OldNick
17:48
17.03.2025
#34314
|
P/F Bakkafrost kom med sitt Q4-resultat 17 februar.
BAKKA: Strong biological performance but quiet quarter in the FOF segment
Børsmelding
17.02.2025
The Bakkafrost Group delivered a total operational EBIT of DKK 280 million (DKK 356 million) in Q4-2024.
(Figures in parenthesis refer to the same period last year unless otherwise specified)
The performance in Q4-2024 per region was as follows
Faroe Islands: Revenues of DKK 1 184 million (1 478 million), Operational EBIT of DKK 310 million (461 million)
Scotland: Revenues of DKK 286 million (84 million), Operational EBIT of DKK -31 million (-104 million)
Commenting on the result, CEO Regin Jacobsen said:
"The Freshwater and Farming operations in Faroe Islands had a strong development in this quarter. Biological performance remains robust, with solid growth, effective sea lice management, and harvesting of large fish. We are also pleased with the continued progress in our freshwater segment, which has set new production records for the second consecutive quarter of producing large, high-quality smolt. This improved efficiency is helping to reduce costs.
The FOF segment achieved record-high feed sales in 2024, marking the second-best year after 2023. Despite good full-year financial results, fourth-quarter performance was hurt by lower external fishmeal and oil sales due to reduced raw material sourcing, which normalized following the record-high levels in 2023.
In Scotland, the transition to producing large, high-quality smolt at Applecross has begun. As we scale up production this year and gradually replace legacy fish from our marine farms with high-quality fish, we expect a fundamental transformation of our farming operations from next year onwards. Overall, we are pleased with the de-risking of our Scottish operations in 2024. Mortality has decreased significantly, and fish harvested in the quarter was large, contributing to the highest full-year EBITDA since the acquisition. As we await the full replacement of legacy fish, we will continue a similar de-risking strategy in 2025, before starting the journey to ramp up production from 2026.
Stronger supply growth contributes to downward price pressure. The market price for salmon was weaker than expected this quarter, negatively impacting the margin.
Three major projects are progressing well - the Applecross and Skálavík hatcheries and the expansion of Havsbrún feed factory. These projects are crucial to achieving our goals for 2028 and beyond with robust large smolt, best feed and good fish welfare."
During Q4-2024, the FOF segment sourced 41 919 tonnes (53 552 tonnes) of raw material. The Operational EBIT margin was 12% (25%), and fish feed sales amounted to 38 853 tonnes (39 354 tonnes).
For the full year 2024, the FOF segment's operational EBIT margin was 18% (23%). For the full year 2024, Havsbrún sourced 309 502 tonnes (467 037 tonnes) of raw material.
...
Market Outlook
Supply increased in Q4-2024
The supply of salmon increased 5.2% in Q4-2024 compared to Q4-2023, incl. inventory movements. Without inventory movements, the supply increase was 3.5%, according to the latest estimate from Kontali Analyse.
Lower salmon prices in Q4-2024
Salmon reference prices (in NOK) for 4-5kg superior salmon were 2.7% lower this quarter compared to Q4-2023. The price reduction was largely driven by increased supply, especially from Europe where supply increased by around 8%.
5% growth in 2025
The global supply is expected to increase around 4% in H1-2025. In H2-2025, the global supply is expected to grow around 6%, compared to H2-2024. For the full year 2025, the global supply is expected grow around 5%, excluding inventory movements.
The market dynamics are changing with a larger share of high-quality fish expected to come to market this spring. This shift will alter the dynamics slightly, but Bakkafrost has the flexibility and adaptability to adjust its approach to these conditions. Bakkafrost has a strong focus on ensuring a well -balanced flow to the different markets to increase diversification and mitigate market risk. Bakkafrost operates in the main salmon markets, Europe, the USA, and the Far East. Since the beginning of the war in Ukraine, Bakkafrost has stopped all trading with Russia.
mer på link
Contacts:
Regin Jacobsen, CEO of P/F Bakkafrost, tel. +298 235001 (mobile)
Høgni Dahl Jakobsen, CFO of P/F Bakkafrost, tel. +298 235060
BAKKA: Q4-2024 Report (PDF)
BAKKA: Q4-2024 Presentation (PDF)
BAKKA: Q4-2024 Conference call webcast
BAKKA: Investor relations
______
BAKKA: Key Information Regarding Cash Dividend
Børsmelding
17.02.2025
Dividend amount: 8.44 per share
Declared currency: DKK
Last day including right: 30.04.2025
Ex-date: 02.05.2025
Record date: 05.05.2025
Payment date: On or around 21.05.2025
Date of approval: 30.04.2025
Other information: The cash dividend will be paid in NOK. The currency rate NOK/DKK used in the cash dividend payment will be announced on 24.04.2025.
______
Bakkafrost kutter investeringsplanene
E24.no/CNP-Live
17.02.2025
______
Carnegie kutter målkursen for BAKKA-aksjen fra 675 norske kroner til 650, etterat rapporten ble presentert.
