Though salmon represents only a portion of its business, Austevoll Seafood ASA’s fourth-quarter results certainly weren’t immune to a “difficult” salmon market.
On Thursday, the Oslo-listed company reported its fourth-quarter results, including an operating income of NOK 2.61 billion, down from NOK 3.5 billion in the corresponding quarter of 2010.
The company attributed the decline mainly to a change in group structure resulting from the sale of Epax and the Austevoll Fisk Group, which is now part of Norway Pelagic ASA, as well as a “substantial” fall in salmon prices.
However, the company received a lift from prices for fish oil and frozen finfish products, which were were higher in the fourth quarter of 2011 than in the same quarter in 2010.
For all of 2011, Austevoll reported an operating income of NOK 12.16 billion, compared to NOK 12.75 billion in 2010.
