Lerøy Seafood Share Declines following Disappointing Report
Oslo, Norway - Shares in Lerøy Seafood Group fell as much as 5% Wednesday morning following the release of its third-quarter report, according to analysis from Pareto Securities.Analyst Nordby anticipates consensus estimates for 2025 will be adjusted downward by approximately 15%,with 2026 estimates expected to decrease by around 5%.
“The share has been weak towards the release of the figures, adn we expect it to fall around 3-5 percent,” Nordby elaborated.
Pareto Securities analyst Henrik Longva Knutsen noted market concerns regarding the company’s lice situation,stating,”And it turns out to be with good reason.” He also highlighted that costs are projected to increase into the next quarter “from an already high level.”
Olav Thon Eiendomsselskap Faces Delisting Bid
In separate news, Thon Gruppen announced a voluntary cash offer to acquire all outstanding shares of Oslo Stock Exchange-listed Olav Thon Eiendomsselskap, with the intention of delisting the company. the offer stands at NOK 335 per share, valuing the company at approximately NOK 34 billion - a 23% premium over Tuesday’s closing price of NOK 272.
Thon Gruppen and Investhon currently hold a 75.4% stake in Olav thon Eiendomsselskap, with the remaining shares targeted for acquisition at a cost of NOK 8.36 billion. While currently up for the year, the property share has declined from its peak, experiencing a rise of over 22% on Wednesday.
Other Market Updates:
* Public Property Invest: Completed a NOK 3.53 billion capital raise through the issuance of 153.6 million shares at NOK 23 each, linked to its NOK 37 billion property acquisition from SBB. The share price rose 8%.
* Rana Gruber: reported increased profits in the third quarter and announced a goal to produce iron ore concentrates with 67% iron content by 2029.The share price increased 4%.
* Bewi: Increased turnover in the third quarter, with gross operating profit reaching its highest level as 2022, driven by food packaging.The share price rose 2%.
* Envipco: Delivered weaker-than-expected third-quarter results due to lower sales of mortgage machines in Europe. The share price fell 3%.
