Austevoll Seafood ASA

Earnings Release • Aug 13, 2015

INTERIM REPORT Q2 AND FIRST HALF 2015

INTERIM REPORT Q2 AND FIRST HALF 2015

Group operating revenue in Q2 2015 totalled NOK

4,108 million, compared with NOK 3,606 million in Q2

The Group's operating profit before depreciation and

value adjustment for biomass (EBITDA) for Q2 2015

was NOK 778 million, up from NOK 729 million in Q2

The Group reported an increase in revenue from the

salmon and trout segment but a lower EBITDA, mainly

caused by higher release from stock costs in the

quarter compared with Q2 2014. The fishing season

for anchoveta in Central/North Peru started on 1

April. The quota for the season was set at 2,580,000

tonnes. The earlier start to the season and better

fishing conditions meant that almost the full quota

had been caught by the end of the second quarter. In

addition, significant volumes of fishmeal from the

season's production were realised in the second

quarter, leading to an increase in revenue and

EBITDA compared with Q2 2014.

EBIT before value adjustment for biomass in Q2 2015

was NOK 605 million (Q2 2014: NOK 580 million). EBIT

after value adjustment for biomass in Q2 2015 was

NOK 380 million (Q2 2014: NOK 357 million). The IFRS

biomass adjustment for the quarter was negative at

NOK 225 million (Q2 2014: negative at NOK 224

million).

Income from associates in Q2 2015 totalled NOK 46

million (Q2 2014: NOK 5 million).

The largest associates are Norskott Havbruk AS

(owner of the Scottish fish-farming company Scottish

Sea Farms Ltd.) and Pelagia AS.

The Group's net interest expense in Q2 2015 totalled

NOK 60 million (Q2 2014: NOK 46 million).

Profit before tax and IFRS biomass adjustment for Q2

2015 amounted to NOK 586 million, compared with NOK

571 million in Q2 2014.

Profit before tax for the quarter totalled NOK 353

million (Q2 2014: NOK 320 million). Profit after tax

was NOK 231 million (Q2 2014: NOK 233 million).

The Group is financially sound with an equity ratio

of 52%. The Group had net interest-bearing debt

totalling NOK 4,560 million at 30 June 2015,

compared with NOK 3,869 million at 30 June 2014. The

Group paid dividends of NOK 684 million in Q2 2015,

compared with NOK 564 million in Q2 2014.

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).