Bakkafrost: Bottom of STOXX after pandemic hits Q4

P/F Bakkafrost

23/02/2021 08:43

** Shares in Oslo-listed salmon farmer Bakkafrost  BAKKA.OL 
slump over 8% after Q4 results impacted by COVID-19    
    ** Posts Q4 EBIT falling 77% to DKK 69.2 million ($11.31
million) and a bottom line loss of DKK 37.7 million versus a
profit of DKK 219.5 million reported a year ago
    ** "This has been yet another quarter marked by the COVID-19
pandemic which has depressed the global market for salmon,"
Bakkafrost CEO says
    ** The company proposes a dividend of DKK 3.65 per share,
down from DKK 8.31 paid for 2019
    ** Commenting on 2021, the company flags global harvest of
salmon is expected to be up around 2-3% with market supply
rising 5-6% year-on-year due to the effects of inventory
movements
    ** Bakkafrost stock, which is on track on its worst day in
nearly a year, is among worst performers on pan-European STOXX
600  .STOXX  and Oslo blue-chip index


($1 = 6.1164 Danish crowns)

 ((marta.frackowiak@thomsonreuters.com))