Markets Archive
Måsøval swoops for family firm
The consolidation of Norwegian fish farming companies continued this week with the news that Måsøval AS has bought 100% of the shares in the operating activities of Vartdal Invest AS, which include several aquaculture-related companies. The purchase price is NOK around 1.5 billion – or £128 million. The companies being acquired include Aquafarms Vartdal AS,…
Read MoreSalMar chief upbeat on solid Q3 performance
Fish farming giant SalMar today unveiled a third quarter operating profit (EBIT) of NOK 748 million (£64m) up from NOK 647m (£55m) in the corresponding quarter last year. The harvest volume was 52,100 tonnes, which gives an operational EBIT per kilo of NOK 14.35 (£1.22). However, the results are at least NOK 150m (£12m) lower…
Read MoreNTS group sees revenue double
NTS ASA, the big Norwegian integrated aquaculture group and new owners of Norway Royal Salmon, saw its third quarter revenues double. They totalled NOK 1,369 million (£119m) against NOK 649m (£56m) in the corresponding quarter last year. NTS successfully acquired Norway Royal Salmon at the end of August following a dramatic contest with rivals SalMar.…
Read MoreNorcod on target despite Q3 loss
DESPITE a much larger turnover the fish farming company Norcod has reported a third quarter loss. The figure emerged at a net loss before tax of NOK 8.6m (£748,000) against a pre-tax profit of NOK 10.2m (£886,000) in Q3 2020. The turnover was NOK 15.9m (£1.38m), a vastly significant increase on NOK 0.40m this time…
Read MoreLerøy reports big rise in earnings and profits
Lerøy Seafood, the combined fish farming, processing and conventional trawling group, today reported appreciably higher third quarter earnings and operating profits. Revenue rose from NOK 4,773bn (£415m) last year to NOK 6,325bn (£550m). Operating profit before fair value adjustment related to biological assets was NOK 579m (£50m) compared with NOK 370m £32m in Q3 2020.…
Read MoreMowi unveils higher Q3 sales and profits
MOWI today announced record high third quarter revenues of 1,035 million euros along with increased operating profits. The operational EBIT or profit was €131m compared with €80m for Q3 last year. Regionally , Mowi Scotland also recorded a higher operational EBIT, but lower harvest volumes during the quarter. Biological problems continue, but the company said…
Read MoreNorway Royal Salmon records strong performance
Norway Royal Salmon today announced an increased third quarter operating profit or EBIT of NOK 89m (£7.7m) and an EBIT per kilo of NOK 12.13 (£1.05). The corresponding figures for Q3 last year were NOK 35m (£3m) and NOK 4.21 (£0.36) per kg. Its Iceland based operation, Arctic Fish, performed particularly well, producing a large…
Read MoreBiological issues in Scotland hit Q3 profits at Bakkafrost
Bakkafrost today unveiled a sharp drop in third quarter operating profits, blaming the situation on various problems in Scotland and the Faroe Islands. The group’s operating EBIT was 70.5 million Danish kroner (DKK) or around £8m, against DKK 102.7m (£11.8m) in Q3 last year. The results are well down on what many analysts had been…
Read MoreAKVA revenues, profits hit by Covid and cyber-attack
Aquaculture technology group AKVA has reported Q3 revenues for 2021 down by 8% year on year, with net profit down 22%. Europe and the Middle East (outside the Nordics) and the group’s land-based business were among the few bright spots. The company said the major cyber-attack in January of this year had a negative effect,…
Read MoreAker Biomarine to restructure finances
Aker Biomarine, the biotech innovator and Antarctic krill harvesting company, is planning to restructure its finances next month after reporting a somewhat flat third quarter performance. The company will hold a Capital Markets Day on 1 December, when it will outline its strategy to improve growth and earnings. Aker said it had agreed on a new…
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