reports
- Alexander Aukner
Record results, as expected
Bakkafrost reported Q2 operating EBIT of DKK459m, some 3–4% shy of our expectations and consensus, but still an all-time high. We have cut our 2017e EPS by 4.0% on the Q2 earnings and the H2 contract price, which was lower than we expected. We have increased our EPS by 2.5% for 2018e and 0.8% for 2019e as we forecast higher harvest volumes than we did previously. We have increased our target price to NOK360 (NOK350) but downgraded our recommendation to HOLD (BUY) after the solid share price pe...
- Alexander Aukner
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.
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.