February 23, 2021 — Faroe Islands-headquartered Bakkafrost Group saw decreased earnings before interest and taxes (EBIT) in the fourth quarter, due in large part to the depressed global market for salmon.
Bakkafrost Group delivered total operational earnings before interest and taxes (EBIT) of DKK 88.5 million (USD 14.5 million, EUR 11.9 million) in the fourth quarter of 2020, down from DKK 415.3 million (USD 67.9 million, EUR 55.8 million) in the corresponding period of 2019, with large volumes and reduced demand contributing to the downturn.