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BRIEF-Norway Royal Salmon Q4 earnings miss forecast, dividend ahead
February 14, 2017 / 5:40 AM / 8 months ago

BRIEF-Norway Royal Salmon Q4 earnings miss forecast, dividend ahead

Feb 14 (Reuters) - Norway Royal Salmon Asa

* Q4 operational ebit nok 101 million (Reuters poll nok 112 million)

* q4 revenues nok 1.18 billion (nok Reuters poll 1.19 billion)

* proposes nok 9.50 per share in dividend for 2016 (reuters poll mok 6.51)

* expects 2017 harvest volume of 34,000 tonnes (versus previous guidance 34,000 tonnes)

* The farming operations has hedged prices for 8 112 tonnes for 2017 to a nasdaq-equivalent price of above nok 69.00 per kg

* Norway royal salmon expects global decline in volume to continue through q1 of 2017. In the first quarter a reduction between 7 and 11 per cent is expected globally. In the next 3 quarters a global growth between 4 and 8 percent is expected

* For 2017 we expect an increase in supply to global market of 1 to 3 per cent. This provides basis for a positive market outlook for 2017

* Harvested volume for the quarter was 4 692 tonnes, because of better than expected production, this was 192 tonnes more than estimated at the end of the last quarter Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

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