Morpol ASA : Morpol ASA : Strong sales growth continues

           Morpol ASA : Morpol ASA : Strong sales growth continues

Press Release
Morpol ASA - Strong sales growth continues

Oslo, 21^st August 2013: Morpol ASA (OSE: MORPOL)

Morpol's consolidated operating revenue in Q2 2013 amounted to EUR 148.3
million, which was higher by EUR 35.2 million in comparison to the same
period last year.

Operating EBIT for the  quarter amounted to EUR  (2.0) million, which was  EUR 
8.2 million lower versus the same period last year and EUR 3.2 million  higher 
versus Q1 2013. 

The group's net interest bearing debt (NIBD) was EUR200.3 million at the  end 
of Q2 2013 (EUR 13.1 million increase  compared to 2012 year end). The  equity 
ratio was 38.4%  at quarter end  compared to  42.5% at the  quarter end  prior 

Operating revenue in processing was EUR 118.7 million compared to EUR 90.4
million prior year. Higher unit sales prices to customers impacted revenue.
Volume excluding contract processing was up strongly in comparison to Q2 2012.

Operating EBIT for processing  in Q22013 was EUR(12.1)  million vs. EUR  5.7 
million  in  the  previous  year.   Raw  material  purchase  unit  price   was 
significantly higher in comparison to the previous year.

Salmon farming

Operating revenue in salmon farming in Q2 2013 was EUR42.7 million (EUR  37.1 
million in  same  period  last  year).  Volumes sold  were  lower  by  10%  in 
comparison to  the same  period  last year.  Of  the total  revenue,  EUR12.6 
million was sold internally for further processing and sales.

Salmon farming operating EBIT in Q2 2013 was EUR10.0 million (EUR 2.6 million
same period last  year), resulting in  an operating EBIT  margin of 23.5%  (Q2 
2012: 7.1%).

Cash Flow

The consolidated cash  flow for  Q2 2013  was an  ouflow of  EUR 15.1  million 
comprising of  cash  inflow from  operating  activities EUR  2.3  miliion  and 
outflows from financing activities of EUR 7.9 milion and investing  activities 
EUR 9.5 milion.

During the quarter,  the Morpol  Group invested EUR9.6  million in  property, 
plant and equipment and intangible assets.

For further information, please contact:
Piotr Kapinos, Chief Financial Officer,, phone
+48512400 151

About Morpol
The Morpol Group is engaged in salmon processing as well as sale and
distribution of finished salmon products.
The Morpol Group's main products are: cold and hot smoked salmon, gravadlax,
fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and
salmon specialties. The Morpol Group also has salmon farming activities in
Scotland since 2010 and Norway since 2011. The Morpol Group had revenue of
approximately EUR 502.7 million in 2012.

Founded in 1996 in Ustka  on the Baltic coast  of Poland, the company  employs 
over 4 000  people in  nine countries.  Morpol Group  is the  world leader  in 
smoked salmon. The company has achieved its world leading position through the
efficiency of processing activities, a  constant focus on product quality  and 
service provided to retail and food service customers. Morpol serves customers
across Europe, Japan and the United States.
For more information, please visit our web site at

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Q2 2013 Presentation
Press release
Q2 2013 Report


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information contained therein.

Source: Morpol ASA via Thomson Reuters ONE
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