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Bakkafrost receives operating EBIT of EUR 45,4 million in Q2 2019

Bakkafrost reports on Tuesday morning that the company received operating EBIT of DKK 338.8 million (EUR 45,4 million) in the second quarter of the year.

Harvested volumes were 12.6 thousand tonnes gutted weight. The combined farming and VAP segments made an operational EBIT of DKK 303.4 million. The farming segment made an operational EBIT of DKK 303.4 million. Achieved prices in this quarter increased and thus had a positive effect on the operational EBIT. The VAP segment made an operational EBIT of DKK 0.0 million. The EBITDA for the FOF segment was DKK 58.4 million.

Bakkafrost made a profit for Q2 2019 of DKK 188.6 million (DKK 338.8 million). For H1 2019, the profit was DKK 401.4 million (DKK 611.1 million).

The total volumes harvested in Q2 2019 were 12,609 tonnes gutted weight (12,902 tgw). Total harvested volumes in H1 2019 were 26,316 tonnes gutted weight (25,139 tgw).

3.6 million (2.8 million) smolts were transferred during Q2 2019. In H1 2019, 5.3 million (5.9 million) smolts were transferred.

Commenting on the result, CEO Regin Jacobsen said:

“Even though the salmon price was 9% lower in the second quarter of 2019, compared to Q2 2018, the result for Bakkafrost was good for the second quarter. Bakkafrost is well on track with the investment plan, which includes investments of around DKK 3 billion during the period 2018-2022. An important part of the plan is investments in capacity to produce larger smolts. We now have clear indications from our operation that our large-smolt strategy – together with the use of lumpfish and mechanical (non-medical) sea lice treatments – is working as intended. Our salmon is only treated with lumpfish, pressurized sea water showers and with fresh water. We are very pleased of not having a single site above the threshold level for sea lice during the quarter.”

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