Reuters logo
UPDATE 1-Bakkafrost Q3 EBIT in line, sees drop in 2018 harvest volume
November 14, 2017 / 5:25 AM / a month ago

UPDATE 1-Bakkafrost Q3 EBIT in line, sees drop in 2018 harvest volume

(Adds poll number for 2017 output in 2nd bullet, detail)

Nov 14 (Reuters) - P/F Bakkafrost

* Bakkafrost q3 operational ebit DKK ‍251.8​ million (Reuters poll DKK 252 million)

* ‍Bakkafrost’s guidance for harvest in 2017 is increased by 1,000 tonnes gutted weight, from 53,500 to 54,500 tonnes gutted weight (Reuters poll 53,800 tonnes)​

* Bakkafrost expects to harvest ‍51,000​ tonnes in 2018 (Reuters poll 57,200)

* ‍expects to release 10.5 million smolts in 2017, compared with 11.7 million smolts in 2016 and 11.3 million smolts released in 2015. The number of smolts released is a key element of predicting Bakkafrost’s future production

* ‍in 2018, bakkafrost expects to release 13.0 million smolts​

* ‍sea lice has demanded more effort in q3 2017 than in q3 2016 and will most likely postpone some harvest quantity from q4 2017 to q1 2018​

* ‍we still have a good outlook for salmon market, but there is a risk for lower salmon prices in future​

* Bakkafrost q3 revenues dkk 804‍​ million (Reuters poll dkk 737 million)

* Q3 fair-value adjustment DKK -155 million vs year-ago DKK 122 million

* The latest update from Kontali Analyse estimates the global supply of Atlantic salmon to increase around 2% in 2017 and 7-8% in 2018, compared to minus 6% in 2016

* Forecast for feed sales in 2017 is reduced by 5,000 tonnes from 85,000 tonnes to 80,000 tonnes, sales in 2018 is expected to be around 85,000 tonnes

* Says pursuing organic growth, but financial flexibility also enables M&A Source text for Eikon: Further company coverage: (Reporting by Terje Solsvik)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below