| al_sting - Freitag, 27. Februar 2015 - 07:31 |
| Q4-Zahlen besser als erwartet, und die schon hohe Dividende von 2013 soll noch einmal steigen. Mit 10 NOK für 2014 liegt die Dividendenrendite bei etwa 8%: http://www.reuters.com/article/2015/02/26/idUSFWN0VZ04720150226 Salmar above forecast, increases dividend to NOK 10 per share * Salmar Q4 ebit before adjustments NOK 509 million (Reuters poll nok 485 million) and vs NOK 348 mln in Q4 2013 * Q4 operational EBIT/kg NOK 12.21, up from NOK 10.20/kg in the fourth quarter 2013 * Salmar asa says based on estimates of standing biomass at close of year, it is expected that global supply of atlantic salmon will rise by just three per cent in 2015 * This would normally indicate relatively good prices moving forward * Despite the loss of sales to the Russian market, SalMar is experiencing buoyant demand in the company's core market * Expects to harvest around 139 000 tonnes in Norway, up from 137 000 tonnes in Q3 report (poll 142 000 tonnes) * Norskott Havbruk (Scottish Seafarms) is expected to harvest some 31 000 tonnes in 2015, which is unchanged from Q3 report * Salmar proposes 2014 dividend of NOK 10 per share (Reuters poll NOK 6.84) and up from NOK 8 in 2013 * Salmar still face biological challenges associated with PD and salmon lice, with the impact on costs that this entails, but says have the situation under control ----------------------------------------------- Hier ausführlicher (Vollzitat, bevor die Bezahlschranke nach 24 h hochkommt): http://www.undercurrentnews.com/2015/02/26/sea-lice-diseases-limit-salmars-strong-q4-showing/ Sea lice, diseases limit Salmar’s strong Q4 showing February 26, 2015, 9:22 am, Neil Ramsden Norwegian salmon farmer Salmar saw its fourth quarter 2014 bring profit growth on record operating revenues, though its central and Rauma regions saw weaker margins than in the north. The firm just broke the NOK 2 billion ($264.89 million) mark for Q4 operating revenue, up 9% from the corresponding period in 2013. Earnings before interest and tax (ebit) came to NOK 508m, with an ebit per kg of NOK 12.21 – up from NOK 348.1m and NOK 10.2 in 2013. However profit before tax plummeted from NOK 838.3m to NOK 387.5m, due to fair value adjustments. These came to a loss of NOK 127.5m, compared to a gain of NOK 470.4m in Q3 2013 “The bulk of this is attributable to changes in the value of unrealized forward currency contracts, down NOK 150.9m,” explained Salmar in its report. “The remaining fair value adjustments relate to the value of the biomass, which rose by NOK 82.6m in the period, and changes in the value of unrealized Fish Pool contracts (down NOK 28.5m).” Salmar harvested some 41,700 metric tons of fish in the fourth quarter 2014, 5,300t more than in the preceding quarter, and 7,500t more than in the fourth quarter 2013. In addition, a total of 5,500t was harvested by Norskott Havbruk (Scottish Sea Farms). This was 2,600t less than in the third quarter 2014, and 1,200t less than the corresponding quarter in 2013. Salmar owns 50% of Norskott Havbruk. Harvest total was greater than analyst consensus had expected, leading to a 5% higher operational ebit than predicted, noted Nordea analyst Kolbjorn Giskeodegard. “A dividend of NOK 10 per share has been proposed, this is substantially higher than consensus, at NOK 6.9 per share. Volume guidance for 2015 was increased by 2,000t to 139,000 tonnes in total. We expect to see the share up some 3-4% from start today,” he wrote. Full year 2014 results came to an operating revenue of NOK 7.2bn, up 15% on 2013. Ebit per kg came to NOK 13.33, compared to 2013's NOK 10.96, though profit before tax reached NOK 1.6bn - down from NOK 2.3bn the year before, due to the fair value adjustments mentioned above. Success in the north... Salmar's northern region delivered a higher contribution than had been expected by Nordea, with an ebit of NOK 13.3 per kg (forecast NOK 12.3 per kg), and the biological performance was good, noted Giskeodegard. Salmar Northern Norway harvested around 13,800t of salmon during the fourth quarter, compared with 10,700t in the same period in 2013 (helped by the consolidation of the firm's share in Villa Organic into the operations – around 