Austevoll 2Q buoyed by salmon, trout sales

Austevoll Seafood saw a strong quarter for Atlantic salmon and trout, as well as good catches of sardine and anchovy catches in Chile..However, the Norwegian company said the fishing season in Peru was challenging, where about 66 percent of the total national quota was caught by the end of the season on 10 August. Austral Group caught 78 percent of its quota during the season.

Revenue in the second quarter of 2014 totaled NOK 3.75 billion (USD 610 million, EUR 459 million), up from NOK 2.75 billion (USD 447 million, EUR 337 million) in the same quarter in 2013.

All segments reported an increase in turnover, with the highest increased achieved by Atlantic salmon and trout.

EBITDA for the quarter was NOK 702 million (USD 114 million, EUR 86 million), up from NOK 543 million (USD 88.3 million, EUR 66.5 million) in 2013. The increase is attributed to an increase in sales volume for both the salmon and trout segment and fishmeal and fish oil. About 27,8000 metric tons (MT) of fishmeal and fish oil were sold in the quarter, compared to about 12,000 MT in 2013.

For the salmon and trout operating segment, Leroy Seafood Group, operating revenue reached NOK 3.18 billion (USD 517 million, EUR 389 million) and EBITDA was NOK 590 million (USD 95.9 million, EUR 72 million). The company said the increases are due to the higher slaughter volume in the second quarter when compared to the same period in 2013. Leroy reported harvests of 40,944 metric tons (MT) gutted weight of salmon and trout in the quarter, up 21 percent from the same quarter last year.

For the fishmeal and fish oil segment, operating revenue for the quarter was NOK 319 million (USD 51.9 million, EUR 39 million) and EBITDA amounted to NOK 127 million (USD 21 million, EUR 16 million), both up from the same quarter in 2013. The increase is attributed to a combination of higher production volume of raw materials and higher sales volumes.

The company also addressed the affect Russia’s recent ban on seafood imports will have.

“The ban represents a short-term challenge for the Norwegian seafood industry, as it does for the industry in Russia,” Austevoll said. “The company is working hard to increase sales to alternative markets. Despite this, the new situation in Russia will undoubtedly have an impact on the segment’s earnings when compared with earnings before the ban was introduced. At this time, it remains difficult to precisely predict the consequences of the ban.”


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