmonid species only.

Additional information

Operational EBIT for the Group was approximately EUR 178 million (EUR/NOK 9.2980) in Q3 2016 (EUR 77.9 million in Q3 2015, EUR/NOK 9.2463).

Total operational EBIT per kg through the value chain were approximately as follows for the main sources of origin:

Norway EUR 2.00
Scotland EUR 0.60
Canada EUR 2.60
Chile EUR 1.40

Reported net interest bearing debt (NIBD) was approximately EUR 880 million (EUR/NOK 8.9644) at the end of the quarter.

Volume guidance for Q4 2016 and 2017

The updated guidance for Q4 2016 has been reduced as a consequence of biological challenges.

Figures in thousand tonnes Q4 2016 2016
full year
Deviation 2017
full year
Farming Norway 62 234 -19 252
Farming Scotland 14 47 -2 51
Farming Canada 10 44 - 42
Farming Chile 7 37 1 45
Other 7 19 1 13
Total 100 381 -19 403

The complete Q3 2016 report will be released on 2 November at 06:30 CET.

This press release may be deemed to include forward-looking statements, such as statements that relate to salmonid production volume. Actual events could differ materially from those indicated by these statements because the realization of those events is subject to many risks and uncertainties. Factors that could affect actual events include risks associated with fluctuations in salmon prices, risks associated with the supply and demand of salmon, including global economy, salmon prices and consumer preferences and operational risks, in particular those relating to our cost in Norway. All forward-looking statements included in this news release are based on information available at the time of the release, and Marine Harvest assumes no obligation to update any forward- looking statement.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


Ivan Vindheim, CFO, Mobile: +47 958 71 310

Kim Galtung Døsvig, IR Officer & Head of Treasury, Mobile: +47 908 76 339

Source:Marine Harvest ASA