Austevoll closed 2013 with very good results for Q4. (Photo: Austevoll Seafood)

Good fishing season and prices for Austevoll

Austevoll Seafood ASA announced its results showing strong earnings in Q4 2013, with an operating income for the quarter of NOK 3,624 million (USD 598.3 million) compared to NOK 2,732 million (USD 451 million) in Q4 2012.

EBITDA in quarter was increased to NOK 593 million (USD 97.9 million) vs. NOK 204 million (USD 33.7 million) in the last months of 2012 due to good prices for Atlantic salmon and trout.

The company has had a good fishing season of Pacific anchovy in Peru as well.

Profit before tax and biomass adjustment for Q4 came to NOK 467 million (USD 77.1 million), compared with NOK 59 million (USD 9.7 million) in the same period in 2012.

In 2013, Austevoll achieved a profit growth of NOK 1,095 million (USD 180.7 million), compared with the previous year.

The transaction between Austevoll Seafood ASA and Kvefi AS concerning the merger of the companies’ operations in Europe within pelagic production for human consumption, fishmeal and fish oil was completed in January 2014, and Pelagia AS has been established.

In the segment of fishmeal and fish oil, the operating profit of the company in Q4 2013 was NOK 339 million (USD 56 million), against NOK 228 million (USD 37.6 million) in Q4 2012, and EBITDA amounted to NOK 109 million (USD 18 million), compared to NOK 3 million (USD 495.260) in the same period last year.

Approximately 31,500 tonnes of fishmeal and fish oil were sold in Q4, compared with approximately 19,000 tonnes in the same quarter of 2012. This increase was partially offset by lower prices for fishmeal, which fell 20 per cent yoy. However, fish oil prices rose about 17 per cent.

The company decided to concentrate the production in Peru for human consumption at the plants in Coishco and Pisco, writing down the plant in Paita due to its scarce supply of raw materials.

Regarding the production, sale and distribution segment of salmon and trout, comprising the company Lerøy Seafood Group ASA (LSG), Austevoll reported its highest-ever quarterly turnover in Q4 2013. Its operating profit was due to the higher prices the company achieved for its main product Atlantic salmon and trout.

Operating revenues totalled NOK 3,230 million (USD 533.2 million) against NOK 2,411 million (USD 398 million) in Q4 2012, and EBITDA before fair value adjustment of the biomass was NOK 506 million (USD 83.5 million), compared to NOK 210 million (USD 34.7 million) in the same quarter last year.

The Board of Directors proposed a dividend of NOK 1.60 (USD 0.264) per share for 2013.

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Address:	Alfabygget
City:	Storebo
State/ZIP:	(N-5392)
Country:	Norway
Phone:	+47 56 18 10 00
Fax:	+47 56 18 10 03
E-Mail:	[email protected]
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