Villa Organic AS forth quarter 2009

Size: px

Start display at page:

Download "Villa Organic AS forth quarter 2009"

Ralph Stephens
5 years ago
Views:

1 Villa Organic AS forth quarter 29 Highlights Forth quarter 29 The fourth quarter was a good quarter for the Villa Group. The EBIT was 12,1 MNOK and net profit before tax 8,8 MNOK The harvested volume in Finnmark was tons. Growth in biomass in Villa Arctic in Finnmark was according to prognosis Lice have not been a major problem for the company. The number of lice in Finnmark is nearly non existence. In Romsdal there have been delicing on one site. The company is successfully using Wrasse to keep the lice under control. Successfully implemented new biological and economical report system The company is still in a build up process both in Finnmark and Romsdal. The licenses in the group have not been fully utilized, hence this give the company significant growth potential in the years to come. The new factory in Finnmark has shown an improvement in operational stability. The cost associated with the operation is reduced in Q4. Financial key figures The operating revenue in Q4 was 119,6 million NOK. EBITDA for the period was 16,3 million NOK and EBIT was 12,1 million NOK. EBIT/kg was NOK 4,5. The company is not adjusting the biological assets according to the IFRS accounting principles.

2 Villa Organic (group) Key Financial figures (1 NOK) Q4 Q3 Q2 Q1 YTD 29 YTD 28 Total Operating Income EBITDA EBIT Profit/loss before tax Harvest Volume (HOG) Finnmark Harvest Volume (HOG) Romsdal Harvest Volume (HOG) Total Balance Sheet: Fixed Assets Current Assets Total Assets Equity Long Term Liabilities Current Liabilities Total Equity and Liabilities Equity Ratio 34 % 3 % Operational Performance In Møre the biomass per December was 266 tons with average weight,65 kg. The biomass in Finnmark reached tons, of which 649 tons was the 27 generation with average weight 5,49 kg. The 28 generation reached 7.46 tons with average weight 3,58 kg. The 29 generation reached tons with average weight,83 kg. Accumulated cost of fish in sea in Finnmark for 27 generation was NOK 17,56 pr kilo and for the 28 generation NOK 18,21 pr kilo. The growth has been strong in the first part of the quarter but declining towards the end. Temperature in sea in Finnmark was by the end of the quarter 3,3C. The strategy to streamline the production and optimize operational and biological performance will continue. The group has established a Bio Security team. The team is actively guiding operational activities within the group. Harvested volume in Q4 was 2987 tons. Expected harvest volume in Q1/21 is abt. 3. tons. We expect low growth of biomass in the first quarter of 21. The biggest growth in biomass is expected in the third and fourth quarters.

3 Sales and Market Outlook The long term BtoB strategy has awarded us with premium prices for Organic and Best Practice Salmon. A large part of the company's expected production in 21 is sold to customers in line with this strategy. Trout has in 29 been sold at spot prices to the Russian market. We expect prices to be solid for salmon and trout in 21 Board of Directors Vikebukt 16th of February 29 - Appendix: o Information about shareholders pr o Quarterly Financial statement for 29 and Balance sheet pr

4 The 1 biggest shareholders at the end of Q4 are as follows; Name: Stock % AKVAINVEST AS ,8 % CENTENNIAL AS ,3 % B & J HOLDING AS ,4 % JEA INVEST AS ,4 % ODIN NORGE ,4 % VILLA GROUP INVEST AS ,9 % NETTFOND AS ,2 % MILLCOM NORGE AS ,9 % OJADA AS ,9 % BENTNESET INVEST AS , % Income Statement Villa Organic AS Operating Income Other Income Total Income Changes in Inventory Cost of goods Wages Other operating costs EBITDA Depreciation EBIT Interest from group entities Other interest Gains on futures VO Gains on futures VS Interest to group companies Other interest Other financial items Net financial items Profit/loss before tax

5 Balance Sheet (1. nok) Assets Equity and Liabilities Intangible assets Licences Share Capital Deferred Tax Asset Share Premium 924 Goodwill 94 Total Restricted Equity Total Intangble Assets 13 6 Property, buildings etc Machinery and Equipment Other Equity Ships, rigs etx Result brought forward Other assets, furniture, tools etc Total Retained Equity Total Fixed Assets Total Equity Investment in associated entities Other investments 23 Long term loans Liabilities Total Financial Fixed Assets Bond 2 Liabilities to financial institutions Total non-current assets Other long term debt, leasing Total Long Term Liabilities Current assets Inventory Current Liabilities Accounts receivables Liabilities to financial institutions Other accruals, Accounts Payables Bank deposits, cash at hand Tax, VAT etc Total Current Assets Other short term debt Total Current Liabilities Total Assets Total Liabilities Total Equty and Liabilities

Villa Organic AS fourth quarter 2012

Notice to shareholders; Villa Organic AS fourth quarter 2012 Highlights fourth quarter 2012 The average prices were approximately at the same level as Q3, but improvement was observed towards the end of