Marine Harvest's 2012 Q4 earnings might have taken a hit, but the company's balance sheet will look significantly different in a year's time, according to an analyst.
"The operations were dominated by poor results in all regions except Norway and the Faroe Islands, and also VAP continue to deliver a soft result," said Kolbjorn Giskeodegard, senior analyst at Nordea Markets.
"Focusing on 2013, they increased capital expenditure (capex) to NOK 1.65 billion (€222.2 million/$300 million), which is 10 percent higher than our estimates.
