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Grieg Seafood ASA (GSFO.OL)

GSFO.OL on Oslo Stock Exchange

92.25NOK
23 May 2018
Change (% chg)

kr0.25 (+0.27%)
Prev Close
kr92.00
Open
kr91.95
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kr93.10
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kr90.70
Volume
753,112
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580,779
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kr102.50
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Latest Key Developments (Source: Significant Developments)

Grieg Seafood's CFO bought 2,250 shares
Friday, 16 Feb 2018 07:33am EST 

Feb 16 (Reuters) - Grieg Seafood Asa ::‍ATLE HARALD SANDTORV, CFO IN GRIEG SEAFOOD ASA, HAS ON 16 FEBRUARY 2018 ACQUIRED 2,250 SHARES AT NOK 66.81 PER SHARE​.‍TOTAL SHAREHOLDING AFTER THIS SHARE PURCHASE IS 24,043 SHARES​.  Full Article

Fish farmer Grieg Seafood eyes 25 pct output hike in 2020 vs 2018
Thursday, 15 Feb 2018 04:00am EST 

Feb 15 (Reuters) - Grieg Seafood Asa ::GRIEG SEAFOOD CEO SAYS TARGETS 100,000 TONNES OF SALMON PRODUCTION IN 2020 VERSUS GUIDANCE OF 80,000 TONNES IN 2018.GRIEG SEAFOOD CEO SAYS 22 PERCENT OF 2018 PRODUCTION SOLD ON CONTRACTS AT PRICES AROUND NOK 60 PER KILO.GRIEG SEAFOOD CEO GUIDES SALMON PRODUCTION OF 8,900 TONNES IN Q1.GRIEG SEAFOOD CFO SAYS WILL IN ADDITION TO ORDINARY DIVIDEND OF 25-35 PERCENT OF NET RESULT, WILL CONSIDER AN EXTRAORDINARY DIVIDEND.  Full Article

Grieg Seafood Q4 earnings miss on low output; raises 2018 target
Thursday, 15 Feb 2018 12:00am EST 

Feb 15 (Reuters) - Grieg Seafood Asa ::GRIEG SEAFOOD ASA: Q4 2017 - LOWER HARVEST VOLUME THAN GUIDED IN Q4, 28 % VOLUME GROWTH IN 2018.‍PROFIT DECLINE AS A RESULT OF LOWER MARKET PRICES AND REDUCED HARVESTED VOLUMES​.GRIEG SEAFOOD Q4 HARVEST ‍18,667​ TONNES (REUTERS POLL 21,975 TONNES).‍3,000 TONNES OF HARVEST VOLUME TRANSFERRED FROM 2017 TO 2018​.GRIEG SEAFOOD 2018 HARVEST GUIDANCE ‍80,000 TONNES VERSUS 77,000 TONNES SEEN IN NOVEMBER (REUTERS POLL 78,000 TONNES).GRIEG SEAFOOD Q4 REVENUE NOK ‍1,731​ MILLION (REUTERS POLL NOK 1,866 MILLION).GRIEG SEAFOOD Q4 EBIT BEFORE ADJUSTMENT NOK ‍151​ MILLION (REUTERS POLL NOK 249 MILLION).‍EBIT PER KG AMOUNTED TO NOK 8.1 FOR QUARTER, COMPARED WITH NOK 21.8 IN Q4 2016​.‍OVERALL GOAL IS TO INCREASE PRODUCTION BY MINIMUM 10% PER YEAR UP UNTIL 2020​.‍AMBITION IS FOR PRODUCTION COSTS TO BE ON LEVEL WITH OR LOWER THAN INDUSTRY AVERAGE​.‍HAS ENTERED INTO COOPERATION AGREEMENTS WITH NORWAY ROYAL SALMON (NRS) AND BREMNES SEASHORE, TO INCREASE COMPANIES' SMOLT CAPACITY IN FINNMARK AND ROGALAND​.‍GSF'S OWN HATCHERIES IN NORWAY WILL BE EXPANDED BY SEVERAL SEPARATE LINES​.‍LOWER MARKET PRICES ARE EXPECTED TO STIMULATE MARKET ACTIVITY, WHICH IN TURN WILL LEAD TO INCREASED DEMAND OVER YEAR​.‍THIS MAY HAVE A POSITIVE EFFECT ON SALMON PRICES THROUGH 2018​.‍TOTAL SHARE OF FIXED PRICE CONTRACTS IN NORWAY IN Q4 2017 WAS 21 %. FOR Q1 2018 SHARE OF FIXED PRICE CONTRACTS IS ESTIMATED TO BE 46 %​.  Full Article

