Operational developments 2009

The revenue in Fish Feed decreased by 4.2% to EUR 1,120.4 million compared with 2008 as a result of a -3.3% lower volume and a -1.7% foreign exchange effect. The impact of prices was limited (0.7%), mainly due to passing on higher raw material costs. The contribution from acquisitions was small (0.1%). A strong volume growth in Norway is largely compensating the decline in volumes in Chile, where there is a reduced demand for fish feed as a consequence of the ISA disease in salmon farming.
EBITA decreased by -1.9% to EUR 66.4 million (2008: 67.7 million), mainly due to lower feed volumes in Chile. In Chile, Skretting mothballed two of its three fish feed plants to optimise the effective utilisation of the production capacity and operating costs. Fish feed for farmed species other than salmon performed in line with last year. In September, Skretting opened a new production plant in Turkey for the production of fish feed for freshwater trout, sea bass and sea bream.
Skretting has succeeded in reducing the inclusion of fishmeal in salmon grower diets to 15% from 40% five years ago. This will be implemented in Skretting feed formulations starting from 2010. Skretting aims to achieve a 0% fishmeal inclusion further on, to reduce our dependecy on marine raw materials. Skretting has also developed new diets to prevent lice infection as a part of the Skretting proactive nutrition concept. The new feed helps the fish resist infection by lice. Furthermore, Skretting has reintroduced medicated lice feed which contains Teflubenzuron. Skretting’s SEA programme coordinates sustainability actions in Skretting. SEA stands for Sustainable Economic Aquafeeds and is Skretting’s commitment for improving the sustainability of aquaculture. In 2009 the SEA programme was launced in Chile and Italy, after a successful implementation in the UK and Norway.

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