Cermaq - norwegischer Lachswert - 500 Beiträge pro Seite

[R-BgO]

u.a. auch Futterproduzent; könnte für 2010 etwa 5-6% Div. ausschütten.

peergroup: Marine Harvest, Austevoll, Leroy, Morpol, ...

[Makalu8000]

Antwort auf Beitrag Nr.: 39.794.053 von R-BgO am 08.07.10 16:11:32

klingt interessant und als Beimischung sicher interessant. Da sollte man sich mal näher mit befassen. Hast Du mal bitte die WKN für Morpol? Das würde mich auch interessieren.

Auf eine angenehme Diskussion hier...

[R-BgO]

(Oslo 13.8.2010) Cermaq today reported an EBIT pre fair value of NOK 215 million for Q2 2010 based on strong results in all parts of the operations. The adjusted earnings per share were NOK 1.8 which is significantly improved from same quarter in 2009. All parts of the operations have experienced improved results, driven by strong market prices on salmon in all markets, good biological performance in farming and considerable increase in volumes in the feed business.



- I am pleased with the results for both Mainstream and EWOS. The strong salmon market gives especially strong profitability for Mainstream, says CEO Geir Isaksen.



EWOS delivered an increase in volume of 12 percent from second quarter 2009, driven by growth in Norway and Chile. Continuations of existing contracts and new customer relations have strengthened EWOS' market position in 2010.



- The strong volume growth in EWOS has a significant impact on our results. EWOS' product range provides strong biological performance and good fish health for the farmers, and this is the basis for further growth in EWOS, emphasises Geir Isaksen



Mainstream delivered an EBIT pre fair value of NOK 174 million in the quarter compared to NOK 32 million in the same quarter last year. The sales volumes were 16,600 tonnes which was a decrease from second quarter last year. The decrease is entirely explained by last year's significant sales of frozen salmon from Chile.



Mainstream Chile delivered an EBIT pre fair value of NOK 1.2 million for the second quarter. The harvesting of salmon transferred to the sea after the ISA crisis will start in August. The transfer of smolt of Atlantic salmon in this quarter reached 1.5 million. The total transfer in 2010 is expected to be 6 million Atlantics smolt which is somewhat lower that previously estimated. The reduction is due to the company's strict quality standards for usage of eggs.



Mainstream Norway experienced a volume increase of 38 percent from same quarter last year, driven by increased volumes from Finnmark. EBIT pre fair value was 103.4 million for Q2 2010, corresponding to NOK 16.3 per kg. EBIT pre fair value same quarter last year was NOK 33.6 million.



Mainstream Scotland delivered an EBIT pre fair value of NOK 10 million against a loss of NOK 5.9 million in the same quarter last year. The improvement comes from strong salmon prices and restructuring of the operation in 2009.



Mainstream Canada delivered an EBIT pre fair value of NOK 59.5 million compared to NOK 47.3 million second quarter last year. The salmon prices in the US were record high in the early part of the quarter, but fell significantly towards the end of the quarter. At the same time salmon prices in the US are still high.



Net interest bearing debt was NOK 2.4 billion per 30th June 2010, an increase of NOK 344 million from first quarter. The increase in working capital is in addition to investments and paid dividend driven by rebuilding of the operations in Chile and seasonal variations in the feed business. A reduction of net interest bearing debt is expected towards the end of the year.



Salmon prices are expected to remain strong in 2010 and into 2011. Expected sales volume for salmon, trout and coho for second half of 2010 are relatively unchanged from the previously communicated estimates. Sales volumes are expected to increase by 9 percent in 2011 from 2010 driven by Chile. EWOS enters the peak season in second half year, and increased volumes are expected foremost in Norway and in Chile with further growth in 2011.

[R-BgO]

Antwort auf Beitrag Nr.: 39.796.837 von Makalu8000 am 08.07.10 23:27:03

A1C0Zy

sorry, nicht eher geesehen...

[R-BgO]

Oslo, 18.August 2010: Cermaq ASA has today entered into an agreement with Morpol
ASA to sell its farming and processing business in Scotland (Mainstream
Scotland) to Morpol ASA for NOK 350 million enterprise value.

Cermaq's Scottish farming business has over the last year shown a significant
recovery from various improvement activities. Mainstream Scotland expects to
harvest 6.500 tonnes salmon (gwe) in 2010 with expected good profit. Compared to
Cermaq's other farming activities, Mainstream Scotland has nevertheless been
considered too limited to secure sufficient economy of scale, and various
strategic opportunities have therefore been considered.

