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Grieg Seafood ASA (GSFO.OL)

GSFO.OL on Oslo Stock Exchange

113.60NOK
1:19pm GMT
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kr6.70 (+6.27%)
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kr106.90
Open
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kr113.60
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Volume
268,950
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412,884
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kr131.90
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kr65.95

Latest Key Developments (Source: Significant Developments)

Grieg Seafood eyes sharp growth until 2020, sets NOK 2 dividend
Wednesday, 7 Nov 2018 

Nov 7 (Reuters) - Grieg Seafood ASA ::2018 HARVEST GUIDANCE 75,000 TONNES (VERSUS PREVIOUS GUIDANCE OF 75,000 TONNES FROM Q2 REPORT).EXPECT HARVEST VOLUME OF 82,000 TONNES IN 2019.BY 2020, GRIEG SEAFOOD AIM TO INCREASE PRODUCTION TO REACH AN ANNUAL HARVEST VOLUME OF 100,000 TONNES AND A PRODUCTION COST AT OR BELOW WEIGHTED INDUSTRY AVERAGE, TARGETING NOK 37.90/KG.Q3 HARVEST 16,941 TONNES VERSUS OCT 24 PRELIMINARY REPORT 16,940 TONNES.Q3 EBIT BEFORE BIOMASS ADJUSTMENT NOK 160 MILLION VERSUS OCT 24 PRELIMINARY REPORT NOK 159 MILLION.DIVIDEND OF NOK 2 PER SHARE.TOTAL OPERATING INCOME IN Q3 2018 AMOUNTED TO NOK 1,589 MILLION, A REDUCTION OF 14 PERCENT COMPARED TO SAME PERIOD LAST YEAR.CONTINUALLY UNDERTAKES COST-REDUCING INITIATIVES, AND TO ENSURE PROGRESS TOWARDS ITS GOALS, HAS INITIATED GSF 2020 IMPROVEMENT PROGRAM, WITH SPECIFIC TARGETS AND INITIATIVES FOR EACH REGION.RISE IN DEMAND DUE TO CHRISTMAS SEASON WILL MOST LIKELY CONTRIBUTE TO STRONG MARKET PRICES FOR LAST QUARTER OF 2018.CURRENT SITUATION, WITH LIMITED SUPPLY GROWTH AND STRONG UNDERLYING DEMAND, IS EXPECTED TO CONTINUE.EXPECTS TO HARVEST APPROXIMATELY 24,100 TONNES IN Q4 2018.EXPECTS GLOBAL SALMON HARVEST TO GROW 4-5 PERCENT IN 2018 VERSUS EARLIER VIEW 6 PERCENT, SEES 2019 GROWTH 3-5 PERCENT.EXPECTS TO TRANSFER 26-28 MILLION SMOLT TO SEA IN 2019.FOR Q4 THE SHARE OF FIXED PRICE CONTRACTS IS ESTIMATED TO BE 24%, WITH AN ESTIMATE OF 31% FOR THE FULL YEAR.  Full Article

Grieg Seafood warns on Q3 earnings
Wednesday, 24 Oct 2018 

Oct 24 (Reuters) - Grieg Seafood ASA ::Q3 2018 OPERATIONAL UPDATE.DURING Q3 AN INCREASE IN GILL RELATED DISEASES IN SHETLAND AND RECURRING INCIDENTS OF HARMFUL ALGAL BLOOM IN BC.CONSEQUENTLY, Q3 EARNINGS FROM TWO REGIONS HAVE WEAKENED (TOTAL WRITE-DOWN OF NOK MILLION 50 IN BC AND SHETLAND DUE TO REDUCED SURVIVAL RATE TOWARDS END OF Q3 2018).NORWEGIAN OPERATIONS HAS PERFORMED BETTER THAN EXPECTED DURING QUARTER.PRELIMINARY FIGURES FOR Q3 2018 INDICATES A TOTAL HARVEST VOLUME FOR GRIEG SEAFOOD OF 16,940 TONNES AND A GROUP EBIT PER KILO OF NOK 9.43.BIOLOGICAL PERFORMANCE IN BOTH FINNMARK AND ROGALAND HAVE BEEN GOOD, AND COSTS CONTINUED TO DECLINE.IN ADDITION, GSF FINNMARK GOT TWO NEW LOCATIONS IN Q3, IMPROVING CAPACITY UTILIZATION IN AREA. QUARTERLY EARNINGS IN ROGALAND ARE LOW DUE TO PLANNED LOW HARVEST VOLUMES.  Full Article