Grieg Seafood: export company cannot export Norwegian salmon to China ​
Tuesday, 13 Feb 2018 11:13am EST 

Feb 13 (Reuters) - Grieg Seafood Asa ::‍OCEAN QUALITY AS ("OCEAN QUALITY"), WHICH IS SALES ORGANIZATION OF GRIEG SEAFOOD AND BREMNES SEASHORE AS, HAS RECEIVED A DECISION FROM NORWEGIAN FOOD SAFETY AUTHORITY ( "NFSA") IMPLYING THAT OCEAN QUALITY IS EXCLUDED FROM EXPORTING TO CHINA ON BASIS THAT IT HAS BEEN PROVIDED INCORRECT INFORMATION TO NFSA IN CONNECTION WITH SUCH EXPORT.​.‍SHARES IN OCEAN QUALITY ARE OWNED 60% BY GRIEG SEAFOOD ASA AND 40% BY BREMNES FRYSERI AS.​.‍IT IS EMPHASIZED THAT THIS CASE ONLY APPLIES TO SALMON FROM NORWAY. THIS MEANS THAT OCEAN QUALITY CAN STILL SELL GSF'S FISH FROM BC AND UK INTO CHINA.​.  Full Article

Grieg Seafood wins conditional approval of "Blue Farm" development project
Friday, 29 Dec 2017 05:21am EST 

Dec 29 (Reuters) - Grieg Seafood ::The Norwegian Directorate of Fisheries has granted Grieg Seafood conditional approval for its "Blue Farm" salmon development concept.Grieg Seafood has applied for 10 development licenses, each of 780 tonnes of salmon, to use for its "Blue Farm" concept .The Norwegian Directorate of Fisheries says the next step in the process is to decide how many development licenses it will hand out to Grieg's "Blue Farm" concept.Development licenses are part of an initiative by the Norwegian Industry and Fisheries Ministry to spur growth in Norway's salmon production.To be awarded a license under the scheme, companies must show that their plans bring technological innovation while also adhering to strict environmental and animal welfare procedures.  Full Article

Grieg Seafood: Nordea Markets upgrades to hold from sell
Thursday, 9 Nov 2017 05:05am EST 

Nov 9 (Reuters) - :Grieg Seafood <<>>: Nordea Markets upgrades to hold from sell after Wednesday's Q3 report, sees fair value at NOK 83/share.Refers to Grieg's reported EBIT of NOK 229 million, beating consensus estimates by a solid 18 percent nFWN1NE00VnO9N1ML01U.Volumes were in line with expectations, while EBIT per kilo was higher, Nordea says .The NOK 1 extraordinary dividend and growth outlook were the most interesting aspects of the report.Guidance is for a whopping 17 percent volume growth for 2018. Total expected release of 26 million smolt should take harvested volumes to 104,000 tonnes as early as 2019, Nordea Markets predicts.  Full Article

Grieg Seafood CEO sees output of 100,000 tonnes in 2020
Wednesday, 8 Nov 2017 01:31am EST 

Nov 8 (Reuters) - Grieg Seafood Q3 earnings presentation on Wednesday::CEO Andreas Kvarme says "clear target" of raising output to 100,000 tonnes in 2020 (from 66,000 tonnes in 2017).Raising capacity utilisation is main focus, company is now at 77 pct of capacity.Clear goal of cost level in line with, or below, industry average.  Full Article

Grieg Seafood announces surprise dividend as Q3 beats forecast
Wednesday, 8 Nov 2017 12:00am EST 

