Austevoll Seafood ASA

Earnings Release • Nov 8, 2018

Financial report Q3 2018

Financial report Q3 2018

The Group reported operating revenue of NOK 5,317 million in the quarter, compared with NOK 4,903 million in Q3 2017. The increase in revenue was mainly generated by an increase in sales volume for fishmeal and oil compared with the same quarter in 2017.

EBITDA for the Group in Q3 2018 was NOK 1,008 million, on a par with Q3 2017 (NOK 1,051 million).

EBIT before fair value adjustment related to biological assets in Q3 2018 was NOK 771 million (Q3 2017: NOK 822 million). EBIT after fair value adjustment related to biological assets in Q3 2018 was NOK 843 million (Q3 2017: NOK 310 million). Fair value adjustment related to biological assets was NOK 72 million in Q3 2018 against NOK -512 million in Q3 2017.

Income from associates in Q3 2018 totalled NOK 42 million (Q3 2017: NOK 89 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 Q3 2018 totalled NOK -76 million (Q3 2017: NOK -73 million).

Profit before tax and fair value adjustment related to biological assets for Q3 2018 amounted to NOK 758 million, compared with NOK 873 million in Q3 2017.

Profit before tax for the quarter totalled NOK 798 million (Q3 2017: NOK 329 million). Profit after tax was NOK 608 million (Q3 2017: NOK 270 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).