Austevoll Seafood ASA

Earnings Release • Feb 17, 2015

CHANGE IN SEGMENT REPORTING STRUCTURE

From and including fourth quarter 2014, the consolidated financial statement of Austevoll Seafood ASA (AUSS) will include 100% of Br. Birkeland AS (BRBI). Comparison figures have been amended accordingly in conformity with IAS 8, and the transitional rule in appendix C are amended to comply with IFRS 10. This decision has been taken following the Company`s dialogue with the Financial Supervisory Authority of Norway (FSON), and based on FSON's interpretation of IFRS 10, with cross-references to IFRS 10.8, IFRS 10.B42, IFRS 10.B45 and IFRS 10.B18. Previously, and in accordance with IAS 27, "Consolidated Accounts and separate Finance Accounts", BRBI has been treated in the consolidated figures in accordance with the equity method.

				Reported November 12th,
Key figures	Restated (unaudited)		2014 (unaudited)
All figures in NOK 1,000	YTD Q3 2014	2013	YTD Q3 2014	2013
Operating revenue	10 639 488	12 657 884	10 537 683	12 409 756
Operating profit before depreciation (EBITDA)	1 938 174	2 380 092	1 868 565	2 226 108
EBIT before fair value biomass adjustment	1 482 204	1 711 395	1 450 932	1 607 093
Operating profit	485 341	2 540 229	544 706	2 371 322
Profit before tax	461 450	2 464 437	511 266	2 380 223
Net profit	384 210	1 603 068	416 645	1 560 756
Profit to minority interest	107 209	904 277	134 727	855 411
Profit to equity holder of parent company	277 001	698 791	281 918	705 345
Earnings per share to equity holder of parent company	1,38	3,48	1,39	3,48
Total assets	21 461 308	22 684 356	20 082 577	21 224 259
Equity	11 305 484	11 464 191	10 597 344	10 699 318
Equity ratio	53 %	51 %	53 %	50 %
Net interest bearing debt	3 969 855	5 103 197	3 641 456	4 767 714

As a consequence of the changes in the group structure over the latest years, AUSS has made a revised assessment of its segment reporting, and has decided to change the current segment reporting. The future segment structure will be as follows; Lerøy Seafood Group (Europe), Foodcorp (Chile), Austral Group (Peru), Br. Birkeland (Norway) and the associated company Pelagia AS (Europe). The structure change will be reported in the financial report of AUSS as from fourth quarter 2014, and comparison figures have been amended accordingly.

AUSS welcomes all to a presentation of its 2014 fourth quarter results, Tuesday 24 February at 0900 hrs. at Hotel Continental in Oslo.

This release is published in accordance with the Norwegian Securities Trading Act section 5-2.

Contactperson:

CFO Britt Kathrine Drivenes tel.: +47 91 66 10 37