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P/F Bakkafrost (OTCPK:BKFKF) This autumn 2024 Earnings Convention Name February 17, 2025 2:00 AM ET
Firm Individuals
Hogni Jakobsen – Chief Monetary OfficerRegin Jacobsen – Chief Govt Officer
Convention Name Individuals
Herman Dahl – Nordea MarketsStein Aukner – DNB MarketsChristian Nordby – Arctic SecuritiesWilhelm Dahl Roe – Danske Financial institution
Hogni Jakobsen
Good morning, and welcome to the presentation of Bakkafrost’s Outcomes for the Fourth Quarter. My identify is Hogni Jakobsen, CFO of Bakkafrost.
First, I am going to ask you to concentrate to our disclaimer relating to forward-looking assertion, which is included within the printed presentation. This morning, we are going to begin by a abstract, offering a abstract of the fourth quarter earlier than we transfer on to markets and gross sales, financials. After which our CEO, Regin Jacobsen, will take over and undergo the operations within the segments and the outlook.
Within the fourth quarter, Bakkafrost had revenues of DKK1,470 million and group operational EBIT was DKK280 million. Faroese harvest was barely larger than the identical quarter final 12 months, got here out at 16,600 tonnes roughly. And in Scotland, we harvested 3,840 tonnes, virtually 4 occasions the amount the identical quarter final 12 months. Our FOF division had a comparatively quiet quarter, though feed gross sales had been barely down from final 12 months, got here out at 38,900 tonnes, particularly the sale — exterior sale of fish oil was lowered to solely 11 tonnes, in comparison with 5,400 tonnes within the fourth quarter of final 12 months. And exterior fishmeal gross sales additionally dropped considerably 87%, right down to 1,600 tonnes, in comparison with round 12,000 tonnes within the fourth quarter of final 12 months.
Havsbrún sourced 42,000 tonnes of marine uncooked materials on this quarter, down from 54,000 tonnes final 12 months. Final 12 months, as we have now talked about earlier than, was an distinctive 12 months for Havsbrún with greater than 50% larger marine sourcing than in a traditional
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