Bakkafrost posts strong earnings despite drag from poor Scotland performance

Bakkafrost Group posted total operational earnings before interest and taxes (EBIT) of DKK 325 million (USD 42.8 million, EUR 43.7 million) for Q3 2022 – more than quadrupling the DKK 71 million (USD 9.3 million, EUR 9.5 million) delivered a year previously.

In the quarter, the Faroe Islands-based salmon-farming firm achieved a Q3 2022 profit of DKK 249 million (USD 32.8 million, EUR 33.5 million), up from DKK 131 million (USD 17.3 million, EUR 17.6 million). However, Bakkafrost CEO Regin Jacobsen said that while the group was satisfied with the results from its farming in the Faroe Islands in the quarter, it was disappointed in its Scottish farming segment's performance ...   

Photo courtesy of Bakkafrost