P/F Bakkafrost logo

BAKKAo - P/F Bakkafrost News Story

NOK660 0.0  0.0%

Last Trade - 12/04/21

Sector
Consumer Defensives
Size
Large Cap
Market Cap £3.25bn
Enterprise Value £3.50bn
Revenue £542.0m
Position in Universe 175th / 1831

BUZZ-Bakkafrost: Bottom of STOXX after pandemic hits Q4

Tue 23rd February, 2021 8:43am
** Shares in Oslo-listed salmon farmer Bakkafrost  BAKKA.OL 
slump over 8% after Q4 results impacted by COVID-19    
    ** Posts Q4 EBIT falling 77% to DKK 69.2 million ($11.31
million) and a bottom line loss of DKK 37.7 million versus a
profit of DKK 219.5 million reported a year ago
    ** "This has been yet another quarter marked by the COVID-19
pandemic which has depressed the global market for salmon,"
Bakkafrost CEO says
    ** The company proposes a dividend of DKK 3.65 per share,
down from DKK 8.31 paid for 2019
    ** Commenting on 2021, the company flags global harvest of
salmon is expected to be up around 2-3% with market supply
rising 5-6% year-on-year due to the effects of inventory
movements
    ** Bakkafrost stock, which is on track on its worst day in
nearly a year, is among worst performers on pan-European STOXX
600  .STOXX  and Oslo blue-chip index


($1 = 6.1164 Danish crowns)

 ((marta.frackowiak@thomsonreuters.com))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.