Bakkafrost U/Adr (BKFKY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

by Rein Jakobsen, which will take over the presentation in a while. So the agenda this morning we will come to after paying a short notice to our disclaimer on forward-looking statements. You can read it entirely. It's included in the published version of the presentation. So the agenda is the usual agenda, first the summary of the quarter, then we look into markets and sales, moving on to finance, operations, and then finally outlook. So an overview of the third quarter for Backer Frost. Our revenues in this quarter were 1.7 billion. We had a group operational EBIT of 22 million. The harvest in the Faroes was up by 17.5% to 25.4 kiloton. In Scotland, we were on a similar level as in the same quarter last year, 5.3 thousand ton. Fish meal oil and feed division at Hafsbrunn, the feed sales were up 18% to around 49 thousand ton. We sold no fish oil. Fish meal sale was down by 45% to around 5.1 thousand tonne. Sourcing of marine raw material was on the same level as last year, around 40,000 tonne. Cash flow from operation were positive with 245 compared to 575 last year. And we had positive EBIT in the fish, meal, oil and feed segment, the freshwater segment in the Faroes, services and sales and other. If we look at margins on a high level and regional level, These are all inclusive margins by the way. The margin for the group was 0.72 Danish kroner per kilo compared to 6.38 the same quarter last year. In the Faroes, the margins were 8.93 Danish kroner per kilo compared to 14.35 per kilo last year. In Scotland, margins were negative with 38.72 Danish kroner per kilo. And then moving on to markets and sales, and beginning with the price development. The Selma prices in this quarter were affected by a large increase in the overall supply. Average prices for four to five k...