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BAKKAo - P/F Bakkafrost News Story

NOK716.6 0.0  0.0%

Last Trade - 06/05/21

Sector
Consumer Defensives
Size
Large Cap
Market Cap £3.65bn
Enterprise Value £3.90bn
Revenue £543.7m
Position in Universe 160th / 1836

Bakkafrost sees salmon supply growth slowing to 2 pct at end of 2018, strong market

Tue 20th February, 2018 7:54am
OSLO, Feb 20 (Reuters) -   
    ** Bakkafrost  BAKKA.OL  CEO Regin Jacobsen sees slowdown in 
salmon supply growth during 2018 
    ** Expects global salmon supply growth rate at the end of 
2018 to slow to around 2 percent 
    ** "Global supply next quarters will be more limited and 
will come down to around 2 percent at the end of this year," 
Jacobsen said while presenting Q4 earnings on Tuesday 
    ** In total for 2018, Bakkafrost expects a supply growth of 
6 pct compared to 2017 
    ** Jacobsen added that "we expect demand growth of at least 
8 pct" 
    ** "We expect a strong market... we are on a high level but 
we expect prices on salmon to be relatively high," Jacobsen said 
    ** More salmon in Q4 resulted in a price drop of 18.14 
Norwegian crowns to 50.16 crowns in Q4 vs Q3, but Bakkafrost's 
earnings beat analysts' forecasts 
    ** CEO said: "We had lower costs in the quarter, high weight 
on the fish and also relatively good achievement on prices" 
 
 (Reporting by Ole Petter Skonnord, editing by Terje Solsvik) 
 ((olepetter.skonnord@thomsonreuters.com; 0047 23 31 65 97;)) 
 
Keywords: BAKKAFROST RESULTS/OUTLOOK
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