After massive financial success in the second quarter, Faroese salmon farmer Bakkafrost's financial performance weakened significantly in the third quarter because of a number of factors across its farming operations, particularly those in Scotland.
The company posted a 31 percent drop in operational earnings before interest and tax (EBIT) of DKK 70.5 million (€9.5 million/$11 million), despite a 13 percent rise in revenue to DKK 1.3 billion (€174.8 million/$202.5 million). Higher costs and increased mortalities dragged down earnings.
In Scotland, Bakkafrost suffered "significant" biological challenges at some sites where fish had reduced gill health.
