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Cermaq ASA (CEQ): Financial impact on biological incidents in Mainstream Canada and Norway


October 4, 2012 - London

With reference to the Oslo Stock Exchange notifications 31st July 2012, 8th August 2012 and 23rd August 2012, the impact for the third quarter 2012 reporting for these incidents is now concluded:

The IHN outbreak in the site Millar, Canada, influencing 1 million fish at an average weight of 0.4kg, was reported 31st of July and 8th of August 2012. Although a request for financial compensation has been filed, Cermaq has not been able to obtain virtual certainty for such compensation prior to closing of the quarter. A one-off cost of NOK 31 million will therefore be charged the group accounts in the 3rd quarter 2012 reporting. The segment reporting for Mainstream Canada will not include this provision.

The Pancreas disease issue (PD) in Finnmark, influencing 740,000 fish at an average weight of 0.75 kg was reported 23rd August 2012. A total one-off cost of NOK 20 mill will be charged the group accounts in the 3rd quarter 2012 reporting. The segment reporting for Mainstream Norway will not include this provision.

In addition to the above mentioned incidents, Mainstream Canada has during third quarter experienced a high level of algae blooms with increased mortality that will result in a charge of approximately NOK 5 million in third quarter 2012. This provision will be included in the segment reporting for Mainstream Canada.

For further information, please contact
CFO Tore Valderhaug, Telephone: +47 99 56 09 25.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Cermaq ASA via Thomson Reuters ONE

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