A massive storm that lashed the Faroe Islands between Feb. 28 and March 2 resulted in he loss of around 1 million fish with an average weight of 2.1 kg, salmon producer Bakkafrost reported Sunday.
The four-day storm caused "significant" damage to two of Bakkafrost's farming sites in the southern island of Suduroy, the company reported, damaging a total of 12 netpens at two sites in the A23 Hvalba farming area. A second location, A15 Frodba, experienced severe mortalities from the swell.
The company expects its 2020 harvest guidance will be reduced by 5,000-6,000 metric tons as a result of the losses. Previously the company anticipated a harvest of 57,000 metric tons this year.
The equipment and fish are ensured at cost value, the company said.
Earnings before interest, tax, depreciation and amortization (EBITDA) rocketed 47 percent year-on-year, reaching DKK 415 million (€55.6 million/$60.2 million) from DKK 282 million (€37.8 million/$40.9 million).
Revenues rose further, more than doubling to DKK 1.6 billion (€215.1 million/$232.7 million) from DKK 705 million (€94.5 million/$102.2 million).