Grieg Seafood affirms 2020 volume target
Wednesday, 5 Sep 2018 

Sept 5 (Reuters) - Grieg Seafood ASA ::REG-GRIEG SEAFOOD ASA CAPITAL MARKETS UPDATE: 2020 VOLUME TARGET REAFFIRMED, ENSURING A PLATFORM FOR SUSTAINABLE GROWTH.AIMING FOR A PRODUCTION COST IN LINE WITH OR BELOW WEIGHTED INDUSTRY AVERAGE, TARGETING NOK 37.90/KG BY 2020.EXPECTS INCREASING HARVEST VOLUMES TO 100,000 TONNES IN 2020.  Full Article

Grieg Seafood Q2 profit beats forecast, cuts 2018 output forecast
Wednesday, 22 Aug 2018 

Aug 22 (Reuters) - Grieg Seafood ASA ::Q2 EBIT BEFORE ADJUSTMENT NOK 426.3 MILLION (REUTERS POLL NOK 412 MILLION).Q2 HARVEST 22,568 TONNES (REUTERS POLL 21,189 TONNES).GRIEG SEAFOOD 2018 HARVEST GUIDANCE 75,000 TONNES (REUTERS POLL 78,471 TONNES).FULL YEAR HARVEST ESTIMATE HAS BEEN REDUCED BY 5,000 TONNES DUE TO PD IN ROGALAND AND ALGAL BLOOM IN BC.GRIEG SEAFOOD Q2 REVENUE NOK 2,318.7 MILLION (REUTERS POLL NOK 2,214 MILLION).GRIEG SEAFOOD: OVERALL GOAL IS TO MAINTAIN ANNUAL PRODUCTION GROWTH OF MINIMUM 10 PERCENT UNTIL 2020 VERSUS EARLIER MINIMUM 10 PERCENT.SUPPLY GROWTH IS LIMITED AND EXPECTED TO STABILIZE GOING FORWARD.STRONG UNDERLYING DEMAND FOR SALMON IS LIKELY TO CONTINUE, AND PRICES ARE EXPECTED TO REMAIN STRONG FOR REST OF 2018.EXPECTS TO HARVEST APPROXIMATELY 17,100 TONNES IN Q3.FOR Q3 SHARE OF FIXED PRICE CONTRACTS IS ESTIMATED TO BE 31%, WITH AN ESTIMATE OF 30% FOR FULL YEAR.GRIEG SEAFOOD EXPECTS GLOBAL SALMON HARVEST TO GROW 6 PERCENT IN 2018 VERSUS EARLIER VIEW 4 PERCENT.  Full Article

Grieg Seafood CEO says 2018 forecast of 4 pct global salmon supply growth may be too optimistic
Tuesday, 15 May 2018 

May 15 (Reuters) - Grieg Seafood ASA ::GRIEG SEAFOOD CEO SAYS COMPANY'S 2018 FORECAST OF 4 PERCENT GROWTH IN GLOBAL SALMON SUPPLY MAY BE TOO OPTIMISTIC.ESPECIALLY FOR NORWAY, WHERE THE 2018 GROWTH FORECAST IS 6 PERCENT, COULD BE TOO HIGH, CEO ANDREAS KVAME TOLD A Q1 EARNINGS PRESENTATION.  Full Article

Norway's Grieg Seafood proposes dividend of NOK 2.0/share
Tuesday, 17 Apr 2018 

April 17 (Reuters) - Grieg Seafood ASA ::BOARD HAS TODAY 17 APRIL 2018 PROPOSED A DIVIDEND OF NOK 2.00 PER SHARE.ANNUAL GENERAL MEETING IS SCHEDULED TO 12 JUNE 2018, AND GIVEN APPROVAL, SHARES WILL BE QUOTED EX-DIVIDEND FROM 13 JUNE 2018..BOARD HAS RESOLVED TO REQUEST THAT AUTHORISATION PROVIDED BY ANNUAL GENERAL MEETING IN 2017 TO PAY ADDITIONAL DIVIDEND LATER IN YEAR, IS CARRIED OVER..  Full Article

Grieg Seafood wins conditional approval of "Blue Farm" development project
Friday, 29 Dec 2017 

Dec 29 (Reuters) - Grieg Seafood ::The Norwegian Directorate of Fisheries has granted Grieg Seafood conditional approval for its "Blue Farm" salmon development concept.Grieg Seafood has applied for 10 development licenses, each of 780 tonnes of salmon, to use for its "Blue Farm" concept .The Norwegian Directorate of Fisheries says the next step in the process is to decide how many development licenses it will hand out to Grieg's "Blue Farm" concept.Development licenses are part of an initiative by the Norwegian Industry and Fisheries Ministry to spur growth in Norway's salmon production.To be awarded a license under the scheme, companies must show that their plans bring technological innovation while also adhering to strict environmental and animal welfare procedures.  Full Article

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

Norway salmon price seen falling on weak demand

OSLO, Dec 14 The price of Norwegian farmed salmon is expected to drop next week due to weak pre-Christmas demand, three industry sources told Reuters on Friday.