February 15, 2018 / 5:45 AM / 4 days ago

BRIEF-Salmar Q4 beats forecast, raises dividend more than expected

Feb 15 (Reuters) - Salmar Asa:

* SALMAR Q4 EBIT BEFORE ADJUSTMENTS NOK ‍707.2​ MILLION (REUTERS POLL NOK 693 MILLION)

* SALMAR Q4 REVENUES NOK ‍2.8​ BILLION (REUTERS POLL 2.64 BILLION)

* ‍BASED ON FINANCIAL RESULTS FOR 2017, SALMAR‘S BOARD OF DIRECTORS IS PROPOSING A DIVIDEND OF NOK 19 PER SHARE (REUTERS POLL NOK 12.7) VS YEAR-AGO NOK 12/SHARE​

* SALMAR EXPECTS TO HARVEST ‍143,000​ TONNES IN NORWAY IN 2018 VERSUS PREVIOUS GUIDANCE OF 143,000 TONNES (REUTERS POLL 143,000 TONNES)

* ‍NORSKOTT HAVBRUK (SCOTTISH SEAFARMS) EXPECTS TO HARVEST APPROX. 26,000 TONNES IN 2018, WHILE ARNARLAX EXPECTS TO HARVEST SOME 11,000 TONNES​

* ‍BASED ON ESTIMATES OF STANDING BIOMASS AT CLOSE OF 2017, GLOBAL SUPPLY OF ATLANTIC SALMON IS EXPECTED TO INCREASE BY 6 PER CENT IN 2018​

* ‍COMBINED WITH EXPECTATIONS OF CONTINUED STRONG AND STABLE DEMAND, THIS INDICATES A BALANCED SALMON MARKET, WITH OUTLOOK FOR CONTINUED STRONG EARNINGS IN TIME AHEAD​

* ‍HARVESTED 39,900 TONNES IN QUARTER​

* ‍FISH FARMING NORTHERN NORWAY SEGMENT HAS EXPERIENCED A RISE IN LICE NUMBERS IN CERTAIN AREAS​

* ‍INCREASED DELOUSING TREATMENTS NEEDED BY THESE FISH WILL ALSO PUSH UP COSTS IN COMING QUARTERS​

* ‍WELL EQUIPPED TO DEAL WITH SEGMENT‘S LICE SITUATION IN FUTURE​

* ‍AS AT MID-FEBRUARY, CONTRACT RATE STANDS AT AROUND 48 PER CENT FOR Q1 2018 AND AT AROUND 26 PER CENT FOR 2018 AS A WHOLE​

* OCEAN FARM VOLUMES TO REACH THE MARKET IN 2H 2018

* 2018 CAPEX ESTIMATED TO NOK 356 MILLION‍​ Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

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