Posts Tagged ‘Bakkafrost’
Bakkafrost plans bid for all SSC shares
BAKKAFROST plans to bid for the entire shareholding of the Scottish Salmon Company, its chief executive said today. Yesterday, the Faroe Islands’ largest salmon farmer announced it had acquired a 68.6 per cent stake in SSC from Northern Link in a deal worth £517 million. But CEO Regin Jacobsen said in a presentation at the…
Read MoreBakkafrost buys Scottish Salmon Company
THE Faroese salmon farmer Bakkafrost has bought a majority share in the Scottish Salmon Company (SSC), it was announced this afternoon. Bakkafrost acquired 68.6 per cent of SSC from Northern Link, ending much speculation in the industry after the company was put up for sale in July. Listed on the Olso Stock Exchange seafood index,…
Read MoreBakkafrost reports sea lice fight success
THE Bakkafrost group disclosed today that its policy of using non-medical methods was achieving considerable success in the fight against sea lice. As the Faroese salmon farmer unveiled its second quarter results for 2019, chief executive Regin Jacobsen told investors that there were clear indications that its large smolt strategy, together with the use of…
Read MoreSSC suitors ‘could come from outside industry’
BIDS for the Scottish Salmon Company could come from outside the industry, a leading Norwegian seafood analyst has suggested. As speculation continues to mount, Carl-Emil Kjølås Johannessen, who works for the Nordic financial services company Pareto, said there could be a number of potential buyers for the business, but ruled out Mowi as he believes…
Read MoreBakkafrost’s ‘clever way’ to create 40% growth
THE Faroe Islands’ biggest salmon farmer, Bakkafrost, expects volume growth of 40 per cent over the next four years, CEO Regin Jacobsen said today. The increase of 22,000 tonnes, to 76,000 tonnes, will be driven partly by larger smolt and the newly developed Suduroy cluster of farms in the south. When Bakkafrost’s Strond smolt plant…
Read MoreFaroese farmer focuses on sustainability
INVESTMENT, sustainability and ever increasing efficiency – these are among the priorities spelt out by Bakkafrost chairman Runi M. Hansen as the Faroese salmon farming company prepares to meet growing future global demand for fish protein. Bakkafrost, he said, has been on an exciting journey for the past couple of years, with a high focus…
Read MoreBigger smolts to drive Bakkafrost growth
THE Faroese fish farmer Bakkafrost has outlined two important developments in its annual sustainability and financial reports, published yesterday. First, there will be a significant increase in the number, and size, of smolts released this year. About 12.6 million smolts were released during 2018 and 9.9 million in 2017. The company now plans to raise…
Read MoreBakkafrost hit by ‘difficult conditions’
THE Faroese salmon farming company Bakkafrost today announced lower than expected results for the final quarter of 2018, blaming ‘difficult market conditions’. Total operating income before interest and tax (EBIT) fell by almost a third to 230.5 million Danish kroner (DKK) compared to DKK 331.2 million in Q4 2017. But harvested volumes were up from…
Read MoreFaroese salmon exports down, cod up
EXPORTS of farmed salmon from the Faroe Islands have shown a significant decline during the first eight months of this year. Recent figures show that salmon sales – the islands’ most valuable seafood commodity – are down by 17 per cent or £51 million to a total of around £295 million over the period. There…
Read MoreBakkafrost upbeat despite higher costs
INCREASED costs involved in dealing with a high number of fish deaths from poisonous algae in September and lower salmon prices during the summer have impacted on Bakkafrost’s 2018 third quarter results. The Faroe Islands’ largest salmon farming company today announced mixed results, with a total third quarter EBIT (earnings before interest and tax) of…
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