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Total operating profit (EBIT) of operations for the quarter amounted to NOK 939.1 million, compared to NOK 801.3 million for the same period last year, writes iLaks. .
"Good operations and good biological performance have enabled SalMar to achieve a good financial result, and the result has been made possible thanks to the efforts of our employees, who have contributed to reducing costs, obtaining good prices and improving the effectiveness of slaughter and post-processing activities, "said Olav-Andreas Ervik, CEO of SalMar.
Total revenues amounted to NOK 2.8 billion over the period, compared to 2.7 billion in the third quarter of 2017.
26 crowns of EBIT per kilo
The slaughtering volume amounted to 36,100 tons, compared to 34,000 tons in the third quarter of 2017. Average salmon price (NASDAQ) for the period of NOK 54.80 per kilo, down 1 NOK 75 per kilogram compared to the same period of the previous year. Despite lower prices, operating profit per kilo of SalMar increased by NOK 2,31 to NOK 26,03.
"The Midt-Norge sector had a solid operating result in the third quarter, with the fish slaughtered in the spring of 2017 being the main slaughter weight during this period, which delivered very good biological performance with low mortality. and few treatments for lice, which resulted in a low cost, "writes the company.
"The slaughter volume in the Northern Norway Segment was scheduled for the third quarter." Investment in new MTB capacity and underperformance resulted in the modification of slaughter plans. in order to optimize the use of MTB and the volumetric potential of standing biomass. "
The cost of biomass slaughtered in the quarter is expected to be higher than previously, and this increase is mainly due to high fixed unit costs due to low volumes, according to the company.
In the fourth quarter, a significant increase in slaughter volume is expected and the level of costs is expected to decrease compared to the third quarter.
Profit improvement for sales and processing activities
The result of the sales and processing activities is a profit of NOK 73.1 million for the quarter, compared to NOK 46.2 million for the same period of the previous year. The profit improvement is due to the good price performance: about 42% of the volume was sold at prices higher than those of the market. In addition, record volumes have helped increase capacity utilization and improve operational efficiencies in slaughter and processing activities.
Contract coverage for the fourth quarter of 2018 is 35% on November 9th.
Maintains planned slaughter volume
SalMar maintains a forecast slaughter volume of 143 000 tonnes in Norway in 2018, spread between 100 000 tonnes in central Norway and 43 000 tonnes in northern Norway. In Norskott Havbruk (Scottish Seafarms) and Arnarlax, a slaughter volume of 26 000 tonnes and 6 100 tonnes was expected in 2018.
For 2019, SalMar plans to cut 145,000 tonnes in Norway.
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