Carnegie kutter Bakkafrost til hold fra kjøp
E24.no/CNP-Live
17.02.2025
______
BAKKA: FEARNLEY SECURITIES NEDGRADERER TIL HOLD, KURSMÅL 670 (730) (FA.no)
______
BAKKA: KEPLER CHEUVREUX NEDGRADERER TIL HOLD (FA.no) |
OldNick
22:45
01.04.2025
#34430
|
BAKKA: 2024 Annual Report (PDF)
______
BAKKA: Q1-2025 Trading Update
Børsmelding
01.04.2025
FARMING
In Q1-2025, the harvest volumes for Bakkafrost's operation in the Faroe Islands and Scotland were:
Region: Month, Harvest volume (x1 000 tonnes), Average weight (kg)
Faroe Islands:
- Jan: 6.7, 5.1
- Feb: 6.8, 5.0
- Mar: 5.4, 5.2
- Q1-total: 18.9, 5.1
Scotland:
- Jan: 1.9, 6.5
- Feb: 2.1, 6.9
- Mar: 2.3, 6.7
- Q1-total: 6.3, 6.7
All harvest volumes are provided in head-on gutted (HOG) equivalents.
Based on preliminary numbers, Q1-2025 incident-based mortality costs in the farming segments are estimated to be:
- Faroe Islands: 0 mDKK
- Scotland: 8 mDKK
FRESHWATER
The smolt release in Q1-2025 was:
- Faroe Islands: 3.2 million
- Scotland: 0.6 million
FISHMEAL, OIL AND FEED (FOF)
In Q1-2025, the volumes sourced and sold in the FOF segment where (in thousand tonnes):
Month: Marine raw material sourcing, Feed sales, Fish meal sales, Fish oil sales
Jan: 25.5, 10.7, 2.4, 0.0
Feb: 39.2, 8.4, 0.0, 0.0
March: 44.8, 12.3, 1.2, 0.0
Q1-Total: 109.5, 31.3, 3.6, 0.0
The full Q1-2025 report will be released on 19.05.2025 at 06:00 CET.
Contacts:
Regin Jacobsen, CEO of P/F Bakkafrost, tel. +298 23 50 01
Høgni Dahl Jakobsen, CFO of P/F Bakkafrost, tel. +298 23 50 60
Endret 22:46 01.04.2025 av OldNick |
highlander
16:15
03.04.2025
#49762
|
Carnegie ser på de fremlagte brede tollene som worst case scenario for lakseoppdretterne der altså Norge får toll på 15%, Chile 10% og EU (der mye lakseforedling gjøres) 20%.
Carnegie påpeker at USA står for 25% av det globale forbruket og skriver om de norske oppdretterne: "“Hvis vi skulle anta at prisene for 2025e når 6,3 euro/kg (en beskjeden ti prosent reduksjon i forhold til gjeldende Carnegie-estimat for 2025) med gjeldende valutakurs, ser vi 40-50 prosent nedside(!) til gjeldende EBIT-konsensus for 2025 i alle de større og mest likvide navnene (MOWI, SALM, BAKKA, LSG).
For GSF, som i tillegg til en høyere kostnadsbase har høy belåning, vil det meste av EBIT fordampe og nettoresultatet vil være negativt.
- Som om det ikke var bekymringsfullt nok, kan økte tollbarrierer også føre til høyere innsatskostnader for fôr, og dermed øke fôrkostnadene også på lengre sikt, sier Carnegie til iLaks.
Carnegie nedjusterer 12-måneders kursmål for de fleste selskapene i laksesektoren under meglerhusets dekning, som følge av lavere lakseprisestimater både på kort og lang sikt.
Samtidig oppjusterer meglerhuset kursmålet for Andfjord Salmon grunnet høyere volumer på lang sikt, og på Grieg Seafood ettersom meglerhuset nå legger til grunn en høyere sannsynlighet for salg av eiendeler i Norge, ifølge TDN.
Oversikt over meglerhusets anbefalinger:
Aksje Kursmål (tidligere) Anbefaling
MOWI 230 (256) Kjøp
SALM 631 (685) Kjøp
BAKKA 510 (650) Hold
LSG 53 (60) Kjøp
GSF 60 (54) Hold
MAS 31 (35) Kjøp
SALME 7,6 (8,7) Kjøp
ANDF 48 (44) Kjøp
GIGA 11 (13) Kjøp |
highlander
04:38
27.04.2025
#49840
|
Sparebank 1 Markets oppgraderer Bakkafrost fra hold til kjøp i en analyseoppdatering.
Kursmålet holdes dog uendret på 650 kroner. |
highlander
05:22
13.05.2025
#49897
|
ABG Sundal Collier nedjusterer kursmålet på Mowi til 225 kroner fra 266 kroner og gjentar kjøpsanbefalingen på aksjen, ifølge TDN.
Meglerhuset nedjusterer sitt driftsresultatestimat for 2025 med 19 prosent, hovedsakelig som følge av en lavere spotprisantagelse, noe som mer enn oppveier litt høyere volum og noe lavere kostnader drevet av bedre biologi og skalafordeler.
Basert på meglerhusets oppdaterte estimater handles Mowi til en P/E på 15 ganger i 2025, hvilket tilsvarer 10 prosent rabatt mot sektoren som handles til 16 gangeren.
ABG Sundal Collier nedjusterer kursmålet på SalMar til 657 kroner fra 783 kroner, og gjentar sin kjøpsanbefaling på aksjen.
Meglerhuset nedjusterer sitt driftsresultatestimat for SalMar i 2025 med 17 prosent på lavere lakeprisestimater.
Basert på meglerhusets oppdaterte estimater handles SalMar til en P/E på 12 ganger basert på 2026-estimater.
Videre nedjusterer meglerhuset kursmålet på Lerøy til 60 kroner fra 70 kroner og gjentar kjøpsanbefalingen på aksjen.
Meglerhuset nedjusterer sitt driftsresultatestimat for Lerøy i 2025 med 20 prosent.
Basert på meglerhusets oppdaterte estimater handles Mowi til en P/E på 14 ganger på 2025-estimater.
