Marine Harvest unfazed with lower earnings and profit

Liza Mayer
May 10, 2018
By
Growth in salmon demand in Q1 2018 from Q4 2017 has boosted prices, says Marine Marvest
Growth in salmon demand in Q1 2018 from Q4 2017 has boosted prices, says Marine Marvest Marine Harvest
Marine Harvest’s operational earnings and profit fell by 28 percent and 15 percent, respectively, but the Norwegian salmon producer remains optimistic.

“The demand for salmon has increased globally this year, compared to the end of 2017. This has led to high prices and a good result for Marine Harvest in the first quarter,” says CEO Alf-Helge Aarskog.

The company’s operational revenues were EUR 862 million ($1 billion) in the first quarter of 2018, while profit was EUR 179.1 million in Q1 of 2018 ($212.8 million).

The Consumer Products segment posted a significant increase in operational earnings—EUR 20.9 million ($24.8 million) up 29 percent compared to EUR 12.9 million ($15.3 million) year-on-year.

“I am encouraged by Marine Harvest Consumer Products and its seasonally record high results. It is also very satisfactory that our organic farming operations in Marine Harvest Ireland have achieved record high first quarter results on strong demand and reduced costs,” says Aarskog.

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