Marine Farms continues to do well. In 3rd quarter 2007, sales increased by 18% compared to the same period last year. The group's salmon operations obtained an EBIT/kg gwt sold fish of NOK 8.5 in the 3rd quarter 2007. The group's seabass/seabream operations obtained an EBIT/kg sold fish of NOK 10.3 in the same period. The group's financial position is strong. At the end of September 2007, equity amounted to NOK 468 mill (47.8% equity ratio). The group will have approximately NOK 350 mill in free cash and available credit facilities.

• In third quarter 2007, EBIT before fair value was NOK 23.5 mill, compared to NOK 33.9 mill in 2006. The result for 2007 includes NOK -8.2 mill in provisions (NOK -1.4 mill in 2006).
  
• For the first 9 months of 2007, EBIT before fair value was NOK 65.1 mill, compared to NOK 82.0 mill in 2006. The result for 2007 includes NOK -22.9 mill in provisions (NOK -5.1 mill in 2006).
  
• The salmon operations in Lakeland, a 100% owned subsidiary of Marine Farms ASA, obtained an EBIT/kg gwt sold salmon of NOK 8.5 in the 3rd quarter 2007. For the first 9 months the figure was NOK 9.6/kg gwt sold fish (NOK 10.6 in 2006). Volumes will increase from 9,700 tonnes gwt salmon in 2007 to approximately 12.300 tonnes gwt in 2008.
  
• The seabass/seabream operations in Culmarex, a 100% owned subsidiary of Marine Farms ASA, obtained an EBIT/kg sold seabass/seabream of NOK 10.3 in 3rd quarter 2007. For the first 9 months the figures was NOK 10.2/kg sold fish (NOK 11.2 in 2006). Volumes will increase from 4,900 tonnes seabass/seabream in 2007 to approximately 6,000 tonnes in 2008.
  
• The cobia operation in Belize continues to develop according to plan.
  
• The group's financial position is strong. At the end of September 2007, equity amounted to NOK 468 mill (47.8% equity ratio). Net interest-bearing amounted to NOK 243 mill.
  
• With the new DnB NOR corporate lending facility in place, the group will have approximately NOK 350 mill in free cash and available credit facilities. The funds will be used to finance significant organic growth over the next few years, especially in seabass/seabream and in cobia. 

Marine Farms ASA combines farming of salmon with profitable farming of marine species. In addition the Company is exploiting opportunities within new marine species such as cobia. Over the past few years, the company has acquired new businesses both in the UK and in Spain and the company will continue to look for attractive acquisition opportunities going forward. In addition, the company has significant room for organic growth. The focus on bigger and more efficient business units continues and the group is well positioned for further growth.

For further information, please contact Bjørn Myrseth or Pål Angell-Hansen:
Tel: +47 55 90 44 70
e-mail: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it  or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Web: www.marinefarms.no

 MAFA - 3Q 2007 Report 377.34 Kb

 MAFA - 3Q 2007 Presentation 203.63 Kb