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Grieg Seafood ASA (GSFO.OL)

GSFO.OL on Oslo Stock Exchange

73.25NOK
8 Dec 2017
Change (% chg)

kr-2.25 (-2.98%)
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kr75.50
Open
kr75.75
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kr76.00
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Volume
458,044
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508,172
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kr87.25
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Latest Key Developments (Source: Significant Developments)

Grieg Seafood: Nordea Markets upgrades to hold from sell
Thursday, 9 Nov 2017 

Nov 9 (Reuters) - :Grieg Seafood <<>>: Nordea Markets upgrades to hold from sell after Wednesday's Q3 report, sees fair value at NOK 83/share.Refers to Grieg's reported EBIT of NOK 229 million, beating consensus estimates by a solid 18 percent nFWN1NE00VnO9N1ML01U.Volumes were in line with expectations, while EBIT per kilo was higher, Nordea says .The NOK 1 extraordinary dividend and growth outlook were the most interesting aspects of the report.Guidance is for a whopping 17 percent volume growth for 2018. Total expected release of 26 million smolt should take harvested volumes to 104,000 tonnes as early as 2019, Nordea Markets predicts.  Full Article

Grieg Seafood CEO sees output of 100,000 tonnes in 2020
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - Grieg Seafood Q3 earnings presentation on Wednesday::CEO Andreas Kvarme says "clear target" of raising output to 100,000 tonnes in 2020 (from 66,000 tonnes in 2017).Raising capacity utilisation is main focus, company is now at 77 pct of capacity.Clear goal of cost level in line with, or below, industry average.  Full Article

Grieg Seafood announces surprise dividend as Q3 beats forecast
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - Grieg Seafood Asa :To pay dividend OF NOK 1 per share. The Board's consideration is that it will be defensible to pay a dividend based on a good cash flow and strengthened balance‍.planned volume growth of 17% to 77,000 tons in 2018​.q3 harvest 16,875​ tonnes (reuters poll 16,680 tonnes).q3 revenue nok ‍1,855​ million (Reuters poll nok 1,519 million).q3 ebit before adjustment nok 229.3‍​ million (Reuters poll nok 187 million).2017 harvest guidance ‍66​,000 tonnes versus 67,000 tonnes seen in august (reuters poll 66,765 tonnes).‍contract share for q4 is estimated to 18 %​.‍harvest volume for q4 2017 is expected to be 22,100 tons​.Grieg seafood's financial position is regarded as solid and available liquidity at end of quarter was strong. Based on this, board of directors has approved a special dividend of nok 1.00 per share​.‍demand for salmon is expected to increase as christmas season approaches, which normally leads to higher prices in q4​.‍in longer term, relationship between supply and demand is likely to be stable, giving grounds to expect a continuation of good prices for salmon in marketplace​.‍so far, contracts have been signed for 22 % of norwegian harvest volume for 2018​.Expects growth in global salmon industry harvest of 7 percent in 2018‍​.Expects growth in global salmon industry harvest of 3 percent in 2019​.To make next dividend assessment after q4 2017.  Full Article

BRIEF-Grieg Seafood announces surprise dividend as Q3 beats forecast
Wednesday, 8 Nov 2017 

Repeats to attach to additional alert:To pay dividend OF NOK 1 per share. The Board's consideration is that it will be defensible to pay a dividend based on a good cash flow and strengthened balance‍.planned volume growth of 17% to 77,000 tons in 2018​.q3 harvest 16,875​ tonnes (reuters poll 16,680 tonnes).q3 revenue nok ‍1,855​ million (Reuters poll nok 1,519 million).q3 ebit before adjustment nok 229.3‍​ million (Reuters poll nok 187 million).2017 harvest guidance ‍66​,000 tonnes versus 67,000 tonnes seen in august (reuters poll 66,765 tonnes).‍contract share for q4 is estimated to 18 %​.‍harvest volume for q4 2017 is expected to be 22,100 tons​.Grieg seafood's financial position is regarded as solid and available liquidity at end of quarter was strong. Based on this, board of directors has approved a special dividend of nok 1.00 per share​.‍demand for salmon is expected to increase as christmas season approaches, which normally leads to higher prices in q4​.‍in longer term, relationship between supply and demand is likely to be stable, giving grounds to expect a continuation of good prices for salmon in marketplace​.‍so far, contracts have been signed for 22 % of norwegian harvest volume for 2018​.Expects growth in global salmon industry harvest of 7 percent in 2018‍​.Expects growth in global salmon industry harvest of 3 percent in 2019​.To make next dividend assessment after q4 2017.  Full Article

