Q4 17 – Operational EBIT of MNOK 95
PRESS RELEASE: Q4 17 – Operational EBIT of MNOK 95
(Trondheim, 13. February 2018)
Today Norway Royal Salmon (NRS) reports an operational EBIT of MNOK 95 for the fourth quarter 2017 and EBIT per kg of NOK 15.51.
Today Norway Royal Salmon (NRS) reports an operational EBIT of MNOK 95 for the fourth quarter 2017 and EBIT per kg of NOK 15.51. Corresponding figures for the same quarter last year were MNOK 101 and NOK 26.83.
- In the quarter, the fish disease ISA was detected at three NRS’ sites in an operational area in Region North. The extraction of fish from these sites started immediately after the detection, and this has had a significant impact on the result for the quarter, says CEO Charles Høstlund.
For the financial year of 2017, NRS's operating income was almost NOK 5 billion and NRS achieved an operational EBIT of MNOK 628. The Board proposes a dividend of NOK 5.20 per share for 2017.
During the quarter, the Group's net interest-bearing debt increased by MNOK 94 to MNOK 633 after the biomass increased with 3 869 tonnes. Equity at the end of the quarter is MNOK 1 851, which equates an equity ratio of 48 per cent. Return on capital employed for the last four quarters is 40 per cent. The credit facilities from the Group's bank connection has increased by MNOK 500 to MNOK 1 400 in the quarter.
Region North posted an operational EBIT of MNOK 116.0 in the quarter, compared with MNOK 75.2 in the corresponding quarter last year. Operational EBIT per kg gutted weight was NOK 15.84 compared with NOK 28.77 in the corresponding quarter last year.
Region South posted an operational EBIT of MNOK 24.4 in the quarter, compared with MNOK 50.7 in the corresponding quarter last year. Operational EBIT per kg gutted weight was NOK 14.12, compared with NOK 24.39 in the corresponding quarter last year.
NRS harvested its second highest volume in a quarter of 9 052 tonnes gutted weight, which is 93 per cent higher than in the same quarter last year. 7 326 tonnes of the total volume were harvested in Region North and 1 726 tonnes in Region South. Estimated harvest volume is 42 500 tonnes for 2018, an increase of 33 per cent from 2017. The sales business sold 22 471 tonnes salmon during the quarter, an increase of 27 per cent from the corresponding quarter last year. This is the highest sold volume for a quarter in the history of NRS.
- NRS has a strong focus on growth and utilization of our production capacity and the biomass in the sea is 26 per cent higher compared to the end of the same quarter last year, says Charles Høstlund.
For more information, please contact:
· CEO Charles Høstlund, +47 994 18 449
· CFO Ola Loe, +47 911 79 411.
Norway Royal Salmon in brief
Norway Royal Salmon (NRS) group owns 35 fish farming licenses and is a minority shareholder in three associated Norwegian fish farming companies which together own ten fish farming licenses, as well as Arctic Fish on Iceland. NRS is an attractively positioned fish farming group, which through an extensive network of collaborating enterprises and in-house production units, offers salmon to the market through its own sales organisation. For further details, please visit www.norwayroyalsalmon.com.