Satisfying, Bakkafrost reports

The Bakkafrost Group delivered a total operating EBIT of DKK 186.8 million in Q3 2013. The combined farming and VAP segment made an operational EBIT of DKK 167.9 million in Q3 2013. The salmon spot prices were high during the first two months of the quarter followed by a decrease in September. Because of the continued strong spot prices overall in the quarter, the VAP segment had an operating loss of DKK -19.6 million.

The EBITDA for the feed segment was DKK 48.8 million in Q3 2013.

Commenting on the results, CEO Regin Jacobsen said: " We are satisfied with the performance and result for Q3 2013. The strong salmon prices especially in July and August and a good biology are the main reasons for the strong result. The Farming operation delivers a continuing strong performance, while the VAP production still have negative operating results, because of the high spot prices. However we are very satisfied with the production efficiency in VAP segment. The Fish meal, oil and feed segment had also a strong performance as the raw material intake is substantial higher then same period in 2012".

The Group made a profit for the quarter of DKK 199.6 million (DKK 25.8 million). For the first nine months of 2013, the profit was DKK 451.4 million (DKK 133.2 million). The total volumes harvested in Q3 2013 were 11,335 tonnes gutted weight (9,730 tgw). The total harvested volumes the first nine months of 2013 were 30,171 tonnes gutted weight (31,297 tgw).

Bakkafrost transferred 2.8 million smolts in Q3 2013 (3.6 million), which is in line with the company's plans. Year to date 6.7 million have been transferred (8.4 million). The smolt release is less in 2013, compared to 2012, due to available sites for smolt release.