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Grieg Seafood ASA: Q3 2018 Operational Update |
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With reference to Grieg Seafood's Capital Markets Update in September, the company has experienced gill related diseases in Shetland and algal bloom in British Colombia (BC). During the third quarter an increase in gill related diseases in Shetland and recurring incidents of harmful algal bloom in BC, have resulted in reduced survival rate and higher costs. Consequently, third quarter earnings from the two regions have weakened (total write-down of NOK million 50 in BC and Shetland due to reduced survival rate towards the end of Q3 2018). The Norwegian operations has performed better than expected during the quarter. Biological performance in both Finnmark and Rogaland have been good, and costs continued to decline. In addition, GSF Finnmark got two new locations in Q3, improving capacity utilization in the area. Quarterly earnings in Rogaland are low due to planned low harvest volumes. Preliminary figures for the third quarter 2018 indicates a total harvest volume for Grieg Seafood of 16 940 tonnes and a group EBIT per kilo of NOK 9.43.
* Non-controlling interests For further information, contact: Atle Harald Sandtorv, CFO About Grieg Seafood To learn more, visit www.griegseafood.no. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. |
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