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BAKKAo - P/F Bakkafrost News Story

NOK731.2 0.0  0.0%

Last Trade - 07/05/21

Sector
Consumer Defensives
Size
Large Cap
Market Cap £3.53bn
Enterprise Value £3.80bn
Revenue £529.9m
Position in Universe 163rd / 1832

BRIEF-Bakkafrost Q2 EBIT beats forecast, keeps 2015 output prediction

Tue 25th August, 2015 5:00am
OSLO, Aug 25 (Reuters) - Bakkafrost  BAKKA.OL :   
    * Q2 operational ebit dkk 303 million (Reuters poll dkk 260 
million) 
    * Expects To Harvest 49,000-51,000 tonnes in 2015 versus May 
estimate 49,000-51,000 (poll 49,700) 
    * Bakkafrost's forecast for smolt release in 2015 is 10.4 
million pieces 
    * Expected global supply growth in 2015 is around 4-5% and 
2-3% in 2016 
    * Havsbrun's sales of fish feed in 2015 is expected to be at 
73,000-77,000 tonnes, a reduction from previous outlook at 
83,000-87,000 tonnes, as sale of fish feed to external customers 
has been reduced 
    * Improved market balances in the world market for salmon 
products and costs effective production will likely improve the 
financial flexibility going forward. 
    * A high equity ratio with the Group's bank financing and 
the issuance of bonds makes Bakkafrost's financial situation 
strong. This enables Bakkafrost to carry out its investment 
plans to further focus on strengthening the Group, M&A's, 
organic growth opportunities and fulfil its dividend policy in 
the future 
 
Source text for Eikon:  ID:  
Further company coverage: [ ] 
 
 (Reporting By Terje Solsvik) 
 ((terje.solsvik@thomsonreuters.com;))
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