Higher than expected volumes from Mowi's Chilean operations drove global harvest volumes up for the company in the fourth quarter of 2018.
Apparently a surprise for the company, production at its Chilean farms increased by 17 percent year on year to 170,600 metric tons on improved biology.
The average harvest weight was record high, representing 28 percent of the company's total harvests by weight.
Prices improved for the region, up 6.8 percent to $5.05 (€4.50) or NOK 42.73 per kilo, putting the company's Chilean product 6 percent above the market average for all countries of origin.
It also contributed to an operational EBIT of €21.5 million ($24.3 million), or €1.25 ($1.40) per kilo, up 21 percent year on year.
The effect of increased prices more than offset a 5 percent increase in costs from the same quarter in 2017. These cost increases were mainly due to lower stocking density in several sites in Region XI as a consequence of previously announced regulatory changes, said the company.
Sea lice levels at the end of the fourth quarter decreased compared with last year and reported mortality caused by Salmon Rickettsial Septicaemia (SRS) in the fourth quarter was at a lower level than in the same period last year, mainly due to the company's new vaccination strategy, it said.
This improvement is also reflected in the significant reduction in use of antibiotics in Mowi Chile in 2018, said the company.
North America remains the most important market for salmon of Chilean origin, but Russian consumption continued to grow as exports of Chilean frozen salmon increased.
Increased supply and new sales channels and regions also drove strong continued growth in Brazil.
