Earnings driven by operational improvements
|Q4 2017||Q4 2016||FY 2017||FY 2016|
|Net operating revenues||39 895||27 209||150 946||109 921|
|EBITDA before fair value adjustments||8 650||1 175||38 669||8 939|
|EBIT before fair value adjustments||6 542||(994)||30 476||672|
|Equity ratio||59 %||55 %||59 %||55 %|
|NIBD||38 519||42 904||38 519||42 904|
|Harvested volume||6 874||5 733||25 272||24 342|
|EBIT/kg before fair value adjustments||0.95||(0.17)||1.21||0.03|
Status and outlook
Craig Anderson, Chief Executive Officer at The Scottish Salmon Company Limited, said:
"We remain loyal to our long-term strategy to grow our business, and to offer premium quality products produced in a sustainable way. Harvest volumes increase steadily and Q4 volumes were the highest in more than two years."
"We remain dedicated to our ambitions to improve operational efficiency by continuously developing our value-chain infrastructure and teaming up with leading partners to further develop our broodstock programme."
"We continue to pursue our ambitions to expand exposure to overseas markets. Introduction of our premium brands has been well received in both American and Far East markets."
"Demand for Scottish salmon as a premium food product continues to be strong and we aim to capitalise on this through continuing our export drive of our premium brands."
For more information, please contact:
Su Cox, Investor Relations
The Scottish Salmon Company Limited is a subsidiary of The Scottish Salmon Company PLC, which is listed on the Oslo Børs stock exchange.
The Scottish Salmon Company is the leading producer of premium salmon with operations only in Scotland. The Company is engaged in all stages of the value chain from smolt production through freshwater and marine farming to harvesting and processing, as well as sales and marketing activity. It is dedicated to producing the highest quality Scottish salmon.
All of The Scottish Salmon Company's farms and processing facilities are audited and approved by the internationally acclaimed GLOBALG.A.P. accreditation scheme, which includes excellence in fish husbandry and animal welfare.
The Scottish Salmon Company supports the development of health and wellbeing in the local communities in which staff work and live. Around 500 people are employed by the Company, approximately 230 of whom are in the Hebrides with its head office in Edinburgh.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.