HAVFISK ASA (Ålesund, 7 May 2015) HAVFISK achieved operating revenues of NOK 247 million in the first quarter 2015, which is NOK 33 million higher than the same period in 2014. EBITDA came to NOK 90 million in the first quarter 2015, an increase of NOK 22 million compared with the first quarter in 2014. HAVFISKs Board of Directors has decided to pay dividends of NOK 0,75 per share.
Income per operating day is 22 per cent higher in the first quarter 2015 compared with the corresponding period last year. This is mainly due to higher prices. In the quarter less cod and haddock have been fished, but the volume of saithe and other species have increased, compared with the first quarter in 2014.
-We are satisfied with the operations in the first quarter. Especially the saithe fishery has been better than previous years, says CEO Webjørn Barstad.
In the quarter the achieved average price for all harvested volume increased by 31 percent compared with the first quarter in 2014.
-The positive price trend has continued also in the first quarter. Prices have increased for most species, says Barstad.
Operating revenues for HAVFISK came to NOK 247 million in the first quarter 2015, against NOK 214 million in the corresponding period in 2014. The increase in revenues is mainly due to higher prices. EBITDA came to NOK 90 million against NOK 68 million in the first quarter 2014. The EBITDA margin was 36 per cent in the first quarter 2015 compared to 32 per cent in the same period in 2014. EBIT in the first quarter 2015 came to NOK 59 million against NOK 38 million in the same period in 2014. The profit before tax was NOK 45 million for the quarter, compared with NOK 15 million in the first quarter of 2014.
Judgement in the Glitnir case fell on 12 March 2015, we refer to stock exchange release the same day. The court ruled that HAVFISK had the right to cancel the agreement in question in 2008. Glitnir's entire claim against HAVFISK was dismissed. The decision of the court is final.
On the ordinary AGM 10 April 2015 the Board was given an authorization to pay dividend based on the annual accounts for 2014. On 6 May 2015, the board decided to pay a dividend of NOK 0.75 per share for 2014. The share is listed ex. dividend on 8 May.
-The company's ambition over time is to give its shareholders a good, stable return in the form of both an increase in share price and the payment of dividend, says Webjørn Barstad.
HAVFISK's available liquidity, including drawing rights, totalled NOK 210 million at the end of the first quarter of 2015, compared with NOK 233 million at the end of the fourth quarter of 2014.
Net interest-bearing debt was NOK 929 million at the end of the first quarter 2015. This is NOK 4 million higher than the end of the last quarter.
HAVFISK had a total equity of NOK 916 million by the end of the first quarter 2015, corresponding 36.2 per cent.
-HAVFISK has a good quota basis for 2015 and has used the first quarter to prioritize fishing for saithe. Only 19 per cent of the group's cod quota for 2015 was fished in the first quarter. This gives a good, stable basis for operation for the rest of the year, says CEO Webjørn Barstad.
For further information, please contact:
Webjørn Barstad, CEO +47 70 11 86 00
Eldar Farstad, CFO +47 70 11 86 00
HAVFISK ASA is a fishing company that operates 10 trawlers and has 29.6 quotas for cod trawling. HAVFISK ASA`s operating revenue in 2014 was NOK 1 049 million and the company has 390 employees. For further information please visit www.havfisk.no
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
|
distributed by
|