Nov 8 (Reuters) - Grieg Seafood Asa :To pay dividend OF NOK 1 per share. The Board's consideration is that it will be defensible to pay a dividend based on a good cash flow and strengthened balance‍.planned volume growth of 17% to 77,000 tons in 2018​.q3 harvest 16,875​ tonnes (reuters poll 16,680 tonnes).q3 revenue nok ‍1,855​ million (Reuters poll nok 1,519 million).q3 ebit before adjustment nok 229.3‍​ million (Reuters poll nok 187 million).2017 harvest guidance ‍66​,000 tonnes versus 67,000 tonnes seen in august (reuters poll 66,765 tonnes).‍contract share for q4 is estimated to 18 %​.‍harvest volume for q4 2017 is expected to be 22,100 tons​.Grieg seafood's financial position is regarded as solid and available liquidity at end of quarter was strong. Based on this, board of directors has approved a special dividend of nok 1.00 per share​.‍demand for salmon is expected to increase as christmas season approaches, which normally leads to higher prices in q4​.‍in longer term, relationship between supply and demand is likely to be stable, giving grounds to expect a continuation of good prices for salmon in marketplace​.‍so far, contracts have been signed for 22 % of norwegian harvest volume for 2018​.Expects growth in global salmon industry harvest of 7 percent in 2018‍​.Expects growth in global salmon industry harvest of 3 percent in 2019​.To make next dividend assessment after q4 2017.  Full Article

BRIEF-Grieg Seafood announces surprise dividend as Q3 beats forecast
Wednesday, 8 Nov 2017 12:00am EST 

Repeats to attach to additional alert:To pay dividend OF NOK 1 per share. The Board's consideration is that it will be defensible to pay a dividend based on a good cash flow and strengthened balance‍.planned volume growth of 17% to 77,000 tons in 2018​.q3 harvest 16,875​ tonnes (reuters poll 16,680 tonnes).q3 revenue nok ‍1,855​ million (Reuters poll nok 1,519 million).q3 ebit before adjustment nok 229.3‍​ million (Reuters poll nok 187 million).2017 harvest guidance ‍66​,000 tonnes versus 67,000 tonnes seen in august (reuters poll 66,765 tonnes).‍contract share for q4 is estimated to 18 %​.‍harvest volume for q4 2017 is expected to be 22,100 tons​.Grieg seafood's financial position is regarded as solid and available liquidity at end of quarter was strong. Based on this, board of directors has approved a special dividend of nok 1.00 per share​.‍demand for salmon is expected to increase as christmas season approaches, which normally leads to higher prices in q4​.‍in longer term, relationship between supply and demand is likely to be stable, giving grounds to expect a continuation of good prices for salmon in marketplace​.‍so far, contracts have been signed for 22 % of norwegian harvest volume for 2018​.Expects growth in global salmon industry harvest of 7 percent in 2018‍​.Expects growth in global salmon industry harvest of 3 percent in 2019​.To make next dividend assessment after q4 2017.  Full Article

Grieg Seafood Q2 EBIT beats forecast, cuts 2017 output target
Thursday, 24 Aug 2017 12:00am EDT 

Aug 24 (Reuters) - Grieg Seafood Asa :Q2 ebit before adjustment nok 392 million (Reuters poll nok 380 million).Q2 harvest 18,503 tonnes (reuters poll 18,100 tonnes).2017 harvest guidance 67,000 tonnes versus 70,000 tonnes seen in may (reuters poll 68,800 tonnes).Harvest volume for q3 2017 is expected to be 16,500 tons.Harvest volume for 2017 as a whole is expected to be 67,000 tons, which is 3,000 tons less than previously indicated. This must be considered in light of biological situation in shetland.Supply of salmon is expected to increase in q3 2017, which may put prices under pressure.Fixed price contracts for norway accounted for 18 % of sales in q2 2017. This share is expected to be 32 % in q3 2017.For 2017 as a whole, it is estimated that fixed price contracts will account for 25 % of total. Work is also in hand pertaining to contracts for 2018.Company will be aiming to increase production by 10 % annually in period through 2020.Company is planning to set out 26 million smolt in 2017, which is an increase of 28 % compared to 2016.After first half-year gsf are on track on plan. So far 10 million smolt have been set out.Q2 revenue nok 2,030 million (Reuters poll nok 1,851 million).  Full Article

NORWEGIAN STOCKS-Grieg Seafood up, Kongsberg Gruppen down in rising Oslo bourse

OSLO, May 15 (Reuters) - * Norwegian shares traded up on Tuesday * Oslo's benchmark index rose 0.53 pct, or 4.64 points, to 880.69 points and was up by 7.56 pct year-to-date * The broader Oslo All Share Index was up 0.65 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, rose $0.68 to $78.91 a barrel * Among the biggest firms on the Oslo Bourse, Statoil rose 1.34 pct, Telenor fell -0.15 pct and DNB fell -0.32 pct * Turnover at the Oslo Bourse was 3.5 billion Norwegian crowns