Grieg Seafood Q4 EBIT in line with forecasts, plans NOK 3 dividend
Thursday, 16 Feb 2017 

Grieg Seafood Asa : Grieg seafood q4 ebit before adjustment nok 456 million (Reuters poll nok 450 million) . Grieg seafood plans dividend of nok 3 per share . Grieg seafood q4 revenue nok 2,069 million (Reuters poll nok 2.0 billion) . Grieg seafood 2017 harvest guidance 70,000 tonnes versus 70,000 tonnes seen in January (Reuters poll 69,600 tonnes) . Harvest forecast for 2017 was cut in January by 3,000 tonnes due to an outbreak of ISA in Finnmark . Harvest volume in q1 2017 is likely to be 8,400 tons . A stated goal is to reduce cost level to industry average, or lower. Company will also be aiming to increase production by 10% annually in period 2018-2020 . In a global perspective, there are expectations of limited supply-side growth in salmon market. There is strong underlying demand for salmon and good prices are therefore expected in 2017 . All employees will receive an extra bonus on top of existing bonus agreements. This cost is included in q4 figures . Salmon sold on fixed price contracts stood at 32% in q4 2016, and this was a factor which reduced level of realised prices. This proportion is expected to be around 60% in q1 2017 .Increase in proportion of fixed price contracts must be considered in light of a low harvest volume in q1.  Full Article

Grieg Seafood beats Q2 earnings forecast, cuts output guidance
Thursday, 18 Aug 2016 

Grieg Seafood Asa : q2 ebit before biomass fair value adjustments nok 312 million (Reuters poll nok 295 million) . q2 revenue nok 1.68 billion (Reuters poll nok 1.51 billion) . 2016 harvest guidance cut to tonnes (previous guidance 70,000 tonnes) and versus 68,844 tonnes in Reuters poll . has an ongoing focus on improving operational efficiency, and this involves both increasing production per plant and per licence, as well as reducing costs per kilo . One of key steps being taken is to set out bigger smolt, which will make it possible to shorten production time in sea . There is strong underlying demand for salmon and good prices are therefore expected during remaining months of 2016 and into 2017 . Sale of Grieg's UK activities has been considered, but improvement in operations in region has not been reflected to a sufficient extent in offers received . Company will be aiming to increase production by 10% annually in period 2017-2019 . A harvest volume of 13,500 tons is expected in q3 . A significantly higher harvest volume is planned for q4 . The U.S. market is expected to develop particularly well in second half of 2016 due to a reduction in offers from Chile .Market may however come under sporadic pressure during some weeks in course of q3 2016, which could result in lower prices during these periods.  Full Article

Grieg Seafood Q1 beats forecast, proposes dividend
Thursday, 12 May 2016 

Grieg Seafood : Grieg seafood q1 ebit before biomass fair value adjustments nok 214 million (Reuters poll nok 173 million) . Grieg seafood repeats 2016 harvest guidance of 70,000 tonnes . Board propose a dividend nok 0.5 per share, equal to last year's payout . There are expectations of a decline in supply-side offers, presenting prospect of a strong salmon market in period ahead. This also applies in the U.S. market . Grieg seafood q1 revenue nok 1.3 billion (Reuters poll nok 1.12 billion) . Aims for 10 pct annual increase in production 2017-2019, increasing biomass in 2016 . Says strategic review of shetland operations ongoing .Says aims to bring costs down to industry average, or lower.  Full Article

Price of Norwegian farmed salmon seen falling to around NOK 45 next week

OSLO, Dec 8 The price of Norway's farmed salmon is expected to drop to around 45 crowns ($5.41) per kilo next week for deliveries in Oslo next week, industry sources told Reuters.