Markets Archive
Atlantic Sapphire Q1 harvest down as losses mount
Land-based salmon producer Atlantic Sapphire has unveiled less-than-spectacular harvest figures in its 2021 first quarter trading update. The company, best known for its Miami Bluehouse salmon says just 721 tonnes were produced during the three month period, 421 tonnes from Florida, USA and 300 tonnes from Denmark. The company was hit by technical issues in…
Read MoreProfits and return on capital soar for AKVA
Aquaculture technology and services group AKVA has recorded a “respectable performance” for 2020 despite Covid-19. The company’s annual report records increased revenues and operating profits, along with a higher return on capital employed. Financial highlights include: Revenues increased by 3% to NOK 3,177m (£274m); EBIT was up from NOK 62m (£5.3m) in 2019 to NOK…
Read MoreNordic Halibut opts for private placement
Fish farmer Nordic Halibut this week resumed plans for an Oslo Stock Exchange listing by submitting an application to join the Euronext Growth market. The company surprised many by withdrawing plans for a public offering last month, but has now chosen to go for a private placement with selected investors. The company said the current owners…
Read MoreSalMar green bond issue raises NOK 3.5bn
Fish farming giant SalMar has raised 3.5 billion kroner (£300m) in a new green funding loan – almost a third more than originally planned. The company said the unsecured green bond was significantly oversubscribed and the result far larger than expected. An application will now be made to list the bond loan on the Oslo…
Read MoreLerøy Seafood harvest volumes up 7% in Q1
The Lerøy Seafood Group announced today that its harvest volumes increased by 7% during the first three months of this year. The upbeat message was delivered in a trading update. The company ended the first quarter with a harvest total of 42,100 tonnes of salmon and trout, against 39,400 tonnes during the same period last year.…
Read MoreBakkafrost shareholders to get £25m in dividends
Faroese fish farmer Bakkafrost is paying its shareholders around £25m in dividends for 2020. The decision was reached at the company’s annual meeting last week and the dividend is expected to be paid on 30 April. Bakkafrost is the largest salmon producer and the biggest private employer on the Faroe Islands. It also has operations…
Read MoreSalMar Q1 production falls in Norway and Iceland
Norwegian salmon farmer SalMar harvested 36,900 gutted weight tonnes of salmon in Norway and Iceland in the first quarter of this year, the company reports. SalMar’s market update for Q1 2021 states that production by weight was down 15.4% on the previous quarter’s 43,600 tonnes. The breakdown by region was: central Norway 20,800 gwt; northern…
Read MoreBakkafrost reports year on year rise in output for Q1
Faroese salmon farmer Bakkafrost is forecasting a 17% higher total harvest for the first three months of this year. In a Q1 trading update, the group said output for both the Faroe Islands and Scotland will reach 21,000 tonnes, compared to 18,000 tonnes over the same period last year. The increase in production was seen…
Read MoreRussian Aquaculture sees volume up, profits down
Russia’s largest commercial fish farmer, Russian Aquaculture, has reported record sales volumes and a strengthened balance sheet for 2020, but profits are down on the previous year. Russian Aquaculture’s sales volume for 2020 was 15,510 tonnes, up 9% on 2019. Revenue, however, was down 5% to RUB 8,336m and operating profit was down 13% to…
Read MoreGrieg values Shetland business at £125m
GRIEG Seafood has placed a total net asset value on its ‘for sale’ Shetland business at 1,481 million kroner – or £125m. The figure was published at the weekend in the company’s 2020 annual report. Grieg said it still intends to sell the operation and expects to complete the process this year, although it did…
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