Bakkafrost U/Adr (BKFKY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

2025, webcasted here from Oslo. My name is Agni Akarsson, CFO of BackerProst. First, I'll ask you to pay attention to our disclaimer regarding forward-looking statements, which is included in the published presentation. This morning we will follow the usual agenda, starting with a summary of the quarter before we move into markets and sales. financials, operations, and outlook. And there are a number of appendices also included in the presentation. So in the fourth quarter, Baccafrost had revenues in excess of 1.8 billion and an operational EBIT of 295 million. Harvest in the Faroes increased 40% to 23,000 300 ton approximately and in Scotland we increased harvest with 19% to 4,600 ton. Our FOF division, fish meal feed and oil in the Faroes increased the sale of fish feed with 22% to around 47,000 ton and fish meal sales were up with 51% to around 2,400 ton. Sourcing of marine raw material slightly down from same quarter last year and came out at around 40,000 ton. Cash flow from operations were positive with 447 million compared to 68 last year. And all segments were positive on EBIT except for the Scottish farming and freshwater segment. The board of directors proposed to the AGM a dividend payment of 3.45 Danish kroner per share. In this quarter, the all-inclusive margins for the group as a whole were 10.59 Danish kroner per kilo. In the Faroes, The margin was 16.81 Danish kroner per kilo. And in Scotland, we have a negative margin of 21.11. If we move on to markets and sale, and beginning with the price development, in Q4, the average spot price for superior 4-5 kilo fish was 82.23 Norwegian kroner per kilo. This was a year-to-year increase of 1.8% and a quarter-to-quarter increase of 29%. The price recovery primarily happened in the second half of the quarter. H...