May 7, 2018 / 4:15 AM / 5 months ago

BRIEF-Bakkafrost Q1 lags forecast as weak-performing sites harvested

May 7 (Reuters) - Bakkafrost:

* BAKKAFROST Q1 OPERATIONAL EBIT DKK 268.2 MILLION (REUTERS POLL DKK 293 MILLION)

* HARVESTED FISH FROM FARMING SITES WITH WEAKER PERFORMANCE IN Q1 OF 2018, AFFECTING PRODUCTION COSTS NEGATIVELY IN QUARTER

* HARVESTED Q1 VOLUMES WERE 12.2 THOUSAND TONNES GUTTED WEIGHT (REUTERS POLL 12.2 THOUSAND TONNES)

* BAKKAFROST EXPECTS TO HARVEST 51,000 TONNES IN 2018 (REUTERS POLL 51,000) VERSUS FEB FORECAST 51,000 TONNES

* BAKKAFROST EXPECTS TO RELEASE 13.9 MILLION SMOLTS IN 2018, COMPARED WITH 9.9 MILLION SMOLTS IN 2017 AND 11.7 MILLION SMOLTS RELEASED IN 2016

* BAKKAFROST Q1 REVENUES DKK 851 MILLION (REUTERS POLL DKK 783 MILLION)

* GLOBAL HARVEST GROWTH IS EXPECTED TO BE AROUND 4% IN 2018

* REST OF YEAR HARVEST GROWTH IS EXPECTED TO BE AROUND 2%

* HAS SIGNED CONTRACTS COVERING AROUND 13% OF EXPECTED HARVESTED VOLUMES FOR REST OF 2018 Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

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