- A sale of the Scottish farming and processing activity to Morpol ASA is
considered as a good solution for Cermaq, Morpol, Mainstream Scotland as well as
for our Scottish employees, CEO Geir Isaksen comments.

- Cermaq has through Mainstream an ambition to be one of the leading global
farming companies. The sale of Mainstream Scotland does therefore not impact
Cermaq's long term strategy, Mr. Isaksen states.

The Transaction:

Total agreed enterprise value is NOK 350 million. Cermaq will recognize a gain
from the transaction in the range of NOK 75 million, which will be included in
the group accounts for third quarter 2010.

The transaction will further provide Cermaq with combined cash proceeds of
approximately NOK 350 mill.

The agreement will be effective as from 25. August 2010.

[R-BgO]

Cermaq ASA has on 16. September 2010 sold 15.756.991 shares in Marine Farms ASA (MAFA) at a price of NOK 18,50 per share. After the transaction, Cermaq owns no shares in MAFA.


This disclosure is made in accordance with section 4-2 of the Norwegian Securities Trading Act.


This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

[Makalu8000]

Schöner Verlauf. Die Frage ist nur, wie lange das noch so weitergeht.

[offLimitsLtd.]

Antwort auf Beitrag Nr.: 40.442.128 von Makalu8000 am 03.11.10 08:37:24

Hi,
etwas background zur Meinungsbildung.

Bloomberg
Leroey, SalMar Weigh Takeovers as Fredriksen Fights Salmon Cap
November 09, 2010, 2:03 AM EST
By Meera Bhatia
Nov. 9 (Bloomberg) -- Leroey Seafood Group ASA and SalMar ASA may pursue acquisitions next year, while billionaire John Fredriksen’s Marine Harvest ASA, Norway’s largest fish farmer, is limited in what it can do.
Consolidation is “on the cards,” said Roar Husby, chief financial officer of Kverva, Norway-based SalMar, in an interview. “Smaller salmon farmers will use the opportunity now to sell some of their licenses to the bigger players.”
There have been $1.1 billion of fish industry deals announced this year, up from $332 million in 2009, after salmon prices rose to a four-year high in May, according to Bloomberg data. Leroey agreed to take control of Sjoetroll Havbruk AS for $94 million in September, while Morpol ASA, the world’s largest salmon processor, made five purchases in the past year, including buying Norway’s Marine Farms ASA. Carlyle Group’s $190 million purchase of a 13.6 percent stake in China Fishery Group Ltd. is this year’s biggest takeover.
Norway, the world’s largest salmon supplier, has more than 100 salmon companies with almost 1,000 licenses, according to Oslo-based Pareto Securities AS. Marine Harvest, also in Oslo, has 216 standard permits, or about 22 percent of the total.
Marine Harvest filed a complaint last month to the European Free Trade Association, a bloc of four non-European Union countries, over Norwegian rules preventing one company from holding more than 25 percent of all licenses.
‘Least Room’
“Marine Harvest is the player with the least room for acquisitions,” in Norway, Kolbjoern Giskeoedegaard, an analyst at Nordea Bank AB in Oslo, said in an interview. “Leroey, SalMar, they still have plenty of room.”
Leroey has risen 56 percent in Oslo this year, Marine Harvest 45 percent and SalMar 26 percent, exceeding the 17 percent gain of the 47-company MSCI Norway Small Cap Index. Grieg Seafood ASA rose 80 percent, buoyed by a 41 percent increase in harvested volumes during the first nine months.
“For the larger players, I don’t think they will grow fast enough by just acquiring a license here and there,” said Leif Eriksroed, a fund manager at Alfred Berg Kapitalforvaltning in Oslo, which oversees 3.5 billion kroner in stocks. “I don’t think we will have four large companies here forever.”
Salmon export prices reached a four-year high of 41.78 kroner ($7.21) a kilo on May 23, according to Statistics Norway. The average export price for fresh whole Norwegian salmon climbed 14 percent to 36.15 kroner a ton in the first half, according to Norwegian Seafood Export Council. The price was as low as 23.69 kroner in 2007.
Fish Exchange
Fish Pool ASA, an exchange for fish and seafood derivative contracts, forecasts salmon prices of 36.80 kroner a kilo next year and 32.90 kroner for 2012. Pareto Securities estimates salmon prices of 33 kroner a kilo in 2011 and 29 kroner in 2012.
Marine Harvest Chief Executive Officer Alf-Helge Aarskog said Nov. 3 the company can expand its existing business in Norway over the next two years and then it will need to make acquisitions. The company is concentrating on fish-health issues in Chile, the second-biggest fish-farming nation, he said.
“In Scotland, the industry is fairly consolidated already, and in Canada, there are only three players,” he said.
The market will be “good” for the next couple of years, said Henning Beltestad, Leroey’s CEO, in a telephone interview. “The value of farming will stay high.”
Takeover targets include Grieg Seafood and Bakkafrost P/F, according to Pareto. SalMar bought 22 percent of Faroe Islands- based Bakkafrost on Oct. 21.
‘Bolt-On’ Transactions
“We could see both a lot of bolt-on or add-on acquisitions, but we also see the potential for several larger acquisitions,” Mikael Clement, an analyst at Pareto, said.
Cermaq ASA, outbid by Morpol in September for Marine Farms, plans to increase its presence in Norway and Chile, said Tore Valderhaug, CEO of the Oslo-based company, in an Oct. 29 interview.
Bakkafrost CEO Regin Jacobsen said the company is more interested in making acquisitions than being bought. Grieg Seafood is “well positioned” for consolidation whether as a target or a purchaser, said CEO Morten Vike.
--Editors: Jonas Bergman, Tasneem Brogger
To contact the reporter on this story: Meera Bhatia in Oslo at [e-mail]


