January 5, 2018 / 5:51 PM / a month ago

BRIEF-Norway Royal Salmon to book NOK 55 mln one-off cost due to ISA outbreak

Jan 5 (Reuters) - Norway Royal Salmon Asa:

* ‍HAS RECEIVED CONFIRMATION OF FISH DISEASE ISA (INFECTIOUS SALMON ANAEMIA) AT SITES WHERE THERE WAS A WARNING ABOUT SUSPICION OF FISH DISEASE ISA​

* ‍EXTRACTION OF FISH FROM THESE SITES STARTED IMMEDIATELY AFTER ISA DETECTION​

* ‍IN Q4 OF 2017, NRS HARVESTED 7,300 TONNES IN REGION NORTH AND 1,700 TONNES IN REGION SOUTH, A TOTAL OF 9,000 TONNES, OF WHICH 1,600 TONNES CAME FROM SITES WITH ISA​

* ‍NRS HAS PREVIOUSLY ESTIMATED A HARVEST VOLUME FOR 2018 OF 43,000 TONNES. ACCELERATED HARVEST FROM SITES WITH ISA HAS RESULTED IN ESTIMATED HARVEST VOLUME FOR 2018 BEING ADJUSTED DOWN BY 500 TONNES TO 42,500 TONNES​

* ‍REMAINING BIOMASS FROM SITES WITH ISA IS EXPECTED TO BE HARVESTED IN JANUARY 2018 AND WILL AMOUNT TO APPROXIMATELY 2,000 TONNES​

* ‍EBIT FOR Q4 OF 2017 WILL BE CHARGED WITH A LOSS (COSTS HIGHER THAN CORRESPONDING INCOME) RELATED TO INCIDENT WITH ISA​

* ‍LOSS IS AFFECTED BY HIGH PRODUCTION COSTS DUE TO LOW AVERAGE WEIGHT, HIGH HARVEST AND WELL BOAT COSTS AND COSTS OF CULLING FISH IN A CAGE, AS WELL AS REDUCED PRICE ACHIEVEMENT DUE TO LOW AVERAGE WEIGHT​

* ‍IN ADDITION, CLEANUP COSTS AFTER ISA IS ALLOCATED​

* ‍TOTAL NON-RECURRING COST IN Q4 OF 2017 IS ESTIMATED AT APPROXIMATELY NOK 55 MILLION ($6.84 million) Source text for Eikon: Further company coverage: ($1 = 8.0411 Norwegian crowns) (Reporting By Oslo Newsroom)

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