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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 £3.61bn
Enterprise Value £3.88bn
Revenue £528.3m
Position in Universe 161st / 1836

BRIEF-Bakkafrost Q4 core profit lags forecast

Tue 19th February, 2019 5:14am
Feb 19 (Reuters) - P/F Bakkafrost  BAKKA.OL :
    * BAKKAFROST Q4 OPERATIONAL EBIT DKK 231 MILLION (REUTERS
POLL DKK
320 MILLION)
    * BAKKAFROST EXPECTS TO HARVEST 54,500 TONNES IN 2019
(REUTERS
POLL 54,700) VERSUS JAN FORECAST 54,500
    * EXPECTS TO RELEASE 13.5 MILLION SMOLTS IN 2019, COMPARED
WITH
12.5 MILLION SMOLTS IN 2018 AND 9.9 MILLION SMOLTS IN 2017
    * OUTLOOK FOR FARMING SEGMENT IS GOOD. ESTIMATES FOR HARVEST
VOLUMES AND SMOLT RELEASES ARE DEPENDENT ON BIOLOGICAL
DEVELOPMENT
    * BAKKAFROST:  GLOBAL HARVEST GROWTH IS EXPECTED TO BE
AROUND 4-6
PERCENT IN 2019 VERSUS NOV VIEW OF 4 PERCENT
    * GLOBAL HARVEST OF ATLANTIC SALMON IN Q1 2019 IS EXPECTED
TO
INCREASE AROUND 5%, COMPARED TO Q1 2018
    * BAKKAFROST Q4 REVENUES DKK 750.3 MILLION (REUTERS POLL DKK
842
MILLION)
    * DIFFICULT MARKET CONDITIONS AND LIMITED MARKET ACCESS FOR
A
PERIOD RESULTED IN A WEAKER THAN EXPECTED RESULT IN FARMING
SEGMENT FOR Q4
    * WE ARE PLEASED, HOWEVER, TO EXPERIENCE MORE ACTIVITY IN
VAP
SEGMENT, DUE TO INCREASED CONTRACTS FOR OUR VAP PRODUCTS
    * BAKKAFROST PROPOSES DIVIDEND OF DKK 8.25 PER SHARE FOR
2018
(REUTERS POLL DKK 10.3)
    * BAKKAFROST EXPECTS A DECREASE IN PRODUCTION VOLUMES OF
FISHMEAL
AND FISH OIL IN 2019, COMPARED TO 2018
    * BAKKAFROST MAKES Q4 FAIR VALUE ADJUSTMENT DKK -239.5
MILLION
    * BAKKAFROST Q4 NET LOSS DKK 6.6 MILLION (REUTERS POLL
PROFIT DKK
228 MILLION)

Source text for Eikon:  urn:newsml:reuters.com:*:nWkrgqtny
Further company coverage:  BAKKA.OL 

 (Reporting By Terje Solsvik)
 ((terje.solsvik@thomsonreuters.com;))
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