Austevoll’s first-quarter income totaled NOK 2.98 million, up just slightly from NOK 2.95 million last year, the Norwegian company reported on Tuesday.
However, Austevoll’s EBITDA in the first quarter of 2012 came to NOK 435 million, down from NOK 612 million in 2011. The company attributed the decline to lower prices of Atlantic salmon and trout in the second half of 2011. Meanwhile, the company’s profit (before tax and biomass adjustment) in the first quarter also fell to NOK 227 million in 2012 from NOK 472 million in 2011.
The company’s fishmeal and fish oil division reported an operating income of NOK 594 million in the first quarter of 2012, up from NOK 318 million in 2011, and an EBITDA of NOK 174 million in 2011, up from NOK 65 million in 2012. The increase is attributed to higher sales volumes, which are due to higher inventory for the company’s Peru operations. A total of 76,000 metric tons of fishmeal and oil were sold in the first quarter, compared to about 35,000 metric tons in 2011.
