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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 operational EBIT below forecast, dividend in line

Tue 24th February, 2015 5:00am
Feb 24 (Reuters) - P/F Bakkafrost  BAKKA.OL  
    * Bakkafrost q4 operational ebit dkk 227.5 million (Reuters 
poll dkk 246 million) 
    * Fair value adjustment of biological assets dkk 51.6 
million 
    * Bakkafrost proposes dividend of dkk 6.00 per share 
(Reuters poll dkk 5.89 per share) 
    * Long-Term goal of board is that 30-50% of eps shall be 
paid out as dividend. Proposed dividend corresponds to 49% of 
adjusted earnings for 2014 and is at top end of range 
    * Salmon market is expected to be tight in 2015 
    * Global supply increase of farmed salmon is expected to be 
only around 4% in 2015 and 2-3% in 2016 
    * Outlook for 2015 is favourable for salmon farming industry 
as only a limited supply growth is expected and a strong demand 
    * Biological situation is good, and price outlook in spot 
market continues to be positive 
    * Expects to harvest 49,000-51,000 tonnes gutted weight in 
2015 
    * Faroe farming, a company in which bakkafrost holds 49%, 
expects to harvest around 4,500 tonnes in 2015 
    * Forecast for smolt release in 2015 is 10.4 million pieces. 
Smolt release for 2015 shall be compared to smolts released in 
2013, which was 9.5 million 
    * Outlook for sale of value added products is good 
    * Outlook for production of fishmeal and fish oil has 
improved as available raw material for production has increased 
 
Source text for Eikon:  ID:nObi2jx3Da  
Further company coverage:  BAKKA.OL  
 
 (Reporting By Terje Solsvik) 
 ((terje.solsvik@thomsonreuters.com;))
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