Lerøy Seafoods achieved a profit after tax of NOK 88.1 million in Q2 2015, down from 207.4 million kroner in the same quarter the year before.
Driftsfinntektene in the quarter amounted to 3 , 3 billion, up from 3.2 billion in Q2 2014.
Operational earnings before biomassendringer ended at NOK 370 million, down from 500 million in the same quarter the year before.
Here was the consensus of 330 million, according to TDN Finans.
The operating profit was 154.7 million kroner, compared with 293.6 million kroner in the same quarter the year before.
The result corresponds to an operating profit before fair value adjustment of 9.2 million per. kg 12.2 million in the same period last year, states the quarterly report.
– This is the highest revenue in any quarter in the Group’s history, which is a reflection of our increased activity downstream. The main reason why the operating profit in the second quarter of 2015 is lower than the operating profit in the same period last year, higher extraction cost for self-produced salmon and trout, says CEO Henning Beltestad.
The group has invested heavily in the use of clean fish in 2014 and into 2015, reaping the benefits of this with substantial reduction in the number of treatments. The group is still in a transitional phase with extraordinarily high treatment costs. The current year is a opptrappingsår for cleaning fish venture and first in 2016, this fully be implemented. The Norwegian krone has depreciated further against major currencies. This dynamic is positive price realization on salmon, but also resulted in increased feed prices. The Board expects per today that withdrawal costs will consist of a level which is above the board and management consider as normal in the coming quarter, albeit with potential for significant reduction during 2016.
The board is based on the market outlook and Group potential cost reductions positive outlook, reads from the report.
For 2015 the group expects today a harvested volume of 181,500 GWT including share of LSG its volume from associated companies.
full report and presentation
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