Havfisk delivered a solid second quarter, exceeding expectations, according to Tore Tonseth, and analyst at SpareBank1 Markets in his Thursday update.
“The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) of NOK 84 million [€9.5 million/$10.3 million] was 8 percent over our expectation of NOK 78 million [€8.8 million/$9.6 million], partly advanced by higher catch volumes, higher achieved prices on cod and lower costs than expected for the quarter,” wrote Tonseth.
“Robust cod prices, and 62 percent of the cod quota still to fill, plus lower operating costs and increased catches of other species, have convinced us to maintain our positive view of Havfisk,” he said.
Tonseth