MfG

[Alwi]

in welcher form wird die dividende ausgezahlt?

[R-BgO]

(Oslo 2010.12.17) Cermaq has today signed a joint venture agreement with the local partner, Anova Corporation, in Vietnam. Through its feed operations, EWOS, Cermaq is entering operations in the Vietnamese feed market.





Through acquisition of shares and a share issue, Cermaq has obtained 51 percent of the shares in the joint venture company. Cermaq will control the Board of Directors and the management team. Mr. Rune Vamråk, supply chain director of the Norwegian company EWOS AS, is appointed as general manager for the company.



By this agreement EWOS enters the feed market for farmed Pangasius. The broad competence the company has within salmonids can be successfully transferred to Pangasius, a white fish that has enjoyed a tremendous market growth in Europe and the US over the last decade. Pangasius eats feed which is made mainly from plants, and can supply significant volumes of sustainable marine protein to the global food market.



The venture partner Anova Corporation is established in Vietnam with a plant in the Long Anh province. The plant which will be transferred to the joint venture company as a part of the transaction has an annual capacity of 85,000 tonnes. EWOS Vietnam has considerable ambitions for the Vietnamese market and the goal is to utilize the full capacity of the plant within the first operating year. The company has engaged the highly esteemed Pangasius expert Mr. Serene, for the initial phase of market building.



The farming of Pangasius in Vietnam is around 1.8 million tonnes. The major part of this volume is exported as fillets, reaching around 600,000 - 700,000 tonnes annually. Farming of Pangasius is predicted the highest growth globally of farmed species the next decades.



- Vietnam is the fish feed market for the future. We are well prepared, and look forward to employ our competence also outside the scope of salmonids, says Kjell Bjordal, COO for Cermaq's feed operations, EWOS.



Through its establishment in the Vietnamese market EWOS can contribute with its competence related to food safety and sustainability. Furthermore EWOS will utilize its research based knowledge within fish nutrition, raw materials and food production to produce a more cost efficient feed than what is currently available in the Vietnamese market.



- We believe that the farming of Pangasisus can be strengthened through optimizing the feed, focusing on feed technology, nutrient requirements, and fish health, Mr. Bjordal emphasizes.



The agreement that gives Cermaq a limited access to an extensive market represents a first investment close to USD 6 millions.

[goetz12]

Antwort auf Beitrag Nr.: 40.518.121 von Alwi am 14.11.10 10:08:24

Den Büchsenöffner gibt es als Präsent.

