Norwegian seafood giant Austevoll Seafood reported a “good result” for 2Q 2013 compared to last year, and earnings figures for the first half of the year appear to be up compared to 1H 2012.
Earnings before interest, taxes, dividends and acquisitions (EBITDA) totaled NOK 547.3 million (USD 89.6 million, EUR 67.1 million) for the quarter, up from the NOK 298.6 million (USD 48.9 million, EUR 36.6 million) reported in the same quarter last year. The company also reported an early consolidated operating profit figure for the quarter of NOK 547 million (USD 89.5 million, EUR 67 million), up from the NOK 299 million (USD 48.9 million, EUR 36.6 million) reported in 2Q 2012. The company also reported an increase in income in 1Q 2013, totaling NOK 3.3 billion (USD 540.1 million, EUR 404.4 million), an increase from the NOK 2.9 billion (USD 474.7 million, EUR 355.4 million) reported in 1Q 2012.
The company said lower production of raw materials was to blame for a drop in operating income in 2Q for fishmeal and fish oil. Numbers fell to NOK 375 million (USD 61.4 million, EUR 46 million), with EBITDA for the sector falling to NOK 68 million (USD 11.1 million, EUR 8.3 million).
Consumer products numbers had similar drops, but the company’s Atlantic salmon and trout divisions were up. The segment reported an operating income of NOK 2.5 billion (USD 409.2 million, EUR 306.4 million) in 2Q 2013, compared to NOK 2.3 billion (USD 376.5 million, EUR 281.9 million) reported in 2012. EBITDA for the segment stood at NOK 538 million (USD 88.1 million, EUR 65.9 million), compared to NOK 210 million (USD 34.4 million, EUR 25.7 million) in 2Q 2012.
EBITDA for the first half the year totaled NOK 1.1 billion (USD 180 million, EUR 134.8 million), compared to the NOK 733.5 million (USD 120.1 million, EUR 89.9 million) reported in the first half of 2012. The company attributed the increase to “significantly higher prices achieved for salmon and trout.”