Kursmålet på Austevoll Seafood nedjusteres til 112 kroner fra 127 kroner. Kjøpsanbefalingen opprettholdes.
Kursmålet på Grieg Seafood nedjusteres til 55 kroner fra 55 kroner. Hold-anbefalingen gjentas.
Kursmålet på Bakkafrost nedjusteres til 516 kroner fra 535 kroner. Hold-anbefalingen gjentas. |
highlander
05:29
13.05.2025
#49900
|
Norne Securities initierer analysedekning av flere oppdrettsaksjer, ifølge en rapport publisert mandag.
Meglerhuset konkluderer med følgende anbefalinger og kursmål:
Austevoll Seafood, kjøp, 125
Bakkafrost, kjøp, 570
Lerøy Seafood, kjøp, 55
Mowi, hold, 210
SalMar, hold, 520
Grieg Seafood, salg, 50 |
highlander
18:10
03.06.2025
#49921
|
Fearnley Securities nedjusterer kursmålet sitt på Bakkafrost til 620 kroner fra 660 kroner, og gjentar kjøpsanbefaling.
Det fremgår av en analyseoppdatering tirsdag, ifølge TDN.
Fearnley senker estimatene sine i Farming-segmentet på grunn av økte kostnader i Skottland, og nedjusterer derfor kursmålet. Meglerhuset ser imidlertid gunstig risk/reward på nåværende handelsnivåer og gjentar derfor kjøpsanbefaling.
DNB Carnegie gjentar sin kjøpsanbefaling og kursmålet på 590 kroner. |
highlander
14:18
11.06.2025
#49973
|
Sparebanken 1 Markets er ute med en oppdatert sektorrapport med følgende anbefalinger:
Aksje, kursmål, anbefaling (tidligere i parentes om endret):
Mowi, NOK 245, kjøp
Salmar, NOK 610 (630), kjøp
Lerøy Seafood, NOK 61, kjøp
Bakkafrost, NOK 650, kjøp
Grieg Seafood, NOK 64, nøytral (kjøp)
Måsøval, NOK 35 (37), kjøp
Endret 14:18 11.06.2025 av highlander |
OldNick
10:41
17.06.2025
#34881
|
Bakkafrost P/f kom med sitt Q1-2025 resultat 19 mai.
BAKKA: Strong biological performance - weaker prices
Børsmelding
19.05.2025
The Bakkafrost Group delivered a total operational EBIT of DKK 505 million (DKK 710 million) in Q1-2025.
(Figures in parenthesis refer to the same period last year unless otherwise specified)
The performance in Q1-2025 per region was as follows:
- Faroe Islands: Revenues of DKK 1 403 million (1 594 million), Operational EBIT of DKK 435 million (671
million)
- Scotland: Revenues of DKK 496 million (612 million), Operational EBIT of DKK 71 million (39 million)
Commenting on the result, CEO Regin Jacobsen said:
"Overall, we are satisfied with the results in this quarter. Our Faroese freshwater and marine operations delivered another quarter of strong biological performance, reflecting robust growth, effective sea lice management, and consistent harvesting of large, high-quality fish. The freshwater segment continues to excel, further improving our production efficiency with high-quality, large smolt, which positively impacts costs.
In Scotland, our strategic focus remains firmly on the successful transition to large, high-quality smolt at Applecross. We are steadily progressing in scaling up this production, which remains central to fundamentally transforming our Scottish farming operations and enhancing long-term sustainability and profitability.
The supply of whole salmon from Norway increased 38% in the quarter. This caused a significant drop in salmon prices during the first quarter. The Applecross and Skálavík hatcheries and the Havsbrún feed factory expansion are progressing according to plan. These projects remain critical to achieving our strategic objectives."
During Q1-2025, the FOF segment sourced 109 502 tonnes (136 874 tonnes) of raw material. The Operational EBIT margin was 13% (24%), and fish feed sales amounted to 31 338 tonnes (27 046 tonnes).
In Q1-2025, the Freshwater segments in the Faroe Islands and Scotland transferred a total of 3.8 million (3.7 million) smolts combined:
- Freshwater FO: 3.2 million (2.1 million),
- Freshwater SCT: 0.6 million (1.6 million).
In Q1-2025, the Freshwater FO segment made an operational EBIT per kg transferred smolt of DKK 42.11 (DKK 25.06), corresponding to NOK 65.75 (NOK 38.36). The Freshwater SCT segment made an operational EBIT per kg transferred smolt of DKK 12.33 (DKK -178.98), corresponding to NOK 19.26 (NOK -274.00).
The Farming segments achieved lower prices in Q1-2025 than in Q1-2024. The Farming segments had higher volumes in Q1 2025 compared to Q1 2024. In Q1 2025, the Farming SCT segment had incident-based costs of DKK 8 million (DKK 18 million).
The total combined harvest in Q1 2025 of the farming segments in the Faroe Islands and Scotland was 25,200 tonnes gutted weight (21,557 tgw):
- Farming FO: 18 914 tgw (14 294 tgw),
- Farming SCT: 6 286 tgw (7 263 tgw).
In Q1-2025, the Farming FO segment made an operational EBIT per kg of DKK 15.15 (DKK 33.03), corresponding to NOK 23.65 (NOK 50.56). The Farming SCT segment made an operational EBIT per kg of DKK 2.53 (DKK 3.35), corresponding to NOK 3.95 (NOK 5.13).
The Services segment made an operational EBIT per kg of DKK 1.51 (DKK 1.22), corresponding to NOK 2.35 (NOK 1.87). The operational EBIT margin for the segment was 17% (10%).
