p/f bakkafrost (OTCPK: BKFKF) Q4 2024 Revenue Conference Call, February 17, 2025, 2:00 AM ET
Company Participants
Hogni Jakobsen – Chief Financial Officer
Regin Jacobsen – CEO
Conference participants
Herman Dahl – Nordic Market
Stein Aukner – DNB Market
Christian Nordby – Arctic Securities
Wilhelm Dahl Roe – Danske Bank
Hogni Jakobsen
Good morning, welcome to the fourth quarter Bakkafrost results. My name is Hogni Jakobsen, CFO of Bakkafrost.
First, I will call your attention to a disclaimer regarding forward-looking statements, which are included in the published demonstrations. This morning, we will start with the summary and will provide a summary for the fourth quarter before we continue to market and sales. Our CEO Regin Jacobsen will then take over the segment and prospects operations.
In the fourth quarter, Bakkafrost’s revenue was 1.47 billion dkk and the Group’s operating EBIT was 280 million dkkk280 million. Faros’ harvest was slightly higher than the same quarter last year, with about 16,600 tons. In Scotland, we harvested 3,840 tons, almost four times that of the same quarter last year. Our FOF division has a relatively quiet quarter, and although feed sales have dropped slightly from last year, it sold at 38,900 tons, especially for sale – external sales of fish oil fell to just 11 tons, compared to 5,400 tons in the fourth quarter last year. External fishmeal sales also fell significantly by 87%, down to 1,600 tons, compared with about 12,000 tons in the fourth quarter of last year.
Havsbrún purchased 42,000 tons of marine raw materials this quarter, down from 54,000 tons last year. Last year, as we’ve talked about before, for Havsbrún
