The Q3 2009 results show that the operations in France and Denmark increased their sales of fresh products. However, prices for cod and haddock were lower than in the corresponding quarter of last year. Consumption of fresh cod in France, Europe’s biggest market for this product, increased by 52 percent up to mid-August, but consumer prices fell by 11 percent.
The company has registered its operating revenues at NOK 609 million for the third quarter, compared with NOK 586 million in the same period of 2008. This increase stemmed mainly from increased activity in the Norwegian and French business segments. Aker Seafoods achieved earnings before interest, taxes, depreciation and amortisation (EBITDA) of NOK 36 million for the third quarter, compared with a loss of NOK 13 million in the same period of 2008.
CEO Yngve Myhre said that this signals a positive trend after a difficult period for the whitefish industry. The harvesting segment is showing a positive development and sales were somewhat higher in the third quarter compared with the same period of last year. It is reported that in Q3 the harvesting volumes increased, but it has more than 30 percent of the company cod quota left for the fourth quarter.
Aker Seafoods harvested a relatively larger proportion of haddock in the third quarter than in the same period of 2008. The processing Norway segment was affected during the period by limited the availability of raw material, particularly from external suppliers. These shortages arose even though substantial amounts of fish remain under the 2009 quotas.
