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Marine Farms ASA - Record results for 2005 |
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Operating profit (EBIT) before provisions ended at NOK 49.5 mill, which is the best result ever for the group and NOK 53.5 mill better than the previous year. The result after tax was NOK 30.2 mill, an improvement of NOK 73.3 mill compared to 2004.
- 2005 has been a good year for Marine Farms ASA. Both its operations in the UK and in Spain are among the most profitable in their respective markets.
- The Group’s financial situation pr. 31.12 2005 has improved considerably compared to the year before. Equity per 31.12.2005 was NOK 176 (31.5% equity ratio), an improvement of NOK 76 mill (13.7%) compared to 2004. Net interest-bearing debt per 31.12.2005 was NOK 221 mill, a decrease of NOK 94 mill compared to 2004.
- The Board of Directors of Marine Farms ASA has decided to apply for a stock listing on the Oslo Stock Exchange. Parallel to this process, the Board of Directors of Marine Farms ASA will continuously evaluate possible acquisitions or other strategic initiatives that may increase shareholders value going forward.
- Marine Farms ASA has been involved in the fish farming business since 1976 and has considerable knowledge of all aspects of fish farming, from broodfish to the finished product. The operation today mainly consists of salmon farming in the U.K. and seabass / seabream in Spain. These activities are run through the 100% owned companies Lakeland (U.K.) and Culmarex (Spain), both being fully integrated companies. In addition, Marine Farms ASA is engaged in farming of the fast growing marine species cobia in America (Florida and Belize) and in Vietnam, as well as a cod hatchery in the U.K. Revenue for 2005 ended at approximately NOK 450 mill and the company had some 260 employees at the end of the year.
We refer to the consolidated report for 2005.
For more information, please contact Mr. Paul Angell-Hansen:
Tel: +47 55 90 44 70
e-mail:
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MAFA_-_Consolidated_report_for_2005.pdf (