Update after the end of Q2 2009>
Update after the end of Q2 2009
(Thomson Reuters ONE) - Harvest volumesThe harvest volumes are provided in head on gutted (HOG) equivalents.Harvest volumes Q2 2009 (2)Norway 49 thousand tonnesChile(1) 9 thousand tonnesCanada 12 thousand tonnesScotland 9 thousand tonnesOther 4 thousand tonnesTotal 83 thousand tonnesNotes:(1) Sold volume for Chile(2) Figures include salmonid species onlyIn connection with the presentation of the Q1 2009 results, MarineHarvest guided a total harvest volume of 73 thousand tonnes (HOG) forQ2 2009.Operational resultsMarine Harvest Norway will post an operational EBIT per kg ofapproximately NOK 8 for Q2. The figure is affected negatively by thescope of fixed price contracts. The contract rate varies from quarterto quarter and is in this quarter approximately 33%, in the high endof Marine Harvest's contract policy.The Board of Marine Harvest has approved an updated business plan forMarine Harvest Chile in which Marine Harvest confirms it long termcommitment to the business. The purpose of the plan is to harmonisethe scale of the business to the expected low level of activity inthe coming years, and to minimise losses during this period. The planwill trigger provisions and write-downs of approximately USD 115million in Q2. Marine Harvest Chile will post a negative operationalEBIT of approximately NOK 400 million and a negative financial EBITof approximately NOK 900 million in Q2. Mainly due to the reductionof biomass, the liquidity generation in Marine Harvest Chile waspositive in the quarter. The implications of the accounting effectsare as previously announced agreed with the bank syndicate and MarineHarvest is in compliance with all financial covenants at the end ofQ2.The strong prices in the spot and forward markets create a solidbasis for substantially deleveraging the company going forward. Netinterest bearing debt as of 30 June has been reduced to approximatelyNOK 6 billion.Marine Harvest will post its Q2 results on 14 August.For further information please contact:Jørgen K Andersen (CFO) +47 951 43 854Henrik Heiberg (VP Finance & Treasury) +47 917 47 724This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Bereitgestellt von Benutzer: hugin
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Datum: 14.07.2009 - 08:34 Uhr
Sprache: Deutsch
News-ID 3530
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