Brief: P/F Bakkafrost Reports Operational EBIT Of Dkk 248 Mln For Q1 2020

P/F Bakkafrost

05/05/2020 05:13

May 5 (Reuters) - P/F Bakkafrost  BAKKA.OL :
    * OPERATIONAL EBIT OF DKK 248 MILLION FOR THE FIRST QUARTER
OF
2020
    * GROUP MADE A PROFIT FOR Q1 2020 OF DKK -148.0 MILLION (DKK
212.8
MILLION)
    * DELIVERED A TOTAL OPERATING EBIT OF DKK 248.1 MILLION IN
Q1 2020
    * QTRLY HARVESTED VOLUMES FOR GROUP WERE 17.9 THOUSAND
TONNES
GUTTED WEIGHT
    * IN Q2 2020, GLOBAL HARVEST OF ATLANTIC SALMON IS EXPECTED
TO
INCREASE AROUND 2-4%, COMPARED TO Q2 2019
    * COMBINED FARMING FO AND VAP SEGMENTS MADE AN OPERATIONAL
EBIT OF
DKK 192.1 MILLION
    * ESTIMATED GLOBAL HARVEST OF ATLANTIC SALMON FOR 2020 IS AN
INCREASE OF AROUND 2-4%, COMPARED TO 2019
    * OUTLOOK FOR FARMING SEGMENT IN FAROE ISLANDS IS GOOD, AND
OVERALL OPERATIONAL PERFORMANCE IS VERY GOOD
    * EXPECTS A DECREASE IN PRODUCTION VOLUMES OF FISHMEAL AND
FISH
OIL IN 2020, COMPARED TO 2019
    * LOWER EXPECTED HARVEST VOLUME FOR 2020 IN FAROE ISLANDS TO
50,000 TONNES GUTTED WEIGHT
    * EXPECTS TO RELEASE 15.0 MILLION SMOLTS IN 2020 IN FAROE
ISLANDS,
COMPARED TO 12.7 MILLION SMOLTS IN 2019
    * HAVSBRÚN'S SALES OF FISH FEED IN 2020 ARE EXPECTED TO BE
110,000
TONNES, DEPENDING ON EXTERNAL SALES.
    * EXPECTED HARVEST IN 2020 IN SCOTLAND IS INCREASED TO
39,000
TONNES GUTTED WEIGHT
    * SMOLT RELEASE IN SCOTLAND IS EXPECTED TO BE 10.7 MILLION
SMOLTS
IN 2020, COMPARED TO 12.4 MILLION SMOLTS IN 2019
    * GROUP WAS IMPACTED BY SIGNIFICANT MARKET DISRUPTION FROM
COVID-19 ESPECIALLY TOWARDS END OF QUARTER
    * DUE TO COVID-19 PANDEMIC, BOARD HAS DECIDED TO POSTPONE
DECISION
ON DIVIDEND PAYMENT FOR 2019 UNTIL H1 PRESENTATION ON 25 AUGUST
2020
    * IN Q1 2020,DURING COMING QUARTERS, SALES DISTRIBUTION OF
SALMON
WILL LIKELY BE AFFECTED BY CHANGING MARKET DYNAMICS CAUSED BY
COVID-19

Source text for Eikon:  ID:nWkr9lm6tv 
Further company coverage:  BAKKA.OL 

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