Re: spółka zapomniana

Morpol ASA - Strong start to the year

Oslo, 23rd May 2012: Morpol ASA (OSE: MORPOL


Morpol's consolidated operating revenue in Q1 2012 amounted to EUR 119.2 million, which was EUR 7.9 million lower than in the same period last year. The decrease was mainly due to a drop in processing revenues in Q1 2012 by EUR 5.5 million (5%) due to lack of revenues from contract processing. Sales volumes excluding contract processing were slightly lower in comparison to Q1 2011. In addition external salmon farming revenues in Q1 2012 was lower by EUR 2.8 million (12%) due to increase of internal sales being eliminated at the consolidated level. Despite lower salmon raw material price total revenues in the salmon farming segment were stable due to a 50% increase in volumes sold in comparison to Q1 2011.

Operating EBIT for the quarter amounted to EUR 9.7 million (8% margin), which was an EUR 9.6 million improvement versus the same period last year.

The group's net interest bearing debt (NIBD) was EUR 150.6 million at the end of Q1 2012 (EUR 22.1 million decrease compared to end of 2011).