Faroe Islands' Bakkafrost Q2 operational EBIT jumps on higher harvest volumes
Faroe Islands' Bakkafrost Q2 operational EBIT jumps on higher harvest volumes
Overview
Faroe Islands salmon farmer's Q2 operational EBIT rose sharply, driven by higher harvest volumes
Company's Scotland operations remained impacted by low harvest volumes and biological challenges
Group maintains 2026 harvest guidance of 117,000 tonnes
Outlook
Bakkafrost maintains 2026 harvest guidance of 117,000 tonnes gutted weight
Company expects tighter global salmon supply in H2 2026, improving market balance
Bakkafrost raises expected 2026 feed production to around 175,000 tonnes
Result Drivers
FAROE ISLANDS PERFORMANCE - Strong biological performance, higher harvest volumes and lower farming costs in Faroe Islands drove Q2 results
SCOTLAND CHALLENGES - Low harvest volumes and biological issues in one batch of externally sourced smolt weighed on Scottish results
FEED COST INFLATION - Exceptional inflation in feed raw material costs required adjustments to sourcing and feed formulations
Company press release: ID:nWkr6v5t2y
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Operational EBIT |
| DKK 273 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 NOK500.00, about 0.4% above its August 28 closing price of NOK498.00
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 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.)