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The main index on the Oslo Stock Exchange fell about 0.2% since the start of the penultimate day of trading for the week, but it took no more than 20 minutes before it turned positive. As of 09.20, the main index is up 0.1 percent.
The week so far has been changeable. On Monday, the leading index closed more than four percent higher, following vaccine news from Pfizer and BioNTech, while it ended Tuesday with a half percent drop.
On Wednesday, the leading index was up 1.2 percent at closing time.
On Thursday, the price of oil continues to rise. A barrel of burned North Sea oil is trading at about $ 43.9. The price of a barrel has risen almost 17 percent since the end of October.
Gustav Witzøe is the founder, principal owner and CEO of Salmar. He and his family own just over half of the shares in the fish farming company through Kverva Industrier. (Photo: Geir Otto Johansen)
More than one mrd. in paper profit for the main owner
In the morning hours of Thursday, several of the companies listed in Oslo Børs presented figures for the third quarter. Salmon giant Salmar had operating income of NOK 2.9 billion and an operating profit of NOK 646.8 million. Profit before tax ended at DKK 522.2 million. Thus, analysts’ expectations were also thoroughly exceeded.
The stock is up about 5.3 percent from the start and is trading at a price of around 549.4 NOK. At yesterday’s closing time, the price was NOK 527.
Gustav M. Witzøe. (Photo: Skjalg Bøhmer Vold)
Based on the Witzøe family’s stake in Salmar, just over half the shares, it means a profit on paper of about 1.3 billion NOK on Thursday morning.
At the same time, it became clear that the company will pay NOK 13 in dividends per share. For the Witzøe family, this means about NOK 800 million, if the dividend is approved by the extraordinary general meeting. It takes place in early December.
Resultstrush
From other companies that submitted quarterly figures before opening, it looks like this:
- Ice Group is increasing about 2.4 percent, albeit at very modest volumes. The telecommunications company surpassed 600,000 subscribers in the quarter, but posted a pre-tax loss of NOK 223 million.
- Veidekke had sales of NOK 9.5 billion in the third quarter and ended with a pre-tax profit of NOK 616 million, an increase over the same period last year, when the company made a profit of NOK 426 million from a NOK 9 billion turnover. The stock is up a little over nine percent.
- The NTS aquaculture group falls about ten percent, albeit in very low volumes. The group received total operating income of NOK 700 million, compared to NOK 410 million in the same quarter last year.
- Fjordkraft is up two percent after reporting an adjusted operating profit of NOK 79 million in the third quarter of 2020, compared to NOK 93 million in the same period last year.
- Mercell is up about 8.2 percent, but at a low volume. The company, which provides a digital platform for public procurement, increased revenue from NOK 47 million in the third quarter of last year to NOK 78 million in the third quarter of this year. Since listing in July, the stake has risen 44 percent.
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