Bakkafrost slides amid hatchery delays, smolt size concerns

P/F Bakkafrost

06/05/2024 13:03

** Shares in Bakkafrost  BAKKA.OL  fall 4.3% after the
Norwegian salmon farmer posted its Q1 print, as the delay in new
Scottish hatchery facilities shrinks future fish sizes, stirring
investor worries
    ** Bakkafrost has revised down the average size of its
Scotland smolt release from >200g to 165g, and reduced its Faroe
smolt release forecast from 17.8m to 17m
    ** The company said in a statement startup issues at
Bakkafrost's Applecross facility in Scotland impact the pace and
size of this year's smolt release, potentially reaching 200g
only by Q4
    ** "With these delays I think stakeholders will have to push
the timeline for when Scotland Farming will become net positive
on operating EBIT-level," says Handelsbanken analyst Erik
Cederberg 
    ** He adds that despite the positive quarterly results, the
market is unsettled by the future outlook, given the smolt
release revisions and Applecross facility delays
    ** Shares are among worst performers in pan-European 600
index  .STOXX 
    
    

 (Reporting by Jesus Calero)
 ((Jesus.calero@thomsonreuters.com))