Marine Harvest ASA (NO) - UPDATE AFTER THE END OF Q2 2011

July 13, 2011 10:37

Marine Harvest ASA, which is the world's leading seafood company and largest producer of farmed salmon, has reported its harvest volumes in the second quarter of 2011, according to Russian Fish Insider Report published by

Harvest volumes Q2 2011 (1)
MH Norway54 thousand tonnes
MH Chile (2)1 thousand tonnes
MH Canada8 thousand tonnes
MH Scotland13 thousand tonnes
Other4 thousand tonnes
Total80 thousand tonnes

In connection with the presentation of the Q1 2011 results, Marine Harvest guided a total harvest volume of 82 thousand tonnes (HOG) for Q2 2011.

(1) The harvest volumes are provided in head on gutted (HOG) equivalents. The figures include salmonid species only.

(2) Sold own volume for Chile.

Additional information

Operational EBIT for the Group was approximately NOK 890 million in Q2 2011 (NOK 792 million in Q2 2010). Marine Harvest Norway has expensed exceptional costs of approximately NOK 50 million which are mainly relating to pancreas disease (PD) in Region South. Operational EBIT per kg for MH Norway was approximately NOK 12.90 in the quarter. Net interest bearing debt (NIBD) was approximately NOK 5,800 million by the end of the second quarter 2011. When adjusting for the Q2 dividend of approximately NOK 2,900 million, NIBD was reduced by approximately NOK 1,700 million during the quarter. Marine Harvest has reached agreement with its lenders to up-scale the EUR 600 million Facility Agreement by EUR 200 million. The terms of the Facility Agreement will not be affected by the up-scaling.

Marine Harvest will release its Q2 2011 results on 20 July at 0700 CET.

For further information please contact:
Jørgen K Andersen (CFO) +47 951 43 854
Henrik Heiberg (VP Finance & Treasury) +47 917 47 724

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