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Grieg Seafood ASA (GSFO.OL)

GSFO.OL on Oslo Stock Exchange

66.40NOK
24 May 2017
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Latest Key Developments (Source: Significant Developments)

Grieg Seafood and Norway Royal Salmon to jointly secure smolt production in Finmark
Tuesday, 16 May 2017 02:00am EDT 

May 16 (Reuters) - Grieg Seafood Asa and Norway Royal Salmon :Have joined forces to ensure smolt capacity in Finnmark by entering as owners of Nordnorsk Smolt as with 50 per cent each.Says the plant has a production capacity of 800 tonnes per year, corresponding to an annual production of about 3.2 million fish weighing 250 grams.Transaction values company at an enterprise value (ev) of approximately NOK 100 million.Says the acquisition will "ensure good access to big smolt which will contribute to better production optimization and shorter production time in sea".Says the investment is in accordance with companies' strategy to strengthen smolt production.  Full Article

Grieg Seafood's board proposes dividend of NOK 3 per share
Monday, 3 Apr 2017 05:20pm EDT 

Grieg Seafood Asa : Reg-Grieg seafood asa: board's approval of final accounts 2016 and proposal for dividend, NOK 3 . Board proposed a dividend of NOK 3 per share .Date of payment of dividend if given approval is 22 June 2017.  Full Article

Grieg Seafood CEO, COO bought 11,800 shares
Friday, 17 Feb 2017 03:47am EST 

Grieg Seafood Asa : CEO Andreas Kvame has on 17 february acquired 6,000 shares at NOK 72 per share. Kvame's total shareholding after this share purchase is 35,000 shares .COO Knut Utheim has on 17 february acquired 5,800 shares at NOK 72 per share. Utheim's total shareholding after this share purchase is 18,200 shares.  Full Article

Grieg Seafood beats Q2 earnings forecast, cuts output guidance
Thursday, 18 Aug 2016 12:00am EDT 

Grieg Seafood Asa : q2 ebit before biomass fair value adjustments nok 312 million (Reuters poll nok 295 million) . q2 revenue nok 1.68 billion (Reuters poll nok 1.51 billion) . 2016 harvest guidance cut to tonnes (previous guidance 70,000 tonnes) and versus 68,844 tonnes in Reuters poll . has an ongoing focus on improving operational efficiency, and this involves both increasing production per plant and per licence, as well as reducing costs per kilo . One of key steps being taken is to set out bigger smolt, which will make it possible to shorten production time in sea . There is strong underlying demand for salmon and good prices are therefore expected during remaining months of 2016 and into 2017 . Sale of Grieg's UK activities has been considered, but improvement in operations in region has not been reflected to a sufficient extent in offers received . Company will be aiming to increase production by 10% annually in period 2017-2019 . A harvest volume of 13,500 tons is expected in q3 . A significantly higher harvest volume is planned for q4 . The U.S. market is expected to develop particularly well in second half of 2016 due to a reduction in offers from Chile .Market may however come under sporadic pressure during some weeks in course of q3 2016, which could result in lower prices during these periods.  Full Article

Grieg Seafood Q1 beats forecast, proposes dividend
Thursday, 12 May 2016 12:01am EDT 

Grieg Seafood : Grieg seafood q1 ebit before biomass fair value adjustments nok 214 million (Reuters poll nok 173 million) . Grieg seafood repeats 2016 harvest guidance of 70,000 tonnes . Board propose a dividend nok 0.5 per share, equal to last year's payout . There are expectations of a decline in supply-side offers, presenting prospect of a strong salmon market in period ahead. This also applies in the U.S. market . Grieg seafood q1 revenue nok 1.3 billion (Reuters poll nok 1.12 billion) . Aims for 10 pct annual increase in production 2017-2019, increasing biomass in 2016 . Says strategic review of shetland operations ongoing .Says aims to bring costs down to industry average, or lower.  Full Article

Grieg Seafood gives FY 2015-2016 harvest guidance; to divest its processing activities in Shetland
Friday, 6 Nov 2015 12:45am EST 

Grieg Seafood ASA:Has decided to divest its processing activities in Shetland. In this connection the accounts include a write-down of 50 million Norwegian crowns.Says expected volume for FY 2015 has been reduced by 2,900 tons to 67,100 tons, mainly because part of volume has been moved from FY 2015 to FY 2016.Says harvested volume in FY 2016 is expected to be 70,000 tons.  Full Article

Grieg Seafood cuts 2015 harvest guidance
Wednesday, 19 Aug 2015 12:00am EDT 

Grieg Seafood ASA:Cuts 2015 harvest guidance to 70,000 tonnes (previous guidance 72,000 tonnes), a rise of 5,000 tonnes from 2014.  Full Article

Grieg Seafood board says not satisfied with performance, credit facility extended-Reuters
Wednesday, 15 Jul 2015 02:07am EDT 

Grieg Seafood ASA:Says board is not satisfied with company's performance trend and will revert with further information regarding implemented action and necessary measures ahead to reverse this trend-Reuters.Has extended its bank credit facility by 500 million Norwegian crowns from 1,410 million crowns to 1,910 million crowns.This has been done in order to refinance a bond loan of 400 million crowns which matures in December 2015.  Full Article

Norway's Grieg Seafood hit by high mortality in Canada
Tuesday, 23 Jun 2015 02:52am EDT 

Grieg Seafood ASA:Says has encountered high mortality at the West Coast of Vancouver Island due to low dissolved oxygen levels.The mortality so far is estimated to be 1,000 tonnes.Says primarily two locations are affected by the incident: Muchalat North lost 146,000 fish with an average weight of 3.73 kg and Williamson lost 532,000 fish with an average weight of 0.86 kg.The situation is stabilized and the rate of mortality back at a normal level.After the incident biomass at the two locations is: Muchalat North 1,051 tons and Williamson 152 tons.Grieg Seafood has earlier said they expect to harvest 72,000 tonnes this year.  Full Article

More From Around the Web

BRIEF-Grieg Seafood and Norway Royal Salmon to jointly secure smolt production in Finmark

* Have joined forces to ensure smolt capacity in Finnmark by entering as owners of Nordnorsk Smolt as with 50 per cent each