The Sales & Other segment had a revenue of DKK 2 962 million (2 850 million) and an operational EBIT margin of -1% (0%). The operational EBIT per kg was DKK 1.65 (DKK -0.11), corresponding to NOK 2.57 (NOK -0.16).
The performance related to the Faroe Islands and Scotland as a region can be found in the Appendix.
The long-term goal of the Board of Directors is that 30-50% of earnings per share shall be paid out as a dividend. Bakkafrost's financial position is strong, with a solid balance sheet, a competitive operation, and available credit facilities.
The Annual General Meeting convened on April 30, 2025, decided to pay out a dividend of DKK 8.44 (NOK 13.37) per share. The total dividend of DKK 501 million (NOK 781 million) will be paid out on or around May 21, 2025.
OUTLOOK AND OPERATIONAL PERFORMANCE
Market
Supply increased in Q1-2025
The supply of salmon increased 5.3% in Q1-2025 compared to Q1-2024, incl. inventory movements. Without inventory movements, the supply increase was 8.4%, according to the latest estimate from Kontali Analyse.
Lower salmon prices in Q1-2025
Salmon reference prices (in NOK) for 4-5kg superior salmon were 18.1% lower this quarter compared to Q1 2024. The price reduction was largely driven by increased supply resulting from improved biology in Norway. Most of the other producing regions contributed to the supply growth, except Canada.
6-7% growth in 2025
The global supply is expected to increase around 7% in H1-2025. In H2-2025, the global supply is expected to grow around 6%, compared to H2-2024. For the full year 2025, the global supply is expected grow around 6-7%.
Overall, the salmon market has been affected by larger than expected supply. Improved biology in Norway has also led to lower share of production fish being sold to the market. These factors impacted the market dynamics in the quarter leading to lower salmon prices, compared to previous years.
Bakkafrost has a strong focus on ensuring a well-balanced flow to the different markets to increase diversification and mitigate market risk. Bakkafrost operates in the main salmon markets, Europe, the USA, and the Far East. Since the beginning of the war in Ukraine, Bakkafrost has stopped all trading with Russia.
Farming
The biological performance in Q1-2025 in the Faroese farming operation continued showing strong performance. Harvest weights have been high and sea lice levels well under control. Feeding, growth and survivability rates have all have been high. These positive trends indicate strong future performance as the fish are expected to thrive and contribute significantly to the operation's success.
The Faroese freshwater operation is continuing to increase the production volume of large high-quality smolt. The capacity utilization is expected to continue growing, leading to increased production volume. The volume is projected to rise slightly in 2025, with smolt weights a bit higher than in 2024. The current hatchery capacity in the Faroes allows for an annual smolt production of 9 000 tonnes, equalling 18 million smolt of 500g. This will increase to 24 million smolt of 500g when the ongoing construction of the new hatchery in Skálavík will be finished late 2026. The construction of the hatchery progresses according to plan.
In Q1-2025, the average weight of transferred smolt in the Faroe Islands was 421g, which is 10% higher than in 2024.
The farming operation in Scotland has performed strongly in Q1-2025. Mortality levels are normally lower in the first quarter than the rest of the year. This has also been the case in this quarter. Overall, the health condition of the fish has been good. Sea lice levels have been managed well and average harvest weights have been exceptionally high.
As earlier announced, Bakkafrost is following a de-risking strategy for the Scottish marine farming in 2025, similar to 2024. Bakkafrost expects to harvest around 67% of the annual volume in H1-2025 with good average weights. Ahead of Q3, harvest weights will probably reduce as some sites are emptied to reduce risk.
During 2025, the biomass at sea will gradually change character, transitioning to be based on high-quality smolt. This strategic shift is expected to enhance overall fish health and growth rates, leading to a more robust and sustainable aquaculture environment.
In the Scottish freshwater operation, the main priority is to ensure a steadily growing output of large high-quality smolt from Applecross which is currently in the ramp-up phase to deliver fish above 200g in 2025. This is not a straight-line development, but a delicate and gradual process involving some level of risk which reduces as the operation is fine-tuned, and all procedures executed at least once. Production volume and smolt release will increase throughout the year and into 2026. With the new Applecross 5 module now in production, the production capacity is around 3,500 tonnes of smolt annually. This capacity will be utilised to make Bakkafrost self-sufficient with around 14 million high-quality smolt of 250g.
Another priority in 2025 is the completion of the Applecross phase 6 and 7, which will improve the biosecurity in the smolt production and add flexibility.
In Q1-2025, the average weight of transferred smolt from Applecross in Scotland was 232g, which is 80% higher than in Q1-2024. The average smolt weight for all of Bakkafrost's smolt release in Scotland in the quarter was 169g, which is 40% higher than in Q1-2024.
mer på link.
Contacts:
Regin Jacobsen, CEO of P/F Bakkafrost, tel. +298 235001
Høgni Dahl Jakobsen, CFO of P/F Bakkafrost, tel. +298 235060
BAKKA: Q1-2025 Report (PDF)
BAKKA: Q1-2025 Presentation (PDF)
BAKKA: Q1-2025 Conference call webcast
BAKKA: Investor relations
______
Idag og i morgen avholder Bakkafrost kapitalmarkedsdag på Færøyene.
BAKKA: Capital Markets Day
Børsmelding
17.06.2025
On Tuesday 17-18 June 2025, Bakkafrost will host the Capital Markets Days 2025 in the Faroe Islands.
The Capital Markets Days will start with a main presentation on Tuesday morning, followed by a Q&A session. Following this, site visits covering most parts of Bakkafrost's value chain have been arranged.
