Icelandic Salmon (Buy, TP: NOK180.00) - Biomass built in Q2
Operating EBIT was NOK-35m, in line with our estimate of NOK-36m. With 0.1kt harvest in Q2, the quarterly numbers are of less relevance. The company plans a dual listing on the First North stock exchange in Iceland during H2. Cost guidance was stable for Q3 but lower for Q4, following strong biological performance of the spring 2022 generation; 2023 volume guidance is unchanged at 16kt. We have made minor changes to estimates and reiterate our BUY and NOK180 target price.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.