Q2 EBIT in line, but on higher harvest
Q2 EBIT adj. was NOK136m (2% below Bloomberg consensus of NOK139m, 1% below our forecast of NOK137m) and EBIT/kg was NOK25.9 (12% below consensus of NOK29.4, 11% below our forecast of NOK29.2). Harvest volumes in the quarter were 5.2kt (9% above consensus of 4.772kt, 11% above our forecast of 4.7kt). We expect only limited changes to consensus and the share 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.
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