Fish farmer Bakkafrost Q3 operational EBIT rises on FOF segment growth
Fish farmer Bakkafrost Q3 operational EBIT rises on FOF segment growth
Overview
Faroe Islands salmon farmer's Q3 operational EBIT rose sharply yr/yr to DKK 128 mln
Faroe Islands segment saw higher revenue and EBIT; Scotland remained loss-making but showed operational progress
FOF segment operational EBITDA more than doubled from last year
Outlook
Bakkafrost raises 2026 Faroe Islands harvest guidance to 97,000 tonnes gutted weight
Company expects total 2027 harvest of 125,000 tonnes gutted weight, up from 117,000 tonnes in 2026
Bakkafrost forecasts higher fishmeal and fish oil production and external sales in 2027
Result Drivers
FAROESE BIOLOGY - Co said strong biological performance in Faroe Islands drove harvest volumes up 24% yr-to-date
FOF SEGMENT - Co said FOF segment more than doubled operational EBITDA, supported by feed optimisation and flexible sourcing
SCOTLAND TRANSITION - Co said Scottish operations remain affected by low harvest volumes, small harvest weights and high unit costs, but large-smolt strategy is showing progress
Company press release: ID:nWkr8t6PSX
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Operational EBIT |
| DKK 128 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the fishing & farming peer group is "buy"
Wall Street's median 12-month price target for P/F Bakkafrost is NOK502.50, about 10.6% above its October 30 closing price of NOK454.20
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 14 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)