Marine Harvest ASA - Update After the End Of Q1 2011

April 14, 2011 09:57

Harvest volumes Q1 2011 (1)

MH Norway

48 thousand tonnes

MH Chile (2)

4 thousand tonnes

MH Canada

10 thousand tonnes

MH Scotland

10 thousand tonnes


4 thousand tonnes


76 thousand tonnes

In connection with the presentation of the Q4 2010 results, Marine Harvest guided a total harvest volume of 73 thousand tonnes (HOG) for Q1 2011, reports with reference to Marine Harvest.

(1) The harvest volumes are provided in head on gutted (HOG) equivalents. The figures include salmonid species only.
(2) Sold own volume for Chile.

Operational EBIT for the Group was approximately NOK 960 million in Q1 2011 (NOK 608 in Q1 2010). Operational EBIT per kg for MH Norway was approximately NOK 13.40 in the quarter.

MH Norway's customers have continued to show a strong interest for entering into contracts with duration throughout 2011 at prices up to NOK 40 per kg (HOG, FCA Oslo). As a consequence the average price in the contract portfolio has been further increased and the average contract share for Q2-Q4 2011 is currently 49%.

Marine Harvest will enter into new feed contracts during Q2 2011. Furthermore higher wild catch quotas in South American fisheries are expected to positively influence raw material prices during 2H 2011. As a result, Marine Harvest expects feed prices to decline from the current level in 2H 2011 and 2012.

On 31 March 2011, the Board of Marine Harvest ASA resolved to propose a dividend of NOK 0.8 per share to the 2011 Annual General Meeting. Furthermore, the Board expects to announce a semi-annual dividend during 2H 2011.

Marine Harvest will release its Q1 2011 results on 11 May 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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