P/F Bakkafrost (OTCPK:BKFKF) Q1 2025 Earnings Conference Call May 19, 2025 2:00 AM ET
Company Participants
Hogni Jakobsen – Chief Financial Officer
Regin Jacobsen – Chief Executive Officer
Conference Call Participants
Alexander Aukner – DNB Carnegie
Christian Nordby – Arctic Securities
Operator
Abrupt start
Hogni Jakobsen
…operations and outlook. In this quarter Bakkafrost had revenues of DKK 1.9 billion, a group operational EBIT of DKK 505 million. Our harvest in the Faroe’s increased by 4,600 tonnes compared to same quarter last year and was 19,000 tonnes in total. Harvest in Scotland was 6,300 tonnes, a 1,000 tonnes less than last year. In our fishmeal, oil and feed department, feed sales were up with 4,300 tonnes to around 31,300 tonnes. Fish, external sale of fish oil was nearly none, 1 tonne compared to 4,300 tonnes last year. External sale of fishmeal also reduced to 3,600 tonnes compared to 13,000 tonnes last year and sourcing of marine raw material was 110,000 tonnes compared to 137,000 in the same quarter last year. Cash flow from operations were positive with DKK 590 million and all segments had positive EBIT. On the AGM end of April it was resolved to pay out DKK 8.44 per share in dividends for last year. That will be paid out around 21 May.
Moving on to markets and sales and beginning with the price development in the quarter on the global markets. The average price in this quarter was NOK 92.73 per kilo for 4 to 5 kilos of superior salmon which was 16% lower than last year but 15% higher than previous quarter. Prices were high around Christmas and also continuing into the beginning of this year but dropped quite dramatically in early January and has been following a downwards trend since then. Prices were affected by increased overall global supply but also
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