Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


CEO Jon Hindar stated this was a total satisfactory result based on the current challenging salmon market. (Photo: Stock File/FIS)

Cermaq Q3's 'satisfactory' results despite complicated salmon market

Click on the flag for more information about Norway NORWAY
Wednesday, October 24, 2012, 01:00 (GMT + 9)

Cermaq’s EBIT pre fair value and biomass write-down for Q3 2012 was NOK 232 million (EUR 31.4 million) from NOK 348 million (EUR 47.1 million) year-on-year. EBIT pre fair value was NOK 180 million (EUR 24.3 million) following write-downs in Canada due to an IHN virus outbreak and in Norway from a PD outbreak.

“This is in total a satisfactory result based on the current challenging salmon market,” said CEO Jon Hindar. “The underlying operational farming cost has been stable with a reduction in Mainstream Norway, which previously was communicated and expected. EWOS is at the same time demonstrating its capability of optimising the production capacity in a peak production period.”

EWOS sold 388,000 tonnes of fish feed in third quarter 2012, up 5 per cent against third quarter 2011, due to a volume increase in Norway of 16 per cent. In other regions, volume fell.

EBIT pre fair value increased to NOK 346 million (EUR 46.8 million) from NOK 290 million (EUR 39.2 million) in the corresponding quarter last year.

Mainstream Norway reported an EBIT pre fair value of NOK 10 million (EUR 1.4 million) representing a loss of NOK 10 million (EUR 1.4 million), excluding the NOK 20 million (EUR 2.7 million) biomass write-down due to PD.

EBIT pre fair value per kg was NOK 0.8 (EUR 0.11) compared to NOK -1.2 (EUR -0.16) in the third quarter of 2011. For Nordland, it was NOK 2.0 (EUR 0.27) versus NOK 2.3 (EUR 0.31) and Finnmark was NOK -2.4 (EUR -0.32) against NOK -25.6 (EUR -3.46).

The production cost in both regions dropped compared to Q2 2012, but a 4,000 tonnes lower sales volume compared to previous estimates harmed the cost per kg for Finnmark.

Mainstream Canada's EBIT pre fair value was a loss of NOK 26 million (EUR 3.5 million) compared to a profit of NOK 7 million (EUR 946,909) in Q3 2011. The corresponding EBIT pre fair value per kg was NOK -4.6 (EUR -0.62) versus NOK 1.1 (EUR 0.15), mainly caused by lower prices.

Mainstream Chile had an EBIT pre fair value loss of NOK 57 million (EUR 7.7 million) compared to a profit of NOK 65 million (EUR 8.8 million) in the third quarter of last year. EBIT pre fair value per kg was NOK -8.2 (EUR -1.1) versus NOK 7.7 (EUR 1.04) a year ago.

For all species the prices were significantly lower compared to Q3 2011 and Q2 2012. Production cost increased year-on-year, but fell somewhat compared to Q2 2012. The biological performance is generally stable.

The acquisition of Cultivos Marinos Chiloé was completed in early October, adding above 30,000 tonnes of new capacity for Mainstream Chile; the acquisition will ensure improved flexibility in the combined farming business in Chile and support Mainstream's "four cornerstone" strategy for sustainable operations. Preliminary direct synergies have been estimated at around USD 6 million per year with full impact from 2014. 

Related articles:

- Cermaq quarter results affected by disease outbreaks
-
Cermaq sees improvements, negative cash flow in Q2

By Natalia Real
[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
United Kingdom
Jan 19, 02:20 (GMT + 9):
Parliamentary committee urges MSC to review its standards on sustainable fishing
Ghana
Jan 19, 01:30 (GMT + 9):
Improving transparency in fishing industry is essential to eradicate illegal activities
Spain
Jan 19, 01:20 (GMT + 9):
Galicia will commission another report to analyze effects of 'Brexit' negotiation in fisheries sector
Spain
Jan 19, 00:10 (GMT + 9):
Minister says Spain is ready to minimize 'Brexit' impact in fisheries sector
Australia
Jan 18, 23:50 (GMT + 9):
Austral Fisheries will use revolutionary blockchain platform to track its toothfish
Argentina
Jan 18, 23:10 (GMT + 9):
Global change could affect hake fisheries in Tierra del Fuego
United States
Jan 18, 23:00 (GMT + 9):
Four companies participate in 'fish-free' fish oil challenge
Mexico
Jan 18, 22:00 (GMT + 9):
Tuna fishing season begins in the Pacific Ocean
Peru
Jan 18, 21:30 (GMT + 9):
Jack mackerel and mackerel catch limits set for 2019
Ecuador
Jan 18, 20:30 (GMT + 9):
In search of greater power within the tuna market
United States
Jan 18, 02:50 (GMT + 9):
Lobster processor to close its plant in Connecticut
Mexico
Jan 18, 02:30 (GMT + 9):
Creation of state fisheries and aquaculture councils promoted
Australia
Jan 18, 02:30 (GMT + 9):
Threats to access small resources concern the sector
Peru
Jan 18, 01:30 (GMT + 9):
Camposol's subsidiary to strengthen shrimp production
New Zealand
Jan 18, 01:20 (GMT + 9):
IN BRIEF - What does marine heatwave mean for future of New Zealand's fish?



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Parliamentary committee urges MSC to review its standards on sustainable fishing
United Kingdom A UK parliamentary committee has called on the Marine Stewardship Council to address concerns about the organisation's standard for sustainable fishing in the world's oceans.
Threats to access small resources concern the sector
Australia Seafood Industry Australia has announced a national crisis meeting in Western Australia in February, to discuss the ongoing threats to resource access and property rights occurring across the nation.
Lobster processor to close its plant in Connecticut
United States Garbo Lobster, a company that has been operating for more than three decades in southeastern Connecticut and which supplies lobsters around the world, will close its Groton headquarters.
Sri Lankan blue crab recommended as 'good alternative'
Sri Lanka The Monterey Bay Aquarium’s Seafood Watch program has released new recommendations for several seafood products, including a "Good Alternative" recommendation for blue crab from Sri Lanka.
 
Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation
Marona S.A.
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2019 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER