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UPDATE 1-Marine Harvest Q1 beats forecast as Scotland earnings ahead
April 20, 2017 / 4:50 AM / 4 months ago

UPDATE 1-Marine Harvest Q1 beats forecast as Scotland earnings ahead

(Adds volume, ebit by region)

April 20 (Reuters) - Marine Harvest Asa, the world's largest fish farmer, reported preliminary first-quarter earnings ahead of forecasts on Thursday:

* Q1 operational ebit EUR 215 million ($230.46 million)(Reuters poll EUR 206 million) vs EUR 112 million in Q1 2016

* Q1 harvest volume 84,000 tonnes (Reuters poll 84,300 tonnes). In connection with the presentation of the Q4 2016 results, Marine Harvest had guided a total harvest volume of 84,000 tonnes for Q1

* Norway unit had Q1 harvest volume 49,000 tonnes (Reuters poll 49,300 tonnes)

* Scotland unit Q1 volume 18,000 tonnes, Canada 9,000 tonnes, Chile 6,000 tonnes, other 2,000 tonnes

* Operational EBIT per kilo through the value chain in Norway was EUR 2.50 (Reuters poll EUR 2.46)

* Operational EBIT per kilo through the value chain in Scotland was EUR 3.0 (Reuters poll EUR 1.95)

* Operational EBIT per kilo through the value chain in Canada was EUR 3.35 (Reuters poll EUR 3.39)

* Operational EBIT per kilo through the value chain in Chile was EUR 1.85 (Reuters poll EUR 1.80)

* Reported net interest bearing debt was approximately EUR 845 million at end of quarter

* Complete Q1 2017 report will be released on May 10 at 0630 CET Source text for Eikon: Further company coverage: ($1 = 0.9329 euros) (Reporting By Terje Solsvik)

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