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Austevoll Financial report Q4 2019 and preliminary figures for 2019

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Wednesday, February 26, 2020, 00:00 (GMT + 9)

  • Lower harvest volume for Atlantic salmon and trout when compared with Q4 2018

» Spot price for salmon saw significant improvement in last part of the quarter

  • Good activity for pelagic and whitefish in the North Atlantic
  • Disappointing second season in Peru. Fishing stopped on 15 January 2020

» 36% of the total quota for the season caught before season stopped (2018 II: 98%)

  • In line with the company's dividend policy, the Board of Directors will propose a dividend payment of NOK 4.50 per share for 2019 compared with NOK 3.50 per share for 2018

Austevoll Group operating revenue in Q4 2019 totalled NOK 5,931 million, compared with NOK 5,765 million in Q4 2018.

Group EBIDTA in Q4 2019 totalled NOK 997 million compared with NOK 1,216 million in Q4 2018. Lower harvest volumes for Atlantic salmon and trout, and substantially lower catch volumes in Peru, are the most significant reasons behind the lower earnings when compared with the same period last year.

EBIT before fair value adjustment related to biological assets in Q4 2019 was NOK 652 million (Q4 2018: NOK 955 million).

Value adjustment related to biological assets was positive in Q4 2019, amounting to NOK 246 million. Value adjustment for the corresponding quarter in 2018 was negative at NOK 741 million. EBIT after fair value adjustment related to biological assets in Q4 2019 was NOK 898 million (Q4 2018: NOK 214 million).

Income from associates totalled NOK 173 million in the quarter (Q4 2018: NOK 151 million). Value adjustment related to biological assets was positive and amounted to NOK 43 million in the quarter. The corresponding value adjustment for Q4 2018 was NOK 20 million. The largest associates are Norskott Havbruk AS and Pelagia Holding AS (Pelagia). The Group’s associates have generated good results over time, are significant enterprises in their segments and represent substantial values for Austevoll Seafood ASA.

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The Group’s net interest expense in Q4 2019 totalled NOK 102 million (Q4 2018: NOK 56 million). 

Profit before tax and fair value adjustment related to biological assets for Q4 2019 amounted to NOK 715 million, compared with NOK 968 million in Q4 2018.

The Group reported a profit before tax in the quarter of NOK 1,003 million (Q4 2018: NOK 247 million). The profit figure after tax was NOK 802 million (Q4 2018: NOK 356 million). 

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