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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 lags forecast, keeps 2016 output view

Tue 23rd August, 2016 5:00am
23 aug (Reuters) - P/F Bakkafrost  BAKKA.OL  
    * q2 operational ebit dkk 307.1 million (Reuters poll dkk 
325 million) 
    * The high salmon spot prices affected the VAP segment 
negatively, and the VAP segment made an operational EBIT of DKK 
-68.4 million 
    * Harvested volumes in Q2 were 13.0 thousand tonnes gutted 
weight 
    * Together with bakkafrost's unchanged expected harvest 
(excluding. Faroe farming) of 48,000 tonnes, total harvest for 
bakkafrost group in 2016 will be 49,000 tonnes 
    * Forecasts a release of 10.4 million smolts in 2016, 
compared with 11.3 million smolts released in 2015 and 10.4 
million smolts released in 2014 
    * Global supply of atlantic salmon is expected to decrease 
by approximately 4% in volume during 2016, compared to 2015. 
Decrease is expected to be 8-9% in second half of 2016 
    * Has signed contracts covering around 79% of vap capacity 
for rest of 2016 
    * This corresponds to around 39% of expected harvested 
volumes for rest of 2016. Remaining 21% are expected to be 
committed during period 
    * Bakkafrost has already signed contracts covering 
approximately 50% of vap capacity for 2017 
    * Havsbrun's sales of fish feed in 2016 are expected to be 
at 80,000 tonnes 
 
Source text for Eikon:  ID:nObiTbgnxa  
Further company coverage:  BAKKA.OL  
 
 (Reporting By Terje Solsvik) 
 ((terje.solsvik@thomsonreuters.com;))
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