Brief: Grieg Seafood ASA Posts Qtrly Harvest Volume Of 23,910 Tonnes

Grieg Seafood ASA

18/08/2020 05:08

Aug 18 (Reuters) - Grieg Seafood ASA  GRIA.OL :
    * QTRLY HARVEST VOLUME OF 23 910 TONNES, UP 10% FROM Q2 2019
    * TOTAL REVENUES DURING THE QUARTER AMOUNTED TO NOK 1.4
BILLION,
DOWN FROM NOK 1.5 BILLION THE SECOND QUARTER OF 2019
    * GRIEG SEAFOOD - SALMON MARKET WILL CONTINUE TO BE IMPACTED
BY
COVID-19 SITUATION ADDING UNCERTAINTY, PUTTING PRESSURE ON
PRICES IN SHORT TERM
    * GRIEG SEAFOOD SEE LIMITED IMPACT ON OPERATIONS DUE TO
COVID-19
SITUATION
    * QTRLY GROUP’S EBIT BEFORE FAIR VALUE ADJUSTMENT OF
BIOLOGICAL
ASSETS ENDED AT NOK 3 MILLION
    * CONTRACT SHARE FOR NORWEGIAN OPERATIONS WILL INCREASE IN
SECOND
HALF OF 2020 WITH PRICES WELL ABOVE CURRENT SPOT PRICES
    * IN THE THIRD QUARTER CO EXPECTED HARVEST VOLUME IS 21 400
TONNES
    * GRIEG- DUE TO LIMITED GROWTH, EXPECTED SLUGGISH MARKET
PRICES,
CO TO POSTPONE SOME HARVEST TO 2021, REDUCING 2020 EXPECTED
VOLUME TO 95000 TONNES
    * GRIEG SEAFOOD MAINTAINS LONG-TERM HARVEST VOLUME TARGET OF
150
000 BY 2025

Source text for Eikon:  ID:nGNE7zJqjS 
Further company coverage:  GRIA.OL 

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