Atlantic Sapphire share price falls to its lowest level in three years

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Hit on the stock exchange after new high mortality rate.

Atlantic Sapphire announced late Sunday night, in the middle of the Euro 2021 final, of “an incident” at the company’s facility in Hvide Sande, Denmark. This will result in a loss of about 400 tonnes of salmon.

In comparison, the same facility harvested 250 tonnes of salmon in the second quarter.

Pareto Securities noted that the affected systems had the largest fish at the site, and were expected to be harvested in the second half of this year.

The investment bank had included volumes of 1,000 tonnes during this period from the site, which is now likely to be closer to zero, according to an update on Monday,  TDN Direkt reports.

“We had included a contribution to the operating profit of USD 0.8 million from this fish, the company also stated that the direct losses related to the mortality will be three million dollars. The financial impact is limited, but the incident shows that there are still risks associated with land-based fish farming,” the update stated.

Atlantic Sapphire’s share price fell 11.2 per-cent shortly after the stock exchange opened on Monday morning. It was last traded at NOK 78, its lowest level since Christmas 2018.