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UPDATE 2-Bakkafrost fish farming volume in line with guidance, feed sales below
January 3, 2018 / 6:35 AM / 13 days ago

UPDATE 2-Bakkafrost fish farming volume in line with guidance, feed sales below

(Adds comment from Sparebank 1 Markets)

Jan 3 (Reuters) - P/F Bakkafrost:

* ‍Harvest volumes in q4 2017 were 11.4 thousand tonnes, all of it from farming west (none from farming north)

* Total harvested volumes for 2017 were 54.5 thousand tonnes, in line with Bakkafrost’s Nov. 14 guidance​

* ‍Feed sales in q4 2017 were 19.0 thousand tonnes

* Total 2017 feed sales 78.2 thousand tonnes vs guidance of 80.0 thousand tonnes from Nov. 14

* Havsbrun sourced 51.3 thousand tonnes of raw materials in q4 2017​

* ‍Full q4 2017 report will be released on 20 February 2018

* Sparebank 1 Markets analyst Tore Toenseth says: We expect just minor changes to our estimates

* For 2018, Sparebank 1 Markets continues to see major downside in current Bakkafrost estimates, and is currently positioned 20-30 pct below consensus on EBIT level. Reiterates Sell recommendation Source text for Eikon: Further company coverage: (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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