[R-BgO]

Antwort auf Beitrag Nr.: 40.518.121 von Alwi am 14.11.10 10:08:24

5,4 NOK am 24.Mai 2011 erhalten; Kurs hält sich gut im Vergleich mit den anderen Lachswerten

[R-BgO]

12er-Zahlen waren nicht too; derzeit nur noch 1,2% Dividendenrendite

[Lwymi]

Marine Harvest will Cermaq übernehmen:

http://www.bloomberg.com/news/2013-04-30/marine-harvest-offe…

[Lwymi]

http://www.bloomberg.com/news/2013-05-02/cermaq-surges-most-…

[R-BgO]

schnelle Antwort:


Cermaq ASA: Cermaq ASA : Cermaq continues process to complete Copeinca transaction and deems Marine Harvests conditional, unsolicited offer as inadequate

Cermaq comments on Marine Harvest's conditional, unsolicited takeover offer

Cermaq refers to the announcement by Marine Harvest ASA 30 April 2013 of a potential conditional, unsolicited takeover offer for all of the outstanding shares of Cermaq ASA. According to the announcement, if the potential offer is launched, the consideration per Cermaq share will consist of NOK 53 in cash and NOK 52 in Marine Harvest shares, representing a total of NOK 105 per Cermaq share. The potential offer will be reduced to NOK 104 following distribution of the proposed dividend in Cermaq to be approved 21 May 2013. The share price of Cermaq on 30 April 2013 closed at NOK 86.

Launch and completion of the potential offer is subject to a number of conditions, including the Cermaq shareholders deciding not to carry out the Copeinca transaction announced by Cermaq on 5 April 2013.

For a full description of the potential offer and the terms thereof, Cermaq refers to the press release from Marine Harvest issued on 30 April 2013.

The strategic rationale for the transaction proposed by Marine Harvest

Cermaq has noted the strategic rationale presented by Marine Harvest for the potential proposed transaction. As communicated on previous occasions, Cermaq is supportive of further consolidation in farming in selected geographical markets and has already demonstrated its commitment to participate in such transactions. Cermaq has further built global leadership positions both in feed and farming, and now recently in marine ingredients with the announced acquisition of Copeinca. Cermaq agrees that a further restructuring of the aquaculture industry would create value, and would hence generally look constructively on initiatives seeking to deliver these benefits.

The Copeinca transaction

As mentioned above, the launch of Marine Harvests potential offer is conditional upon the Cermaq shareholders deciding not to carry out the Copeinca transaction. Cermaq fundamentally disagrees with Marine Harvest's views as to the merits of this transaction and reiterates that it continues to believe firmly in the strategic rationale for and attractiveness to Cermaq of the Copeinca acquisition. Extensive contact with a number of feed customers and business partners provide additional support to our strategic conclusions. Cermaq is very confident in the deliverability of the announced annual synergies from the transaction which currently are estimated to NOK 250-270 mill. A significant part of the synergies are originating from Cermaq's leading position in feed. Based on its comprehensive experience through decades, Cermaq has a profound knowledge and insight of the challenges related to aspects such as sourcing, formulation, research, substitution, and logistics. Whereas fish meal is more available and to a larger extent can be substituted in fish feed than fish oil, a certain content of marine ingredients, including fish meal, is a prerequisite for high performance fish feed to salmonid species. Even more critical is that Cermaq considers omega-3 from fish oil to represent a real limitation for further growth in the salmon industry. Cermaq will through the acquisition secure more than 50% of its current omega-3 requirements. The Copeinca transaction would thus offer additional benefits to any consolidating transaction in feed and/or farming.

Further, pursuant to the agreements entered into with Copeinca, Cermaq is under an obligation to complete the agreed process for the transaction. This is preventing the company from entering into discussions with Marine Harvest which are based on the presumption that the Copeinca transaction is not completed.

For all of the above reasons, the process to complete the Copeinca transaction will continue as planned.

Considering the situation and Marine Harvests expressed intention of voting against the Copeinca transaction, Cermaq will review all of its options, including alternative financing, to secure completion of the transaction should this be required to protect the interests of all of its shareholders.

The Board's evaluation of the potential conditional offer

As referred to in the Marine Harvest announcement, Marine Harvest has earlier contacted Cermaq with a proposal to solicit a voluntary offer recommended by the Cermaq Board of Directors. For the reasons outlined above, Cermaq was not in a position to engage in discussions of the potential proposal as it was presented by Marine Harvest. While the financial terms of the potential offer were not disclosed at the time, the approach has allowed Cermaq to fully update its view as to the value of the company.

The Cermaq Board of Directors has now reviewed the terms of Marine Harvest's potential conditional offer as set out in the recent public announcement. After careful consideration with the assistance of its advisors, the Board has concluded unanimously that the Marine Harvest potential conditional offer significantly undervalues Cermaq and does not reflect the synergies that Marine Harvest underlines in its press release. In its evaluation, the Board has also taken into account that the consideration is partly in the form of shares in Marine Harvest.

