Strong 4Q for Aker Seafoods


SeafoodSource staff

Published on
February 18, 2010

Aker Seafoods on Thursday reported its fourth-quarter results, including operating revenues of NOK 727 million (USD 121.2 million, EUR 89.8 million), up from NOK 630 million during the same period in 2008.

The Norwegian seafood producer also posted a fourht-quarter EBITDA (earnings before interest, taxes, depreciation and amortization) of NOK 51 million (USD 8.5 million, EUR 6.3 million), up from NOK 23 million during the same period in 2008.

The volume of seafood harvested increased almost 50 percent, and sales grew 59 percent, said Aker. Both haddock and cod fisheries did well in the quarter, and fuel prices were significantly lower last year, which helped boost the company’s results compared to 2008.

“Even though the harvested volume by our own trawlers was good in 2009 and the landings from the coastal fishing fleet were up from the same period in 2008, the result is not satisfactory,” said Liv Monica B. Stubholt, Aker’s acting CEO. “Aker achieved a positive EBITDA of NOK 51 million, which mainly stems from the group’s activities in Denmark and France and the harvesting in Norwegian waters.”

Overall in 2009, Aker recorded sales of NOK 2.69 billion and an EBITA of NOK 192 million (USD 448.6 million, EUR 331.2 million), up 33 percent from 2008.

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