BAKKA: CMD 2025 webcast (Youtube)
BAKKA: CMD 2025 Presentation (PDF)
Endret 10:41 17.06.2025 av OldNick |
highlander
18:48
30.06.2025
#50057
|
ABG Sundal Collier ser nedsiderisiko til konsensus blant lakseselskapene i andre kvartal 2025, og har samtidig nedjustert sine lakseprisanslag for andre halvår. Mowi trekkes frem som toppvalget i sektoren.
Det fremgår av en sektorrapport fra meglerhuset mandag, ifølge TDN.
For andre kvartal nedjusterer ABG sine driftsresultat-estimater med rundt 9 prosent, ettersom driftsresultat/kilo-marginene reduseres med rundt 2 kroner pr kilo, hovedsakelig drevet av lavere referansepriser, men motvirket av høyere volumer og bedre marginer i VAP. Basert på meglerhusets oppdaterte estimater, er ABG 17 prosent under FactSet-konsensus for andre kvartal i gjennomsnitt, og ser best risk/reward i Mowi.
"I tillegg har vi senket prisanslaget for andre halvår (tredje kvartal: 65 kroner pr kilo fra 67 kroner pr kilo, og fjerde kvartal: 75 kroner pr kilo fra 77 kroner pr kilo). Totalt sett er driftsresultat for regnskapsåret 2025 ned med 7 prosent", skriver ABG.
Basert på de oppdaterte estimatene er meglerhuset i gjennomsnitt 12 og 20 prosent under 2025-konsensus for henholdsvis driftsresultat og resultat pr aksje (EPS). ABG mener markedsforventningene ser for høye ut og ser betydelig nedsiderisiko til estimatene i de kommende månedene, i tillegg til de 29 prosent negative EPS-revisjonene til 2025-konsensus hittil i år.
"I tråd med sesongmessig høyere volumer, forventer vi også at spotprisene vil fortsette på lave nivåer, noe som ytterligere demper det kortsiktige sentimentet", skriver meglerhuset videre.
Oversikt over meglerhusets anbefalinger og kursmål:
SELSKAP ANBEFALING KURSMÅL
Mowi Kjøp 223
SalMar Kjøp 651
Lerøy Seafood Kjøp 60
Bakkafrost Hold 506 (531)
Grieg Seafood Hold 70 |
OldNick
19:18
02.07.2025
#34996
|
BAKKA: Q2-2025 Trading Update
Børsmelding
02.07.2025
FARMING
In Q2-2025, the harvest volumes for Bakkafrost's operation in the Faroe Islands and Scotland were:
Region: Month, Harvest volume (x1 000 tonnes), Average weight (kg)
Faroe Islands:
- April: 6.4, 5.1
- May: 5.6, 4.9
- June: 4.1, 4.8
- Q2 total: 16.0, 5.0
Scotland:
- April: 1.9, 6.2
- May: 2.4, 5.8
- June: 2.2, 5.6
- Q2 total: 7.0, 5.9
All harvest volumes are provided in head-on gutted (HOG) equivalents.
Based on preliminary numbers, Q2-2025 incident-based mortality costs in the farming segments are estimated to be:
- Faroe Islands: 0 mDKK
- Scotland: 27 mDKK
FRESHWATER
The smolt release in Q2-2025 was:
- Faroe Islands: 5.4 million
- Scotland: 0.9 million
FISHMEAL, OIL AND FEED (FOF)
In Q2-2025, the volumes sourced and sold in the FOF segment where (in thousand tonnes):
Month: Marine raw material sourcing, Feed sales, Fish meal sales, Fish oil sales
- April: 69.7, 10.6, 3.6, 0.0
- May: 60.5, 14.0, 3.9, 0.0
- June: 29.3, 12.9, 1.5, 0.0
- Q2 Total: 159.5, 37.5, 9.0, 0.0
The full Q2-2025 report will be released on 26.08.2025 at 06:00 CET.
Contacts:
Regin Jacobsen, CEO of P/F Bakkafrost, tel. +298 23 50 01
Høgni Dahl Jakobsen, CFO of P/F Bakkafrost, tel. +298 23 50 60
Endret 19:18 02.07.2025 av OldNick |
highlander
20:48
10.07.2025
#50109
|
Kepler Cheuvreux nedjusterer kursmål på flere sjømataksjer, ifølge en oppdatering fra meglerhuset torsdag.
Meglerhusets anbefalinger er som følger:
Aksje, anbefaling, kursmål i kroner (tidl.)
Mowi, hold, 195 (200)
Salmar, hold 450 (465)
Lerøy Seafood, selg, 43 (45)
Grieg Seafood, selg, 48 (51)
Bakkafrost, selg, 430 (475)
Austevoll Seafood, selg, 88 (87) |
OldNick
19:09
15.07.2025
#35105
|
BAKKA: Preliminary results and profit warning for Q2-2025
Børsmelding
15.07.2025
Preliminary results of the unaudited consolidated accounts for Q2-2025 indicate a lower-than-expected operational EBIT for the Bakkafrost Group. The preliminary results indicate an operational EBIT of around 65 mDKK for the Group and the following results per segment:
Segment: (mDKK)
FOF: 89
Freshwater FO: 85
Freshwater SCT: -72 (exceptional mortality and write-down cost of 52 mDKK)
Farming FO: 4
Farming SCT: -127 (exceptional mortality and write-down cost of 38 mDKK)
Services: 17
Sales & Other: 97
Weak salmon prices in the quarter harmed the overall results. In the Faroes, biological performance was strong in the quarter, while the Scottish farming and freshwater segments had some challenges with diseases, which continued into July. Consequently, exceptional mortality costs of 93 mDKK have been booked in the Scottish farming and freshwater segments, including a write-down of mortality in July related to the same disease events.
