Lower salmon prices push down Bakkafrost Q2 earnings

Faroese salmon and feed producer Bakkafrost Group suffered a fall in earnings in the second quarter due in large part to lower salmon prices.

Earnings before interest, tax, demortization and amortization (EBITDA) fell 13 percent to DKK 397 million (€53.2 million/$59.2 million), while revenues crept down 1 percent to DKK 947 million (€126.9 million/$141.1 million).

"Even though the salmon price was 9 percent lower in the second quarter of 2019, compared to Q2 2018, the result for Bakkafrost was good for the second quarter," said CEO Regin Jacobsen.