Cermaq continues leadership in transparent sustainability reporting

The integrated report for 2014 was published today, demonstrating Cermaq’s continued engagement in transparency of the salmon farming industry. In addition to financial information, the report provides a wealth of performance indicators and describes how the company addresses sustainability issues.

One of the world’s largest farmers of salmon and trout published its integrated annual and sustainability report today at www.report2014.cermaq.com.

Cermaq’s operating result for 2014 was NOK 428 million, before fair value adjustment of biomass and adjusted for sales gains, based on operating revenue of NOK 5 616 million. The EBIT per kg fish sold in 2014 was NOK 3.8.

- Cermaq Norway achieved its best operating result ever, while Cermaq Chile’s results were weakened by reduced prices in its main markets and a demanding biological situation. The Canadian operation performed well despite reduced market prices in its main market. Cermaq has throughout the year met its growth ambitions both with respect to new “green licenses” in Norway and additional new licences in the promising Region XII in Chile. Overall, the operating result was impacted Russian trade measures and declining market prices throughout the second half of the year, says Jon Hindar, CEO of Cermaq Group AS.

The integrated 2014 report includes detailed information about Cermaq’s performance also on aspects such as occupational health and safety, biodiversity, fish health, antibiotic and sea lice treatment, fish feed, energy, and compliance with regulation. The sustainability section of the integrated report has been audited by EY, Cermaq’s financial auditor in all the operating regions.

Whereas encouraging progress was made in Chile with respect to the reduction of Caligus (sea-lice), the SRS disease continues to be a great concern.

- Not only does SRS cause high mortality for Atlantic salmon and trout, but it also is by far the main cause of the increased use of antibiotics in Chile. Therefore the development of efficient vaccines against SRS remains a high priority going forward, underlines Jon Hindar.

- Cermaq believes that open and relevant information will contribute to constructive relations to our stakeholders and to the positive development of the industry. Fish farming is expected to play an increasingly more important role in global food production going forward, and the industry must also demonstrate its commitment to sustainable development to earn trust and recognition, concludes Jon Hindar.

Follow this link to view Cermaq's integrated annual and sustainability report for 2014