The full Q2-2025 report will be released on 26.08.2025 at 06:00 CET.
Contacts:
Regin Jacobsen, CEO of P/F Bakkafrost, tel. +298 23 50 01
Høgni Dahl Jakobsen, CFO of P/F Bakkafrost, tel. +298 23 50 60 |
highlander
22:37
16.07.2025
#50152
|
Bakkafrost falt 16,1 prosent onsdag etter at selskapet tirsdag etter børsens stengetid varslet et lavere enn ventet resultat for andre kvartal 2025, jf. OldNick #35105.
Foreløpige tall indikerer at selskapet oppnådde et operasjonelt driftsresultat på 65 millioner danske kroner i kvartalet, noe som ifølge ABG Sundal Collier er 76 prosent lavere enn konsensus.
Samlet sett rapporterte selskapet et tap på 199 millioner danske kroner fra Skottland. Dette er omtrent dobbelt så stort som man kunne forvente gitt de seneste lakseprisene, og skyldes dødelighetskostnader og nedskrivninger, ifølge Arctic Securities.
"Svake resultater fra særlig Skottland, men også Færøyene leverer klart svakere enn ventet. Gitt at vi kjenner slakteprofilen fra den seneste kvartalsoppdateringen, virker det som kostnadene har vært problemet for Bakkafrost", skriver Arctic ifølge TDN.
Utviklingen vil øke risikopersepsjonen og stiller spørsmål ved lønnsomheten for Skottland-segmentet, ifølge ABG Sundal Collier. I tillegg peker tilnærmet nullresultat på Færøyene på fortsatt høyt kostnadsnivå i påvente av høyere volum, ifølge ABG.
Det vil nok komme flere nedjusteringer de nærmeste dagene...
Endret 22:38 16.07.2025 av highlander |
highlander
06:03
05.09.2025
#50242
|
Norne Securities har sluppet en sektorrapport for sjømataksjene med følgende anbefalinger:
Aksje, kursmål i kr. (tidligere i parentes), anbefaling:
Austevoll Seafood, 120 (125), kjøp
Bakkafrost, 410 (420), selg
Grieg Seafood, 90 (85), kjøp
Lerøy Seafood, 60, kjøp
Mowi, 215 (210), hold
Salmar, 520 (490), hold
---------
Fearnley Securities gjentar sin kjøpsanbefaling på Bakkafrost i en analyseoppdatering.
Imidlertid nedjusterer meglerhuset kursmålet fra 580 til 530 kroner.
Endret 06:06 05.09.2025 av highlander |
OldNick
11:46
03.10.2025
#35547
|
BAKKA: Q3-2025 Trading Update
Børsmelding
03.10.2025
FARMING
In Q3-2025, the harvest volumes for Bakkafrost's operation in the Faroe Islands and Scotland were:
Month: Harvest volume (1 000 tonnes), Average weight (kg)
Faroe Islands
July: 6.1, 4.8
August: 9.6, 5.2
September: 9.7, 5.6
Q3-2025 total: 25.4, 5.2
Scotland
July: 2.4, 5.1
August: 1.6, 4.4
September: 1.2, 4.7
Q3-2025 total: 5.3, 4.8
All harvest volumes are provided in head-on gutted (HOG) equivalents.
Based on preliminary numbers, Q3-2025 incident-based mortality costs in the farming segments are estimated to be:
- Faroe Islands: 0 mDKK
- Scotland: 59 mDKK (mainly occurred in September at the Portree farming site)
FRESHWATER
The smolt release in Q3-2025 was:
- Faroe Islands: 4.8 million
- Scotland: 3.3 million
FISHMEAL, OIL AND FEED (FOF)
In Q3-2025, the volumes sourced and sold in the FOF segment where (in thousand tonnes):
Month: Marine raw material sourcing, Feed sales, Fish meal sales, Fish oil sales
July: 18.3, 15.2, 2.7, 0.0
August: 5.9, 17.1, 1.2, 0.0
September: 16.2, 16.7, 1.2, 0.0
Q3-2025 Total: 40.3, 49.1, 5.1, 0.0
The full Q3-2025 report will be released on 04.11.2025 at 06:00 CET.
Contacts:
Regin Jacobsen, CEO of P/F Bakkafrost, tel. +298 23 50 01
Høgni Dahl Jakobsen, CFO of P/F Bakkafrost, tel. +298 23 50 60 |
highlander
16:18
06.10.2025
#50289
|
Arctic Securities løfter kursmålet på Bakkafrost til 600 kroner fra 500 kroner, og gjentar følgelig en kjøpsanbefaling på aksjen.
Det fremgår av en analyseoppdatering fra meglerhuset mandag.
"Med en estimert vekst på 19 prosent i antall fisk i sjøen på Færøyene øker vi vårt slakteestimat for 2026 med 3.700 tonn og estimerer et slaktevolum på 88.800 tonn (som innebærer en vekst på 8,2 prosent fra år til år). Vi holder slaktevolumestimatet for 2025 uendret", skriver Arctic ifølge TDN. |
OldNick
00:06
07.11.2025
#35813
|
Bakkafrost P/f kom med sitt Q2-2025 resultat 26 august.
