Q2 in line with expectations
Bakkafrost reported Q2 adj EBIT of DKK459m (4% below Financial Inquiry consensus of DKK475m, 3% below our forecast of DKK475m) and EBIT/kg of DKK25 (3% below consensus of DKK25.9, 3% below our forecast of DKK25.8). Harvest volumes in the quarter were 18.4kt (spot on consensus and our forecast). We expect no major changes to consensus or the share price, as we consider the report to be in line with expectations.
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.
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