Austevoll Seafood ASA Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2018; Reports Volume Sales for the First Quarter Ended March 31, 2018
May 08, 2018 at 01:00 am EDT
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Austevoll Seafood ASA reported unaudited earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported Operating revenue was NOK 5,753,149,000 against NOK 6,074,954,000 a year ago. EBITDA before fair value adjustments of NOK 1,445,293,000 against NOK 1,555,345,000 a year ago. EBIT was NOK 1,217,233,000 against NOK 1,330,883,000 a year ago. Operating profit was NOK 2,203,798,000 against NOK 309,657,000 a year ago. Profit before tax and fair value adjustments was NOK 1,327,121,000 against NOK 1,401,017,000 a year ago. Profit before tax was NOK 2,316,390,000 against NOK 415,660,000 a year ago. Net profit was NOK 1,871,794,000 against NOK 343,370,000 a year ago. Earnings per diluted share were NOK 4.57 against NOK 1.03 a year ago. Net cash flow from operating activities was NOK 1,026,187,000 against NOK 1,731,369,000 a year ago. Purchase of intangible and fixed assets was NOK 863,522,000 against NOK 264,390,000 a year ago. The fall in revenue was due to a combination of lower sales volume for Atlantic salmon/trout and lower prices realised when compared with first quarter of 2017.
For the quarter, the company reported Salmon sales of 40,384,000 GWT tones against 44,424,000 GWT tones a year ago. Fishmeal/oil/FPC sales were 21,127,000 tones against 35,871,000 tones. Frozen fish sales were 16,091,000 tones against 7,437,000 tones a year ago.
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 Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2018; Reports Volume Sales for the First Quarter Ended March 31, 2018
AUSTEVOLL SEAFOOD ASA 
