Austevoll Seafood : Financial report Q4 2019 and preliminary figures for 2019
February 25, 2020 at 01:04 am EST
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Financial report Q4 2019 and preliminary figures for 2019
Group operating revenue in Q4 2019 totalled NOK 5,931 million, compared with NOK 5,765 million in Q4 2018. Group EBIDTA in Q4 2019 totalled NOK 997 million compared with NOK 1,216 million in Q4 2018. Lower harvest volumes for Atlantic salmon and trout, and substantially lower catch volumes in Peru, are the most significant reasons behind the lower earnings when compared with the same period last year. EBIT before fair value adjustment related to biological assets in Q4 2019 was NOK 652 million (Q4 2018: NOK 955 million). Value adjustment related to biological assets was positive in Q4 2019, amounting to NOK 246 million. Value adjustment for the corresponding quarter in 2018 was negative at NOK 741 million. EBIT after fair value adjustment related to biological assets in Q4 2019 was NOK 898 million (Q4 2018: NOK 214 million). Income from associates totalled NOK 173 million in the quarter (Q4 2018: NOK 151 million). Value adjustment related to biological assets was positive and amounted to NOK 43 million in the quarter. The corresponding value adjustment for Q4 2018 was NOK 20 million. The largest associates are Norskott Havbruk AS and Pelagia Holding AS (Pelagia). The Group's associates have generated good results over time, are significant enterprises in their segments and represent substantial values for Austevoll Seafood ASA. The Group's net interest expense in Q4 2019 totalled NOK 102 million (Q4 2018: NOK 56 million). Profit before tax and fair value adjustment related to biological assets for Q4 2019 amounted to NOK 715 million, compared with NOK 968 million in Q4 2018. The Group reported a profit before tax in the quarter of NOK 1,003 million (Q4 2018: NOK 247 million). The profit figure after tax was NOK 802 million (Q4 2018: NOK 356 million). The Group implemented accounting standard IFRS 16 regarding leases with effect from 1 January 2019. The profit/loss figures are therefore not directly comparable to the corresponding figures from previous periods. See note 1 for a more detailed description of the accounting impact of implementation of IFRS 16 in 2019. For further information please see attached report and presentation. Questions and comments may be addressed to the company's CEO, Arne Møgster, or to the CFO, Britt Kathrine Drivenes. This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).
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Austevoll Seafood ASA published this content on 25 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2020 06:03:11 UTC
Austevoll Seafood ASA (AUSS) is a Norway-based holding company. The Company is involved in pelagic operations within fisheries, production of fishmeal and fish oil, and frozen pelagic consumer products. The Company has sales operations in Norway, Europe, Asia, the USA and South America. Its activities are divided into operating segments and reflect its portfolio companies: Leroey Seafood Group ASA, which is involved in fish farming; Austral Group S.A.A., that is engaged in the production of fishmeal, fish oil, canned fish and frozen fish; Foodcorp Chile S.A., that is engaged in production of frozen fish, canned fish, fishmeal and fish oil.; Br. Birkeland AS, that holds pelagic fishing licences utilised by two purse-seiner fishing vessels; Br. Birkeland Farming AS, that holds seven salmon farming licences in the Western Region of Norway and the joint venture Pelagia Holding AS, that is engaged in production of fishmeal, fish oil, Omega-3 oil and frozen fish for direct human consumption.
AUSTEVOLL SEAFOOD ASA 
