Strong Q2 earnings from Bakkafrost

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The Faroese farming company earned € 61.7m on operations in the second quarter of the year after slaughtering 18,400 tonnes of salmon.

This corresponds to an EBIT of € 3.60 per kilo, the company writes in a stock exchange announcement Tuesday morning.

CEO Regin Jacobsen is pleased with the quarterly results. 

“Bakkafrost’s three segments all had a very high activity level in the second quarter of 2017. Havsbrún received a record volume of 163,100 tonnes of raw material. The Farming segment harvested a record volume of 18,400, and the VAP segment produced 5,300 tonnes,” Jacobsen added.

“Bakkafrost focuses on increasing sustainable premium quality salmon with an emphasis on animal welfare and conservation of the environment. In May, production site A-71 Funningsfjørður was certified by the ASC, and Bakkafrost aims to have all its fish farms ASC certified by 2020.”

Bakkafrost expects to slaughter 53,500 tonnes of salmon on an annual basis in 2017.