The Board has noted that Marine Harvest sees the announcement of the Copeinca transaction as a reason for the recent relative underperformance of the Cermaq share. Assuming that this is correct, Cermaq excluding Copeinca,which is the entity that Marine Harvest potentially is bidding for, would currently have been trading above the NOK 91 level which is where it was trading at 4 April, the day immediately preceding the announcement of the Copeinca transaction. This would imply a substantial reduction in the true premium paid by Marine Harvest to achieve full control of Cermaq.

The Board also points to the fact that the Cermaq share price traded above NOK 100 as recent as in March 2013.

In view of all of the above, the Cermaq Board strongly urges shareholders to support the completion of the Copeinca transaction as planned. Recognising that this, based on the conditions presented, may prevent the launch by Marine Harvest of its potential offer, the Board and management of Cermaq is fully committed to take such actions as would be required to deliver value to its shareholders which are consistent with the Board's evaluation as set out above.

Comments to certain other elements of the conditional offer

The Cermaq shareholders should carefully review the press release and other relevant materials from Marine Harvest for a full presentation of the conditional offer. Cermaq would, however, like to highlight the following:

The potential offer is subject to a number of conditions, none of which will have been lifted before 21 May 2013, the date for the Cermaq general assembly.
The potential conditional offer has a cap on the number of Marine Harvest shares to be issued as consideration per Cermaq share. Any material share price increase in Marine Harvest before 21 May 2013, the date of the Cermaq general assembly, will not benefit Cermaq shareholders under the offer.
For the avoidance of doubt, the potential conditional offer from Marine Harvest is not an item on the agenda for Cermaq's Annual General Meeting on 21 May 2013. We refer to the notice of the Annual General Meeting distributed on 30 April 2013.

Advisors

ABG Sundal Collier is acting as financial advisor and the law firm Schjoedt is acting as legal counsel to Cermaq.

[Lwymi]

Cermaq hat ein Angebot für Ewos.
"The sale will free up funds to reduce debt and to pay an extraordinary dividend of 4 billion kroner to 5 billion kroner, or 43 kroner to 54 kroner a share, Cermaq said."

www.bloomberg.com/news/2013-06-17/cermaq-receives-1-1-billio…

[Lwymi]

Norway offers to up Cermaq holding in takeover battle:

www.reuters.com/article/2013/06/20/cermaq-government-idUSL5N…

www.4-traders.com/CERMAQ-ASA-1413107/news/Cermaq-ASA-Ministr…

Ein Ausstieg zum bei dieser Auktion ermittelten Preis wäre wohl eine gute Option.

Meinungen dazu?

[Lwymi]

18.07.2013 15:44

Cermaq has today entered into a definitive share purchase agreement with Altor
and Bain Capital regarding the sale of EWOS. The purchaser will be a Norwegian
company established by funds advised by Altor and Bain Capital for this purpose.
The agreed consideration implies an enterprise value of EWOS of NOK 6.5 billion,
and will be payable in cash upon completion. The transaction is expected to
close by the end of October 2013.

Altor and Bain Capital have followed the aquaculture industry for several years,
and see great potential in working with EWOS' management team to further develop
its world leading fish feed business.

The transaction will enable Cermaq to free up significant funds. Such funds will
be used to reduce debt to ensure a continued solid capital structure and
compliance with all financing commitments for the remaining operations, and to
realize an extraordinary dividend to the shareholders. Subject to completion of
the transaction, the company expects an extraordinary distribution to Cermaq's
shareholders of around NOK 4.5 - 5.0 billion, or between NOK 48 and NOK 54 per
share.

The Cermaq board will now continue its efforts to further develop the company's
significant farming activities in Norway, Canada and Chile. Cermaq supports a
further consolidation of the farming industry in selected geographical areas and
will consider various solutions to further develop the company's strong position
and further maximize residual shareholder value.

[ticles]

Hat jemand Informationen, warum es heute früh zu solch einem Einbruch kam?

[ticles]

Hat jemand Informationen, warum es heute früh zu solch einem Einbruch kam???

[DerHolthausener]

Ist noch jemand investiert in dieses Papier?

[DerHolthausener]

Da hat sich der Einstieg im August doch gelohnt.

[R-BgO]

Übernahmeangebot durch Mitsubishi: http://www.cermaq.com/portal/wps/wcm/connect/153856004590449…

[R-BgO]

Antwort auf Beitrag Nr.: 47.871.218 von R-BgO am 25.09.14 10:34:08

scheint durchgegangen zu sein:

Stücke wurden heute für 96 NOK ausgebucht;

over-and-out