Salmon farming centre. (Photo: Austevoll Seafood/FIS)
NORWAY
Friday, August 22, 2014, 00:40 (GMT + 9)
Austevoll Seafood ASA managed to increase its profits due to the growth in sales volume for salmon and trout and also for fishmeal and oil segments in the second quarter of the year when compared with the same quarter in 2013.
The Group reported a revenue totalling NOK 3,571 million (USD 578 million) in the analysed period (NOK 2,749 million [USD 445 million] Q2 2013); an EBITDA amounting to NOK 702 million (USD 113.6 million) (NOK 543 million [USD 87.9 million] Q2 2013); and an EBIT before value adjustment for biomass of NOK 566 million (USD 91.6 million)(NOK 416 million [USD 67.3 million] Q2 2013).
On the other hand, the value adjustment for IFRS biomass was negative at NOK 207 million (USD 33.5 million) during the quarter, compared with the positive IFRS biomass adjustment for the same period in 2013 of NOK 91 million (USD 14.7 million).
Considering the first half of the year, the profit before tax and biomass adjustment is NOK 1,161 million (USD 187.9 million), compared with NOK 697 million (USD 112.8 million) in the same period in 2013.
The Group informed that whereas it was a challenging fishing season in Peru, sardine and anchovy catches in Chile were good during the quarter. Sales of frozen products from both countries in Q2 2014 totalled approx. 6,000 tonnes compared with 3,000 tonnes in the same period last year.
The Atlantic salmon and trout operating segment, which comprises Lerøy Seafood Group ASA, reported operating revenue of NOK 3,176 million (USD 514.2 million) in the second quarter this year (Q2 2013: NOK 2,513 million [USD 406.8 million]). And the pelagic North Atlantic operating segment, which comprises Pelagia AS and its subsidiaries, highlighted an increase in raw material volume attributed to the postponed season for blue whiting and good catches of sand eel in the quarter.
Austevoll points out that the ban on imports of Norwegian fish products, among others, imposed early this month by Russia, one of the most important markets globally for salmon and trout, represents a short-term challenge for the Norwegian seafood industry, and the company is working hard to increase sales to alternative markets.