Distribution of company announcements to the professional platforms, finance portals and syndication of important corporate news to a wide variety of news aggregators and financial news systems.
Cermaq ASA Cermaq issued trading statement about sanitary problems in Chile. Cermaq has today issued a trading statement presenting reduced results in its fish farming operations in Chile due to sanitary problems.
- The situation in Chile is challenging and it is important to Cermaq to keep the market updated on the developments, says CEO Geir Isaksen.
The trading statement is based on several challenges related to the sanitary conditions for fish farming in Chile. High levels of sea lice infestation and disease, like ISA, has increased mortality rates and reduced averages slaughter weight. This has lead to an increased cost of production, and the costs in Q2 2008 were 2.5 NOK higher pr kg than in Q1. As the sales prices for small size salmon is lower than for larger sizes, the Chilean export has not benefitted from the increase in market prices for large salmon in the U.S.
In addition to the reduced production and sales results in Q2, Cermaq has decided to accelerate the harvesting of three sites where there are outbreaks of disease. Consequently a net realisable value provision of NOK 38 million will be taken in the financial results for the second quarter.
-We have a series of measures to improve the sanitary situation in Chile and the accelerated harvesting of these sites is a part of this, says Geir Isaksen.
The trading statement reduces the full year production volume guidance by 3k tonnes to 50k tonnes. Due to the biological conditions for production in Chile expected sales volumes remain uncertain for the rest of the year.
