Q2 was a quarter characterized by multiple one-offs. The strike and ISA-virus had a bigger impact on Q2-EBIT than both we and consensus estimated. Looking at the underlying biological data we see that both the Faroes and Scotland have “never” been better. As an example, the company commented that its Scottish extraordinary mortality for July and August was at DKK 2m versus Q3/23 of DKK 184m and our old Q3/24 estimate of DKK 70m. Group biomass was also 12% bigger YOY at the end of Q2 despite havi ....
