Bakkafrost receives operating EBIT of DKK 303.4 million in Q3 2019

Bakkafrost reports on Tuesday morning that the company received operating EBIT of DKK 303.4 million in Q3 2019.

Harvested volumes were 12.9 thousand tonnes gutted weight. The combined farming and VAP segments made an operational EBIT of DKK 257.3 million. The farming segment made an operational EBIT of DKK 231.5 million. The salmon spot prices decreased significantly in Q3 2019, compared to the previous quarter. The price decrease had a negative effect on the operational EBIT in the farming segment, while it had a positive effect on the operational EBIT in the VAP segment. The VAP segment made an operational EBIT of DKK 25.9 million. The EBITDA for the FOF segment was DKK 94.5 million.

The Group made a profit for Q3 2019 of DKK 180.9 million (DKK 355.9 million). For the first nine months of 2019, the profit was DKK 582.4 million (DKK 966.9 million).

Commenting on the result, CEO Regin Jacobsen said:

“Despite 10% lower salmon spot prices during the third quarter for 2019, compared to the same quarter last year, Bakkafrost has delivered strong operational results this quarter. The average size of the harvested salmon has been exceptionally high, which has put us in a very good position to withstand the difficult market situation. The biological performance has been very good with high growth rates for the salmon. Sea lice and mortality rates have been mongst the lowest for many years. This is a result of committed and skilled employees and a strong effort on a continuous improvement of the biology and the welfare of the salmon.”

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