Austevoll Seafood ASA

Earnings Release • Feb 26, 2019

Financial report Q4 2018 and preliminary figures for 2018

Financial report Q4 2018 and preliminary figures for 2018

Group operating revenue in Q4 2018 totalled NOK 5,765 million, compared with NOK 4,802 million in Q4 2017. The increase in revenue was mainly generated by an increase in sales volume for Atlantic salmon and pelagic products compared with the same quarter in 2017.

EBITDA for the Group in Q4 2018 was NOK 1,216 million, up from Q4 2017 (NOK 819 million).

EBIT before fair value adjustment related to biological assets in Q4 2018 was NOK 955 million (Q4 2017: NOK 584 million). EBIT after fair value adjustment related to biological assets in Q4 2018 was NOK 214 million (Q4 2017: NOK -418 million). Fair value adjustment related to biological assets amounted to NOK -741 million in Q4 2018 compared with NOK -1,002 million in Q4 2017.

Income from associates in Q4 2018 totalled NOK 151 million (Q4 2017: NOK 143 million). The largest associates are Norskott Havbruk AS and Pelagia AS. The Group’s associates generate good results, are significant enterprises in their segments and represent substantial values for Austevoll Seafood ASA.

The Group’s net interest expense in Q4 2018 totalled NOK 56 million (Q4 2017: NOK 67 million).

Profit before tax and fair value adjustment related to biological assets for Q4 2018 amounted to NOK 968 million, compared with NOK 651 million in Q4 2017.

Profit before tax for the quarter totalled NOK 247 million (Q4 2017: loss of NOK 361 million). Profit after tax was NOK 356 million (Q4 2017: loss of NOK 181 million).

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).