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Friday, February 6, 2015

06/02/2015: Strong performance in fourth quarter for Marine Harvest

Marine Harvest achieved an operational EBIT of 1032 million Norwegian Krone (NOK) (US$137.95 million) in the fourth quarter of 2014, compared to NOK 1037 million (US$138.62 million)  in the corresponding quarter of 2013.

Marine Harvest delivered a strong operational EBIT in the fourth quarter of 2014. As a consequence of the good result, the Board has resolved a quarterly dividend of NOK 1.20 (US$0.16) per share, says CEO Alf-Helge Aarskog.

Marine Harvest Group reported operational revenues of NOK 6863 million (NOK 6743 million in 2013) in the fourth quarter of 2014, which is a record high. Total harvest volumes were 105,122 tonnes in the quarter (103,378 tonnes in 2013). Harvest guidance for 2015 is 440,000 tonnes.

“We have increased our feed self-sufficiency in Norway from 60 percent to 80 percent. Through the gradual in-sourcing of feed, we expect lower feed costs as well as improved growth, better feed conversion ratio and improved quality of the end product,” says CEO Alf-Helge Aarskog.

Salmon of Norwegian origin achieved an operational EBIT per kilo of NOK 12.59 (NOK 12.04 in 2013) in the fourth quarter, while salmon of Scottish and Canadian origin reported operational EBIT per kilo of NOK -3.42 and NOK 3.69 respectively (NOK 10.25 and NOK 10.20 in 2013). Salmon of Chilean origin achieved an operational EBIT per kilo of NOK 0.35 (NOK 2.48 in 2013).

The figures include contribution from Sales and Marketing, including VAP Europe and Morpol Processing. Marine Harvest VAP Europe reported an operational EBIT of NOK 36 million compared to NOK -37 million in the fourth quarter of 2013. Morpol Processing reported an operational EBIT of NOK 81 million (NOK 63 million in 2013).

“I'm excited about the contemplated merger with AquaChile. Our already strong position within salmon farming in Chile will be further strengthened, and the combined entity will benefit the entire Chilean industry from a sustainability point of view,” says Aarskog.

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