BAKKA: Q2-2025 - Strong biological performance in a weak market
Børsmelding
26.08.2025
BAKKA: Q2-2025 Report (PDF)
BAKKA: Q2-2025 Presentation (PDF)
BAKKA: Q2-2025 Conference call webcast
BAKKA: 2024 Annual Report (PDF)
BAKKA: Investor relations
______
BAKKA: Primary insider share purchase
Børsmelding
28.08.2025
Today, SP/F 1968, a company fully owned by Regin Jacobsen, CEO of Bakkafrost, has purchased 11 700 shares in Bakkafrost at a price of NOK 422.866 per share.
Following the transaction, Regin Jacobsen owns, directly and indirectly through SP/F 1968, 4 656 337 shares in Bakkafrost.
______
Bakkafrost P/f kom med sitt Q3-resultat tirsdag.
BAKKA: Q3-2025 - Record biology in the Faroes drives lower costs - a strong foundation for sustainable growth
Børsmelding
04.11.2025
The Bakkafrost Group delivered a total operational EBIT of DKK 22 million (DKK 173 million) in Q3-2025.
(Figures in parenthesis refer to the same period last year unless otherwise specified)
The performance in Q3 2025 per region was as follows:
- Faroe Islands: Revenues of DKK 1 405 million (1 420 million)
-- Operational EBIT of DKK 227 million (310 million)
- Scotland: Revenues of DKK 282 million (317 million)
-- Operational EBIT of DKK -205 million (-138 million)
Commenting on the result, CEO Regin Jacobsen said:
"We are not satisfied with the financial results in this quarter, which were impacted by weak market prices and continued high global supply.
However, we are very pleased with the exceptionally strong biological performance in the Faroe Islands. Our farming operations delivered record survival, strong growth, and the best biological results ever achieved in Bakkafrost's history. Importantly, farming costs in the Faroe Islands continue to decline - down 12% year-on-year in Q2 and down a further 14% in Q3 - reflecting the impact of excellent biology, efficient farming, and disciplined operations.
In Scotland, performance was stable at most farming sites in the early part of the quarter but deteriorated following a disease outbreak at Portree, which had a notable impact on results. At the same time, the Applecross hatchery has made solid progress under its new management team, with operations stabilising and supporting the continued ramp-up of large, high-quality smolt production.
Looking ahead, we expect the market situation to gradually improve as global supply growth slows and demand for high-quality salmon remains firm. This should support higher price levels through the winter and into 2026.
Despite financial headwinds this quarter, the strong biological foundation across the Group positions Bakkafrost well for the future. Our priorities remain unchanged - to strengthen biological control, maintain cost discipline, and deliver sustainable long-term value through operational excellence."
mer på link
BAKKA: Q3-2025 Report (PDF)
BAKKA: Q3-2025 Presentation (PDF)
BAKKA: Q3-2025 Conference call webcast
______
Bakkafrost med resultatras: Ikke fornøyde
Lakseoppdretteren leverte et operasjonelt resultat på 22 mill. danske kroner - ned fra 173 mill. året før.
Nora Rydne, E24.no
04.11.2025
Endret 00:08 07.11.2025 av OldNick |
OldNick
00:48
06.01.2026
#36155
|
BAKKA: Q4-2025 Trading Update (correction)
Børsmelding
05.01.2026
Correction of Q4 harvest totals and average weight for the Faroe Islands, announced at 17:54 CET today.
The complete and correct announcement is as follows:
FARMING
In Q4-2025, the harvest volumes for Bakkafrost's operation in the Faroe Islands and Scotland were:
Region (period), Harvest volume (thousand tonnes HOG), Average weight (kg)
Faroe Islands
...Oct: 9.5, 5.4
...Nov: 7.6, 5.9
...Dec: 6.2, 5.4
...Q4-2025: 23.3, 5.6
...YTD-2025: 83.6, -
Scotland
...Oct: 1.9, 2.8
...Nov: 1.6, 6.0
...Dec: 1.1, 5.8
...Q4-2025: 4.6, 4.1
...YTD-2025: 23.2, -
Based on preliminary numbers, Q4-2025 incident-based mortality costs in Farming were:
- Faroe Islands: 0 mDKK
- Scotland: 58 mDKK (nearly half of this was caused by the Pasterella incident at Portree in Q3)
FRESHWATER
The smolt release in Q4-2025 was (in millions):
Region: Q4-2025, YTD-2025
Faroe Islands: 5.3. 18.7
Scotland: 2.2, 7.3
Based on preliminary numbers, Q4-2025 incident-based mortality costs in Freshwater were:
- Faroe Islands: 0 mDKK
- Scotland: 2 mDKK (mainly culling costs at the Couldoran hatchery)
FISHMEAL, OIL AND FEED (FOF)
In Q4-2025, the volumes sourced and sold in the FOF segment were (in thousand tonnes):
Month: Marine raw material sourcing, Feed sales, Fish meal sales, Fish oil sales
Oct: 11.1, 18.6, 1.2, 0.0
Nov: 22.8, 14.0, 0.0, 0.0
Dec: 5.9, 14.6, 1.2, 0.0
Q4-2025: 39.8, 44.7, 2.4, 0.0
YTD-2025: 349.2, 165.2, 20.2, 0.0
The full Q4-2025 report will be released 09.02.2026 2026 at 06:00 CET.
Contacts:<7U>
Regin Jacobsen, CEO of P/F Bakkafrost, tel. +298 23 50 01
Høgni Dahl Jakobsen, CFO of P/F Bakkafrost, tel. +298 23 50 60
Endret 00:50 06.01.2026 av OldNick |
highlander
08:26
27.01.2026
#50478
|
DNB Carnegie har kommet med ny sektorrapport for sjømatsektoren.