1,490t extra). The harvested volume was evenly distributed throughout the period. The segment generated gross operating revenues of NOK 529.3m in the quarter, up from NOK 429m in the corresponding period the year before. The increase was due to higher harvested volumes, but was partly offset by somewhat lower prices, it said. The segment’s biological situation is considered good. Marine-phase production costs are falling, and higher sea temperatures contributed to improved growth during the period. Ebit per kg gutted weight came to NOK 13.30 during the quarter, down from NOK 15.32 per kg in the corresponding period in 2013. Compared with the third quarter 2014, ebit per kg rose by NOK 6.59. Salmar Northern Norway harvested approx. 37,500t in 2014 as a whole, up from 23,800t in 2013. This segment is expected to harvest a total of around 42,000t in 2015. ...Less success elsewhere Salmar central Norway harvested a total of 23,000t in the fourth quarter 2014, compared with 14,000t in the corresponding period the year before. The higher harvested volume generated gross operating revenues of NOK 841.8m in Q4, up from NOK 546.7m in the same quarter in 2013.central Although prices rose through the quarter, the segment did not benefit fully from this trend, since a substantial proportion of its volume was harvested at the start of the period, the firm said. Operating profit per kg gutted weight came to NOK 11.41 in the period, up NOK 1.47 per kg compared with the preceding quarter. “Salmar central Norway has experienced a challenging situation with respect to salmon lice and PD [pancreas disease],” Salmar said. “However, Salmar had the situation under control in the fourth quarter. More frequent delousing of fish held at sea accumulates the salmon lice cost per kg, and this is expected to affect the overall cost picture in 2015.” Higher than normal temperatures resulted in good growth, and the harvesting of fish released into the sea in the autumn of 2013 began earlier than planned in the quarter. Salmar central Norway harvested around 75,200t of salmon during 2014 as a whole, compared to 70,200t the year before. The company expects this segment to harvest around 79,000t in 2015. The Rauma segment, meanwhile, also experience a “challenging” quarter biologically.rauma The costs per kg relating to delousing treatments have been rising there, and the number of cases of PD remains relatively high, affecting the fishes’ appetites and growth, which in turn leads to higher costs, Salmar said. The Rauma segment has also had cases of amoebic gill disease (AGD) at certain sites. Treatment has been successful, but AGD also affects appetite and growth, with corresponding increased costs per kg, it added. Ebit per kg here was NOK 8.74, down from NOK 10.02 in Q4 2013. The Rauma segment harvested some 4,900t of fish in Q4 2014, around 500t more than in the fourth quarter 2013. Around 47% of the total volume harvested was organic salmon, compared with 75% in the previous quarter. Organic salmon normally carries a price premium compared with conventional salmon. However, in periods of rising and high spot prices for conventional salmon, this premium is reduced, the farmer said. “Price developments in the fourth quarter were therefore unfavourable for organic salmon, and margins were consequently somewhat lower.” |
| levdul1 - Montag, 1. Juni 2015 - 11:35 |
| Nach ca. einem Jahr Konsolidierung sieht Salmar fit für einen Ausbruch aus dem Seitwärtstrend aus. |
| al_sting - Montag, 1. Juni 2015 - 17:22 |
| Ich bin fundamental positiv für Salmar gestimmt. Falls deine Überlegung charttechnisch fundiert ist, wäre ich hingegen etwas vorsichtig: In den nächsten Tagen ist eine solide Dividende fällig, 10 NOK = 8% Dividendenrendite. Der erwartbare Dividendenabschlag könnte den Chart hässlich aussehen lassen. |
| prof - Montag, 1. Juni 2015 - 19:57 |
| Das hat levedul gut herausgearbeitet. Die Dividende ist allerdings zu beachten. Prof |
| calvet - Montag, 1. Juni 2015 - 23:27 |
