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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Bakkafrost    BAKKA   FO0000000179

BAKKAFROST

(BAKKA)
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Delayed Quote. Delayed Oslo Bors - 09/20 10:25:28 am
517 NOK   +1.08%
09/12BAKKAFROST : receives GMO-free certification
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09/05BAKKAFROST : among the Best Performers in Protein Producer Index
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08/26BAKKAFROST : Share Savings Plan Transaction
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Bakkafrost second quarter core profit drops 17%, but beats forecast

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08/20/2019 | 01:07am EDT

OSLO (Reuters) - Bakkafrost reported on Tuesday a smaller-than-expected drop in second-quarter core profit amid lower salmon output and a decline in prices, while the Oslo-listed fish farming company maintained its full-year production forecast.

The company's April-June operational earnings before interest and tax (EBIT) dropped to 339 million Danish crowns (41.56 million pounds) from 408 million crowns in the previous year.

Analysts in a Refinitiv poll had forecast April-June operational EBIT to come in at 309 million crowns.

The price of farmed salmon was 9% lower in the second quarter than a year earlier, while its output fell by 2%, Bakkafrost said.

The salmon farming industry's global production will likely grow less than previously expected, supporting a good outlook for the company's fish farms, the company added.

The company, based in the Faroe Islands, is the first in a series of Oslo-listed fish farmers to report its second-quarter earnings this week, with market leader Mowi and others to follow in the coming days.

While Bakkafrost maintained its own full-year target of producing 54,500 tonnes of fish, the company now believes the industry's global growth will be in a range of 5%-6% in 2019 from 2018, while its previous forecast stood at 5%-7%.

The year-on-year growth in the third quarter will likely be around 5%, down from 8% in the second, Bakkafrost added.

Bakkafrost in June said it expects its fish harvest to surge by about 40% between 2019 and 2023. The company's shares are up 23% year-to-date and have doubled in value since mid-2017.

(Reporting by Terje Solsvik, Editing by Sherry Jacob-Phillips)

Stocks mentioned in the article
ChangeLast1st jan.
BAKKAFROST 1.08% 517 Delayed Quote.20.86%
HARVEST 0.53% 94.5 Real-time Quote.10.53%
MOWI ASA 3.80% 213.1 Delayed Quote.12.37%
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Latest news on BAKKAFROST
09/12BAKKAFROST : receives GMO-free certification
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09/05BAKKAFROST : among the Best Performers in Protein Producer Index
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08/20Bakkafrost second quarter core profit drops 17%, but beats forecast
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08/20BAKKAFROST : Half yearly financial reports and audit reports / limited reviews
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08/14INVITATION TO PRESENTATION/WEBCAST O : 00 am (CET)
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07/26BAKKAFROST : Share Savings Plan Transaction
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Financials (DKK)
Sales 2019 3 827 M
EBIT 2019 1 243 M
Net income 2019 902 M
Debt 2019 578 M
Yield 2019 2,36%
P/E ratio 2019 20,9x
P/E ratio 2020 15,7x
EV / Sales2019 5,06x
EV / Sales2020 4,76x
Capitalization 18 785 M
Chart BAKKAFROST
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Technical analysis trends BAKKAFROST
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TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 395,98  DKK
Last Close Price 385,99  DKK
Spread / Highest target 10,7%
Spread / Average Target 2,59%
Spread / Lowest Target -9,72%
EPS Revisions
Managers
NameTitle
Johan Regin Jacobsen Chief Executive Officer
Rúni M. Hansen Chairman
Sverri Kjærbæk Operations Manager
Gunnar Nielsen Chief Financial Officer
Johannes Jensen Deputy Chairman
Sector and Competitors
1st jan.Capitalization (M$)
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