Grieg Seafood ASA: Q3 2018 Operational Update
24 Octubre 2018 - 1:56AM
With reference to Grieg Seafood's Capital Markets
Update in September, the company has experienced gill related
diseases in Shetland and algal bloom in British Colombia (BC).
During the third quarter an increase in gill related diseases in
Shetland and recurring incidents of harmful algal bloom in BC, have
resulted in reduced survival rate and higher costs. Consequently,
third quarter earnings from the two regions have weakened (total
write-down of NOK million 50 in BC and Shetland due to reduced
survival rate towards the end of Q3 2018).
The Norwegian operations has performed better than
expected during the quarter. Biological performance in both
Finnmark and Rogaland have been good, and costs continued to
decline. In addition, GSF Finnmark got two new locations in Q3,
improving capacity utilization in the area. Quarterly earnings in
Rogaland are low due to planned low harvest volumes.
Preliminary figures for the third quarter 2018
indicates a total harvest volume for Grieg Seafood of 16 940 tonnes
and a group EBIT per kilo of NOK 9.43.
Key figures Q3 2018
- preliminary numbers
|
Q3 2018 |
Q3 2017 |
|
Harvest volume |
EBIT/kg |
Harvest volume |
EBIT/kg |
GSF Rogaland |
1
403 |
0.42 |
1
687 |
7.37 |
GSF Finnmark |
8
384 |
20.82 |
8
448 |
17.98 |
GSF BC |
2
642 |
4.55 |
2
350 |
14.18 |
GSF Shetland |
4
511 |
-1.21 |
4
391 |
6.03 |
ASA/Eliminations/NCI* |
|
-1.30 |
|
0.30 |
GSF Group |
16 940 |
9.43 |
16 875 |
13.59 |
* Non-controlling interests
For further information,
contact:
Andreas Kvame, CEO
Mob: +47 907 71 441
e-mail: andreas.kvame@griegseafood.com
Atle Harald Sandtorv, CFO
Mob: +47 908 45 252
e-mail: atle.harald.sandtorv@griegseafood.com
About Grieg Seafood
Grieg Seafood ASA is one of the world's leading salmon farmers,
specializing in Atlantic salmon. The Group has an annual production
target of 100 000 tonnes gutted weight in 2020. Our farming
facilities are in Finnmark and Rogaland (Norway), British Columbia
(Canada) and on Shetland (UK). Approximately 780 people are
employed by the Group. Grieg Seafood ASA was listed at the Oslo
Stock Exchange OSEBX) in June 2007. Our headquarters are situated
in Bergen, Norway. The business development of Grieg Seafood ASA
focuses on profitable growth, sustainable use of resources and
being the preferred supplier to selected customers.
To learn more, visit www.griegseafood.no.
This information is subject to
the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Grieg Seafood ASA via Globenewswire
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