February 15, 2017 / 6:09 AM / a year ago

BRIEF-Salmar Q4 operating profit lags; raises 2017 output forecast

Feb 15 (Reuters) - Salmar Asa

* Salmar proposes 2016 dividend of nok 12 per share (Reuters poll nok 12.6)

* Salmar expects to harvest 131,000 tonnes in norway in 2017 (Reuters poll 126,000 tonnes) versus 128,000 tonnes seen in november

* Salmar q4 ebit before adjustments nok 557 million (Reuters poll nok 661 million)

* Salmar q4 revenues nok 2.5 billion (Reuters poll 2.13 billion)

* earnings in the quarter were negatively affected by a high contract rate and the challenging biological situation in Central Norway. Despite this, Operational EBIT in the quarter came to NOK 21 per kg, up NOK 11 per kg on the corresponding period last year

* Biological situation for fish transferred to sea in autumn of 2015 is better. Costs are therefore expected to be lower in q1 2017

* SalMar harvested 26,500 tonnes of salmon in the quarter, 11,600 tonnes less than in the same period the year before

* To optimise production of segment’s standing biomass, salmar has elected to push back harvesting of some volumes from 2016 until 2017

* Based on estimates of standing biomass at close of 2016, global supply of atlantic salmon is expected to grow by 2 per cent in 2017

* Combined with strong consumer demand, this indicates that salmon market will remain tight, with outlook for continued high salmon prices and strong earnings

* Norskott havbruk (scottish seafarms) expects to harvest 30,000 tonnes, compared to 28,000 tonnes in 2016 Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

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