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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 Q4 core profit, 2017 dividend beat forecast, net earnings slip

Tue 20th February, 2018 5:00am
Feb 20 (Reuters) - Bakkafrost  BAKKA.OL : 
    * BAKKAFROST Q4 OPERATIONAL EBIT DKK 331.2 MILLION 
(REUTERS POLL 
DKK 216 MILLION) 
    * BAKKAFROST PROPOSES DIVIDEND OF DKK 10.50 PER SHARE FOR 
2017 
(REUTERS POLL DKK 9.2) 
    * FAIR VALUE ADJUSTMENT DKK -358.7 MILLION IN Q4 
    * BAKKAFROST Q4 NET LOSS DKK 21.9 MILLION (REUTERS POLL 
PROFIT DKK 
160 MILLION) 
    * BAKKAFROST EXPECTS TO HARVEST 51,000 TONNES IN 2018 
(REUTERS 
POLL 50,900) VERSUS NOVEMBER FORECAST 51,000 TONNES 
    * EXPECTS TO RELEASE 13.9 MILLION SMOLTS IN 2018, COMPARED 
WITH 
9.9 MILLION SMOLTS IN 2017 AND 11.7 MILLION SMOLTS RELEASED IN 
2016 
    * AIMS AT BEING SELF-SUPPLIED WITH 500 GRAMS SMOLTS IN 
2020 
    * HAS SIGNED CONTRACTS COVERING AROUND 14% OF EXPECTED 
HARVESTED 
VOLUMES FOR 2018 
    * CONTRACT COVERAGE IS REDUCED, COMPARED TO PREVIOUS YEAR, 
BECAUSE SOME CONTRACTS WERE NOT RENEWED IN Q4 2017 
    * LONG-TERM STRATEGY IS TO SELL AROUND 40-50% OF HARVESTED 
VOLUMES OF SALMON AS VAP PRODUCTS AT FIXED PRICE CONTRACTS 
    * HAVSBRÚN'S SALES OF FISH FEED IN 2018 ARE EXPECTED TO BE 
AT 
85,000 TONNES, DEPENDING ON EXTERNAL SALES 
    * TO FURTHER FOCUS ON STRENGTHENING GROUP, M&A'S, ORGANIC 
GROWTH 
OPPORTUNITIES AND TO FULFIL ITS DIVIDEND POLICY 
    * COMBINED FARMING AND VAP SEGMENTS MADE AN OPERATIONAL 
EBIT OF 
DKK 265.4 MILLION 
    * BAKKAFROST Q4 REVENUES DKK 906.1 MILLION (REUTERS POLL 
DKK 686 
MILLION) 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nWkr1Kpvxs 
Further company coverage:  BAKKA.OL  
 
 (Reporting By Terje Solsvik) 
 ((terje.solsvik@thomsonreuters.com;))
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