Salmon farmer Bakkafrost's Q1 EBIT rises, lifts 2026 outlook

P/F Bakkafrost

19/05/2026 05:32

Overview

Salmon farmer's Q1 operational EBIT rose yr/yr, driven by strong biological performance

Company reduced Faroese farming and freshwater costs, supported by robust fish health and operational efficiency

Bakkafrost raised 2026 harvest volume and feed production guidance

Outlook

Bakkafrost raises 2026 Faroe Islands harvest guidance to 97,000 tonnes gutted weight

Company expects total 2026 harvest at 117,000 tonnes, with Scotland guidance unchanged at 20,000 tonnes

Bakkafrost increases 2026 feed production guidance to 175,000 tonnes

Result Drivers

FAROESE COST REDUCTIONS - Lower farming and freshwater costs in the Faroe Islands, driven by strong biological performance and operational efficiency

HIGHER HARVEST VOLUMES - Record high harvested volumes and high harvest weights in the Faroe Islands supported results

LOWER SALMON PRICES - Increased global supply led to lower salmon reference prices, partly offsetting operational gains

Company press release: ID:nWkrbhWjS5

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Operational EBIT
DKK 544 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 4 "hold" and 2 "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 11.2% above its May 18 closing price of NOK449.60

The stock recently traded at 15 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.)