Bakkafrost shares slide as ISA virus hit farming site

P/F Bakkafrost

27/05/2024 09:28

** Shares of P/F Bakkafrost  BAKKA.OL  fall 2.2%, narrowing
earlier losses of nearly 4%, after the Faroese salmon farmer on
Sunday said ISA virus was confirmed in two pens at its farming
site A-19 Vagur
    ** The group said the full site would be harvested out
within two months with the accelerated harvest reducing harvest
volumes estimate for 2024 with 2,000-3,000 tonnes gutted weight
    ** Carnegie says there is little risk of the virus spreading
thanks to early detection, however, it forecasts an about 4%
decrease in 2024 earnings per share consensus due to harvest
volume loss, weaker price and extra costs 
    ** The incident makes Pareto Securities lower its full year
EBIT estimate for Bakkafrost by about 3% at mid-point and see
scope for 4-5% negative revisions given higher costs in the
short-term

 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))