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BRIEF-Salmar q3 results above forecast, ups harvest guidance
November 15, 2017 / 5:50 AM / in 7 days

BRIEF-Salmar q3 results above forecast, ups harvest guidance

Nov 15 (Reuters) - Fish farmer Salmar Asa:

* Salmar q3 ebit before adjustments nok ‍801.3​ million (Reuters poll nok 681 million) vs NOK 576.3 mln in q3 2016

* Salmar q3 revenues nok ‍2.7​ billion (Reuters poll 2.48 billion) vs nok 2.3 bln in q3 2016

* Salmar expects to harvest ‍134,000​ tonnes in Norway in 2017 (Reuters poll 131,000 tonnes) vs previous 131,000 tonnes

* Partly owned Norskott Havbruk (Scottish Seafarms) and Arnarlax are expected to harvest 32,000 tonnes and 9 500 tonnes respectively in 2017​

* Salmar expects to harvest ‍143,000​ tonnes in Norway in 2018 (Reuters poll 139,000 tonnes)

* ‍Norskott Havbruk (Scottish Seafarms) and Arnarlax expect to harvest 27,000 tonnes and 11,000 tonnes respectively in 2018​

* ‍Strong operations in all segments and an improving biological situation have enabled Salmar to deliver strong financial results, despite a fall in salmon prices​

* ‍Substantial investments we have made over time to deal with salmon lice are now starting to pay off​

* ‍Ebit per kg of nok 23.60 in q3, while ebit per kg in q2 came to nok 28.12​

* Expects steady costs in q4 in Norway

* ‍contract rate in q4 2017 will be around 40 per cent, with price levels similar to first half of 2017

* Says demand is good

* Salmar’s ocean farm 1 arrived Sept 5 2017, installation and stocking of fish according to plan, expects first harvest in 2h 2018‍​ Source text for Eikon: Further company coverage: (Reporting By Ole Petter Skonnord)

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