Meglerhuset gjentar sin kjøpsanbefaling for samtlige aksjer de dekker, og har følgende kursmål i kroner (tidligere i parentes):
Andfjord Salmon 38 (43)
Austevoll Seafood 115 (126)
Arctic Fish 50
Bakkafrost 530 (550)
Grieg Seafood 80 (82)
Icelandic Salmon 85 (90)
Lerøy Seafood 60 (65)
Mowi 250 (255)
Måsøval 29 (30)
Nordic Aqua Partners 125
Salmar 630 (650)
Salmon Evolution 7,1 (7,5) |
highlander
15:40
27.01.2026
#50489
|
Arctic Securities kutter kursmålet på Bakkafrost fra 640 til 560 kroner.
Kjøpsanbefalingen opprettholdes. |
highlander
05:16
04.02.2026
#50514
|
ABG Sundal Collier og Fearnley Securities har begge kommet med oppdateringer for sjømatsektoren, og har følgende endringer hva angår kursmål i kroner og anbefalinger (tidl. i parentes)
Austevoll Seafood:
ABG: 100 (108), kjøp
Fearnley: 104, hold (kjøp)
Bakkafrost:
ABG: 315 (339), hold
Fearnley: 550 (565), kjøp
Grieg Seafood:
ABG: 73 (76), hold
Fearnley: 79, hold (kjøp)
Lerøy Seafood:
ABG: 57 (63), kjøp
Fearnley: 56 (60), kjøp
Mowi:
Fearnley: 256 (270), kjøp
Salmar:
ABG: 654 (680) kjøp
Salmon Evolution:
Fearnley: 6,8 (7), kjøp |
OldNick
01:36
12.02.2026
#36381
|
Bakkafrost P/f kom med sitt Q4-resultat mandag.
BAKKA: Strong momentum in Q4-2025
Børsmelding
09.02.2026
BAKKA: Q4-2025 Report (PDF)
BAKKA: Q4-2025 Presentation (PDF)
BAKKA: Q4-2025 Conference call webcast
BAKKA: Investor relations
______
BAKKA: Key Information Regarding Cash Dividend
Børsmelding
09.02.2026
Dividend amount: 3.45 per share
Declared currency: DKK
Last day including right: 30.04.2026
Ex-date: 04.05.2026
Record date: 05.05.2026
Payment date: On or around 21.05.2026
Date of approval: 30.04.2026
______
Bakkafrost med kraftig resultatløft
Inntektene kom inn under konsensus for Bakkafrost, mens resultat før skatt ble langt høyere enn ventet
Bendik H. Aurdal, FA.no
09.02.2026
Bakkafrost leverte et operasjonelt driftsresultat på DKK 295 mill. i Q4-2025, opp fra DKK 280 mill. i samme periode året før.
Driftsinntektene endte på DKK 1 847 mill., mot DKK 1 470 mill. året før.
Operasjonelt leverte konsernet en solid prestasjon i fjerde kvartal, drevet av sterk biologisk utvikling på Færøyene, der biomassen nådde et rekordhøyt nivå, sier konsernsjef Regin Jacobsen.
Han peker på at dette har bidratt til bedre kostnadseffektivitet og økt operasjonell robusthet, som fortsatt er et hovedfokus for konsernet.
Inntektene under konsensus
Samtidig var de finansielle resultatene svakere enn ønsket.
De finansielle resultatene i fjerde kvartal var ikke tilfredsstillende. De ble påvirket av fortsatt høy global tilbudsvekst av laks, som presset markedsprisene gjennom store deler av kvartalet, sier Jacobsen.
På forhånd var det ventet driftsinntekter på DKK 2 050 mill. og et operasjonelt driftsresultat på DKK 310 mill., ifølge selskapets konsensus. Videre var resultat før skatt ventet til DKK 217 mill. og resultat etter skatt til DKK 173 mill. kroner.
Pareto Securities peker på at operasjonell EBIT på DKK 295 mill. var på linje med både selskapets konsensus og Paretos egne anslag. Meglerhuset mener samtidig at utbytteforslaget på 3.45 kroner per aksje er lavere enn konsensus. Pareto viser også til rekordhøy biomasse inn i 2026 og lavere dødelighet i Skottland de siste månedene, og venter en nøytral kursreaksjon.
I Skottland ble driften i tillegg rammet av tømming og slakting av Portree-lokaliteten i oktober etter den ekstraordinære dødelighetshendelsen som tidligere ble omtalt i Q3-rapporten.
Store regionale forskjeller
På Færøyene økte driftsinntektene til DKK 1 544 mill. i kvartalet, opp fra DKK 1 184 mill. året før. Det operative driftsresultatet endte på DKK 392 mill., opp fra DKK 310 mill.
I Skottland var bildet motsatt. Driftsinntektene økte til DKK 303 mill. fra 286 mill. kroner, men det operative driftsresultatet var - DKK 97 mill., mot -DKK 31 mill. året før.
Totalt slaktet konsernet 27 891 tonn sløyd vekt i kvartalet, opp fra 20 478 tonn i Q4-2024. |
highlander
17:32
04.05.2026
#50572
|
[Beklager! Nye innlegg er bare tilgjengelig for abonnenter! Allerede registrert? Logg inn eller Gå til registrering og kjøp abonnement!] |
highlander
02:05
06.05.2026
#50585
|
[Beklager! Nye innlegg er bare tilgjengelig for abonnenter! Allerede registrert? Logg inn eller Gå til registrering og kjøp abonnement!] |
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