| Würde mich freuen, wenn Dividende und Ausbruch gleichwohl möglich wären. Allerdings schätze ich die Dividende in diesem Falle mehr als einen charttechnischen Ausbruch. Zum Thema Aquafarming und Thunfisch (am Rande auch Lachs) gabe es in der €uro am S. einen Artikel, der Marine Harvest wieder in mein Blickfeld gerückt hat, das ich seit meinem SalMar-Kauf außer Acht gelassen habe. Ich habe bisher keine Kennzahlen aus den GB's gezogen, aber bei 7% Dividende + Thunfischg-Farm-Fantasie könnte ich mir auch erhöhte Bewertungen schönreden. Hier der Link (07.04.2015 auf finanzen.net) http://www.finanzen.net/nachricht/aktien/Aquafarming-boomt-Fisch-Investments-Fette-Renditen-fischen-4263284 |
| levdul1 - Dienstag, 2. Juni 2015 - 10:28 |
| 10 NOK würden gerade noch in den Aufwärtstrend hineinpassen. Vielleicht steigt die Aktie auch noch ein bißchen im Vorfeld. Aber es ist sicherlich auch nicht falsch ein paar Tage nach der Dividende abzuwarten und zu schauen, wie sich der Chart entwickelt. Bei Marine Harvest kauft man sicherlich eine Menge Phantasie mit. 4-traders prognostiziert Eigenkapitalrenditen von 17 - 20 %. Letztes Jahr haben sie 6 % erreicht. Der Durchschnitt der letzten 5 Jahre beträgt 12 %. Damit errechnet sich eine Levdul-Zahl von 2,26... Salmar kommt auf eine Levdul-Zahl von 11,65. Allerdings liegen dieser Rechnung Eigenkapitalrenditen von 25 % zugrunde, welche bestimmt auch nicht in alle Ewigkeit zu halten sind. Eine Firma, welche mir persönlich auch sehr gefällt ist Leroy. Allerdings ist der Aktienkurs der Bewertung etwas davongelaufen, so daß hier nur noch eine Levdul-Zahl von 7,7 resultiert. |
| al_sting - Dienstag, 30. Juni 2015 - 13:51 |
| Dividendennachtrag Salmar: "The General Meeting approved to distribute a dividend of NOK 10.00 per share. The shares in SalMar ASA will be quoted ex-dividend from 3 June 2015." 3.6.2015: 1 NOK = 1,144 € --> 700 x 1,144€ = 800,80€ Dividendenrendite auf Kaufpreis: 7,8% |
| levdul1 - Donnerstag, 13. August 2015 - 12:57 |
| Der Aufwärtstrend bei Salmar hat auch der Dividendenausschüttung standgehalten. Nun steht die Aktie kurz vor einem neuen Allzeithoch. Die Konsolidierung hat in Form einer einjährigen Seitwärtsbewegung stattgefunden. Die Bewertung ist günstig (Levdul-Zahl=11,5). Das ganze Scenario sieht attraktiv aus. |
| al_sting - Donnerstag, 13. August 2015 - 14:25 |
| Die fundamentale Bewertung ist ebenso günstig wie die Entwicklung der Firma. Ich plane Salmar als langfristige Anlage. |
| al_sting - Mittwoch, 26. August 2015 - 10:42 |
| The Northern Norway segment (see above) gave a steady performance in the second quarter, with satisfactory results. The overall biological situation for this segment is considered to be good, said SalMar. Overall, SalMar noted the biological situation is "challenging". Expected high levels of salmon lice and growing challenges posed by resistance to treatment could affect fish growth rates and harvesting plans in the coming quarters, which could in turn drive up costs, the company said. |
| levdul1 - Dienstag, 1. September 2015 - 15:34 |
| Der Ausblick klingt aber nicht gerade optimistisch. |
| levdul1 - Mittwoch, 7. Oktober 2015 - 09:00 |
| Sowohl Salmar als auch Leroy sind auf neue Allzeithochs ausgebrochen. Es sieht aus als ob die Party nach einem Jahr Konsolidierung weitergeht. |
| monopole - Donnerstag, 8. Oktober 2015 - 08:05 |
| Marine Harvest kämpft noch mit dem AZH vom Januar dieses Jahres. |
| monopole - Samstag, 24. Oktober 2015 - 18:37 |
| Jetzt kämpft MHG nicht mehr. AZH mit steigendem Volumen. |
| al_sting - Mittwoch, 13. Januar 2016 - 17:59 |
| Ich denke, spätestens jetzt kann man bei Salmar auch von einem charttechnischen Ausbruch reden. Auch wenn ich keine fundamentalen Gründe dafür kenne. |
| levdul1 - Mittwoch, 13. Januar 2016 - 18:14 |
| Ich habe mir neben Salmar und Leroy kürzlich auch noch Bakkafrost ins Privatdepot gelegt. Alle drei marschieren im Gleichklang, also wird es wohl gute Nachrichten für die Lachsindustrie geben. |
| xenon - Mittwoch, 13. Januar 2016 - 18:29 |
| Bakkafrost habe ich auch unter Beobachtung - "Panikkaufkandidat". |
| al_sting - Mittwoch, 13. Januar 2016 - 18:52 |
| :grübel: Was ist ein Panikkauf? |
| monopole - Mittwoch, 13. Januar 2016 - 19:11 | ||||||||
Was ist ein Panikkauf?
|
| prof - Mittwoch, 13. Januar 2016 - 20:49 |
| Ich wäre für 1.) Ich denke bei Salmar steht bald wieder die üppige Dividende an. Wo gibt´s so etwas heute noch in diesem Zinsumfeld? |