He told delegates that operating revenues for his company reached NOK 4,588 million (EUR 594.6 million) in the fourth quarter of 2010 compared to NOK 3,805 million (EUR 493.2 million) in the corresponding quarter of 2009.

The company’s harvest volume reached 90,485 tonnes in the fourth quarter of 2010, just over the 87,409 tonnes for the same period in 2009. Aarskog also noted remarkably higher market prices in major markets compared to the fourth quarter during the year prior to 2010.

Operational EBIT was NOK 1,062 million (EUR 137.6 million) against NOK 520 million (EUR 67.4 million) in the same quarter of 2009. Marine Harvest accomplished better prices in Norway and the operational EBIT margin rose from 13.7 to 23.1 per cent.

Furthermore, earnings per share went from NOK 0.15 (EUR 0.019) in the fourth quarter of 2009 to NOK 0.30 (EUR 0.039) in th same period of 2010. Cash flow from operations reached NOK 305 million (EUR 39.5 million) versus NOK 102 million (EUR 13.2 million).

Marine Harvest experienced good cost control with a better price achievement and high contract share in Norway; poor biology along with high costs and a strong market in Canada; positive results in Scotland in spite of a high contract share; and a profitable yet low activity level that has adapted to risk/market in Chile.

Aarskog said the seafood farming juggernaut is well-geared for strong markets this year and the next. A volume increase of 15 per cent or so is expected this year as well as an increased contract share. Chile is likely to see strong longer term growth.

NASF is the world’s largest seafood business conference, where seafood industry representatives meet yearly to discuss all major facets of the seafood sectors.

The forum concentrates on the key network between avant-garde innovation, technology, research, policy, finance and commercialisation. 

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