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UPDATE 1-Marine Harvest increases dividend, keeps 2017 harvest guidance despite cut in Norway
May 10, 2017 / 5:53 AM / in 3 months

UPDATE 1-Marine Harvest increases dividend, keeps 2017 harvest guidance despite cut in Norway

2 Min Read

(Adds contract coverage in Q2 and details about 2017 harvest guidance)

May 10 (Reuters) - Fish farmer Marine Harvest:

* Marine Harvest q1 operational ebit eur 220 million versus eur 215 million in preliminary April 20 statement and vs eur112 mln in Q1 2016

* Marine Harvest q1 revenues eur 892 million (Reuters poll eur 854 million) and vs eur 810 mln in q1 2016

* The operational result was a new first quarter record high

* Marine Harvest proposes q1 dividend of nok 3.00 per share versus nok 2.8 in q4

* Marine Harvest sees 2017 harvest of 403 000,000 tonnes versus previous forecast 403,000 (Reuters poll 397,000)

* Marine Harvest sees 2017 harvest in Norway of 242,000 tonnes versus previous forecast of 250,000 tonnes (Reuters poll 246,000 tonnes)

* Marine Harvest asa: 2017 volumes in Norway reduced by 8,000 tonnes due to biological issues

* Scotland: increased by 5,000 tonnes due to good growth, Faroes increased by 2,500 tonnes due to good growth and higher smolt size

* Marine Harvest now sees 2017 global industry output growth 1 to 5 percent versus -1 to +4 percent seen in February

* Marine Harvest now sees 2017 industry output in Norway +1 to +3 percent versus -2 to +2 percent seen in February

* Marine Harvest asa: future prices (Nasdaq) next twelve months eur 6.5 per kg (nok 62 per kg)

* Marine Harvest asa: demand for salmon continues to be good and supported by several megatrends

* Sees China opportunities

* Q2 contract coverage 57 pct (in pct of guided volume) in Norway, 43 pct in Scotland, 0 pct in Canada and 31 pct in Chile

* Marine Harvest asa: entered into a term sheet to refinance its existing bank facility with a senior secured five year eur 1,206 million credit facility with DNB, Nordea, ABN Amro, Rabobank, Danske bank and SEB Source text for Eikon: Further company coverage: (Reporting By Ole Petter Skonnord, editing by Gwladys Fouche)

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