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Q2 18 – Operational EBIT of MNOK 181

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Today Norway Royal Salmon (NRS) reports an operational EBIT of MNOK 181 for the second quarter 2018 and EBIT per kg of NOK 24.39. Corresponding figures for the same quarter last year were MNOK 135 and NOK 30.70.

- In the quarter, the fish disease ISA (Infectious Salmon Anemia) was detected at one NRS’ site in Region North. Costs related to ISA had a significant impact on the result for the quarter and estimated volume for 2018, says CEO Charles Høstlund.

The operational cash flow in the second quarter was MNOK 325. Even though the Group paid MNOK 225 in dividend, net interest-bearing debt decreased in the quarter by MNOK 33 to MNOK 413. The equity at the end of the quarter is MNOK 2 101, which equates an equity ratio of 52 per cent. Return on capital employed for the last four quarters is 40 per cent.

Region North

Region North posted an operational EBIT of MNOK 157.4 in the quarter, compared with MNOK 107.8 in the corresponding quarter last year. Operational EBIT per kg gutted weight was NOK 24.73 compared with NOK 29.68 in the corresponding quarter last year.

Region South

Region South posted an operational EBIT of MNOK 56.5 in the quarter, compared with MNOK 50.0 in the corresponding quarter last year. Operational EBIT per kg gutted weight was NOK 23.49, compared with NOK 31.30 in the corresponding quarter last year.

NRS harvested 8 773 tonnes gutted weight in the quarter, which is 68 per cent higher than in the same quarter last year. 6 365 tonnes of the total volume were harvested in Region North and 2 407 tonnes in Region South. Estimated harvest volume is 36 000 tonnes for 2018, an increase of 13 per cent from 2017. The sales business sold 17 150 tonnes salmon during the quarter, which is approximately equal to the corresponding quarter last year.

- NRS purchased 800 tonnes MAB in Region North for MNOK 132. Both the project for construction of a new smolt facility and Arctic Offshore Farming go according to plan. These are major investments that will have significant effects and increase the Group's potential, 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 39 426 tonnes MAB distributed between 34 746 tonnes MAB in Region North located in West Finnmark and Troms and 4 680 tonnes MAB in Region South in the area around Haugesund. In addition, the group has minority interest 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 offers salmon to the market through its own sales organisation. For further details, please visit www.norwayroyalsalmon.com.

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